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Binance Makes Key Announcement on Toncoin Amid Telegram Saga

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Crypto exchange pioneer Binance on Tuesday issued a vital announcement on Toncoin (TON). The exchange revealed that it is adding TON on simple earn-locked products. This announcement, while Telegram faces legal scrutiny across the globe, has gained significant traction across the crypto industry.

Binance Adds TON On Simple Earn Locked Products

According to an official announcement dated September 3, Binance Simple Earn is adding Toncoin on locked products. Further, the CEX added that “Complete subscriptions to TON on Simple Earn Locked Products during the Promotion Period to get up to 5.9%* in APR rewards,” solidifying user appeal.

For guaranteed eligibility, subscriptions must take place between September 3, 10 UTC and September 23, 09:59 UTC, the CEX added. Further, the subscription format set by the crypto exchange is on a first-come, first-served basis. Also, the minimum subscription amount, maximum subscription limits, and duration requirements will influence the APR a user receives. The reward distribution will be held on a daily basis.

Subsequently, Binance rolled out a list of offered products as a part of the abovementioned announcement. Locking TON for a duration of 30 days offers standard APR of 1.20%, while 2.59% during the promotion period. The minimum subscription limit set by the exchange us 0.1 TON, while maximum is set at 50,000 tokens.

Simultaneously, locking for a duration of 60 days offers users standard APR of 1.90%, whereas 3.9% during the promotion period. The minimum subscription for this aspect is 0.1 token, whereas the maximum is 20,000 tokens. Lastly, locking for 90 days will offer 3.90% standard APR to users, whilst 5.9% during the promotion period. The minimum subscription limit is 0.1 token, while maximum is 200 tokens.

Overall, this announcement by Binance has garnered significant attention to the native crypto of The Open Network blockchain, previously known as Telegram Open Network. Also, it’s worth noting that the token currently faces turbulence as market sentiments brimming with uncertainty over Telegram and its CEO’s legal scrabble.

Notably, following legal scrutiny in France, Durov’s messaging app continues to tackle legal eagles globally. CoinGape Media recently reported that S. Korea probed into Telegram, investigating whether it aided in spreading sexually explicit deepfake content.

Toncoin Price Today

Intriguingly, the broader crypto prices today illustrated a rebound action after waning recently. Riding along the wave, even TON price soared 1% to trade at $5.24. However, with the recent saga around Pave Durov weighing in, investor concerns persist.

Toncoin’s weekly chart illustrated a nearly 2% dip in value, while the monthly chart illustrated a 14% crash. Its intraday lows and highs were recorded as $5.10 and $5.27, respectively.

Meanwhile, Coinglass data revealed a 1.83% jump in the coin’s futures OI to $285 million. This was further accompanied by a 4.62% increase in the derivatives volume to $307.87 million. Nevertheless, despite market stats being optimistic, the coin rides waves of undertanity amid Telegram’s legal chronicle. Crypto market participants continue monitor the crypto for further price action shifts as Binance’s announcement brings enhanced user offerings and appeal to the token.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Gary Gensler To Step Down As US SEC Chair In January

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In a recent development, the US Securities and Exchange Commission (SEC) announced that Gary Gensler will step down from his position next year. This follows calls for Gensler to resign since Donald Trump won the US presidential elections.

Gary Gensler To Step Down As US SEC Chair

The US SEC announced in a press release that Gary Gensler will depart the Agency on January 20, 2025. The US SEC Chair also confirmed this development in an X post. Interestingly, this comes on the same day that Donald Trump will be inaugurated as the 47th president of the United States.

Following the announcement, Gensler also used the opportunity to reflect on his time at the Commission. He remarked that it has been an “honor of a lifetime” to serve alongside those at the SEC. He also thanked President Biden for the opportunity to serve in the position. Gensler has been the US SEC Chair since April 2021. During his time, he has spearheaded several litigations against the crypto industry.

This includes the long-running legal battle with Ripple, which Gensler took over from his predecessor Jay Clayton, which bordered on whether XRP was a security. Up till now, the Agency continues to reiterate this ‘digital asset securities’ claim.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin Miner MARA Holdings Raises $1B To Buy More Bitcoin

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Bitcoin Miner MARA Holdings has raised approximately $1 billion through the sale of its convertible notes. The Bitcoin miner revealed that some of the proceeds from this sale would be used to buy more BTC, although they didn’t mention the exact amount.

Marathon Digital Raises $1B To Buy More Bitcoin

In a press release, the Bitcoin miner revealed that it had raised net proceeds of $980 million from its convertible notes sale after deducting the initial purchaser’s discounts and commissions but before the estimated offering expenses payable by the company.

This development is significant as MARA Holdings revealed that it will use some of the net proceeds to acquire additional BTC. It is worth mentioning that the Bitcoin miner already holds around 27,000 BTC and is the public company with the second-largest Bitcoin holdings.

This development comes as MARA also recently unveiled plans to raise $700m through convertible notes, which will mature in 2030. Meanwhile, the Bitcoin miner looks to be going head-to-head with MicroStrategy, which also recently upsized its private offering to $2.6 billion. The software company will use some of the proceeds to buy more BTC.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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How Will BTC React to $3B Buying Spree?

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Bitcoin (BTC) price today trades at $97,606.0 as of 10 AM. BTC price hit a daily high of $97,837.0 today after rallying 4.41% on November 21.

Why Is Bitcoin Price Up Today?

Bitcoin price today is up 4.41% today and currently auctions around $97,606.0. Since the breakout from the seven-month consolidation and the $75k hurdle, the crypto market outlook has turned bullish. While a few altcoins shoot higher, the alt season is yet to begin.

*bitcoin price updated as of 10 AM.

Price of BTC trades at $97,606.0, bringing the year-to-date gain from 56% on October 20 to 108% as of November 18. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands at 39%, and is well below BTC.

Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.

Bitcoin Price Eyes Bullish End to 2024

Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter.

Historical Bitcoin Price PerformanceHistorical Bitcoin Price Performance
Historical Bitcoin Price Performance

With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,931.5 billion could push toward the $2 trillion mark.

Bitcoin: The Largest Cryptocurrency

 

While Bitcoin’s market cap hovers around $1,931.5 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization, which is $2.40 trillion. Despite the seven-month consolidation, Bitcoin’s $1.3 trillion market cap remains strong, anticipating it reaching $2 trillion in 2025.

BTC’s 24-hour Trading Volume

Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $99.0 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.

Bitcoin Blockchain Upgrades

With a market cap of $1.3 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.

Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.

Bitcoin Network Upgrades Since 2009

Here are some key milestone upgrades to the Bitcoin network over the past decade.

2017-2019

2015-2016

2013-2014

2010-2012

2009-2010

Bitcoin Price Forecast For Next Month

DatePriceChange
November 21, 2024$94,6790.29%
November 22, 2024$99,3645.25%
November 23, 2024$100,9356.91%
November 24, 2024$101,7447.77%
November 25, 2024$102,6398.72%

Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $104,725 as of November 26, leading to a correction. In a month from now, the largest crypto by market cap could be exchanging hands at around $100k.

Bitcoin Price Forecast Between 2025 and 2029

January$100,873.53$99,727.36$100,300.45

61.3%

February$100,812.06$99,696.19$100,254.13

61.3%

March$100,750.58$99,665.02$100,207.81

61.2%

April$100,689.11$99,633.85$100,161.49

61.1%

May$100,627.64$99,602.68$100,115.17

61%

June$100,566.17$99,571.52$100,068.85

61%

July$100,504.69$99,540.35$100,022.52

60.9%

August$100,443.22$99,509.18$99,976.20

60.8%

September$100,381.75$99,478.01$99,929.88

60.7%

October$100,320.28$99,446.84$99,883.56

60.7%

November$100,258.80$99,415.67$99,837.24

60.6%

December$100,197.33$99,384.50$99,790.92

60.5%

All Time$100,535.43$99,555.93$100,045.68

60.9%

January$103,010.64$102,667.46$105,097.01

69%

February$105,823.94$105,950.42$110,403.10

77.6%

March$108,637.25$109,233.38$115,709.19

86.1%

April$111,450.55$112,516.33$121,015.28

94.6%

May$114,263.86$115,799.29$126,321.37

103.2%

June$117,077.17$119,082.25$131,627.46

111.7%

July$119,890.47$122,365.21$136,933.55

120.2%

August$122,703.78$125,648.17$142,239.64

128.8%

September$125,517.08$128,931.13$147,545.73

137.3%

October$128,330.39$132,214.08$152,851.82

145.9%

November$131,143.69$135,497.04$158,157.91

154.4%

December$133,957$138,780$163,464

162.9%

All Time$118,483.82$120,723.73$134,280.51

116%

January$139,801.17$144,684.75$169,276.92

172.3%

February$145,645.33$150,589.50$175,089.83

181.6%

March$151,489.50$156,494.25$180,902.75

191%

April$157,333.67$162,399$186,715.67

200.3%

May$163,177.83$168,303.75$192,528.58

209.7%

June$169,022$174,208.50$198,341.50

219%

July$174,866.17$180,113.25$204,154.42

228.4%

August$180,710.33$186,018$209,967.33

237.7%

September$186,554.50$191,922.75$215,780.25

247.1%

October$192,398.67$197,827.50$221,593.17

256.4%

November$198,242.83$203,732.25$227,406.08

265.8%

December$204,087$209,637$233,219

275.1%

All Time$171,944.08$177,160.88$201,247.96

223.7%

January$212,511.67$218,298$243,655

291.9%

February$220,936.33$226,959$254,091

308.7%

March$229,361$235,620$264,527

325.5%

April$237,785.67$244,281$274,963

342.3%

May$246,210.33$252,942$285,399

359%

June$254,635$261,603$295,835

375.8%

July$263,059.67$270,264$306,271

392.6%

August$271,484.33$278,925$316,707

409.4%

September$279,909$287,586$327,143

426.2%

October$288,333.67$296,247$337,579

443%

November$296,758.33$304,908$348,015

459.8%

December$305,183$313,569$358,451

476.5%

All Time$258,847.33$265,933.50$301,053

384.2%

January$317,150.58$326,144.33$372,391.92

499%

February$329,118.17$338,719.67$386,332.83

521.4%

March$341,085.75$351,295$400,273.75

543.8%

April$353,053.33$363,870.33$414,214.67

566.2%

May$365,020.92$376,445.67$428,155.58

588.7%

June$376,988.50$389,021$442,096.50

611.1%

July$388,956.08$401,596.33$456,037.42

633.5%

August$400,923.67$414,171.67$469,978.33

655.9%

September$412,891.25$426,747$483,919.25

678.4%

October$424,858.83$439,322.33$497,860.17

700.8%

November$436,826.42$451,897.67$511,801.08

723.2%

December$448,794$464,473$525,742

745.6%

All Time$382,972.29$395,308.67$449,066.96

622.3%

By 2025, Bitcoin price could hit the six-digit territory, and expect a massive bull run to kickstart in the years leading up to 2029. Coingape’s Bitcoin price prediction notes that BTC could trade between $82,213.41 and $660,471.83 by 2029.

Bitcoin Price Outlook between 2030 and 2050

2030

2031

2032

2033

2040

2050

January$465,154.42$481,462.17$546,469.67

779%

February$481,514.83$498,451.33$567,197.33

812.3%

March$497,875.25$515,440.50$587,925

845.6%

April$514,235.67$532,429.67$608,652.67

879%

May$530,596.08$549,418.83$629,380.33

912.3%

June$546,956.50$566,408$650,108

945.7%

July$563,316.92$583,397.17$670,835.67

979%

August$579,677.33$600,386.33$691,563.33

1012.3%

September$596,037.75$617,375.50$712,291

1045.7%

October$612,398.17$634,364.67$733,018.67

1079%

November$628,758.58$651,353.83$753,746.33

1112.4%

December$645,119$668,343$774,474

1145.7%

All Time$555,136.71$574,902.58$660,471.83

962.3%

January$667,167.08$691,240.58$802,526.58

1190.8%

February$689,215.17$714,138.17$830,579.17

1235.9%

March$711,263.25$737,035.75$858,631.75

1281.1%

April$733,311.33$759,933.33$886,684.33

1326.2%

May$755,359.42$782,830.92$914,736.92

1371.3%

June$777,407.50$805,728.50$942,789.50

1416.4%

July$799,455.58$828,626.08$970,842.08

1461.5%

August$821,503.67$851,523.67$998,894.67

1506.7%

September$843,551.75$874,421.25$1,026,947.25

1551.8%

October$865,599.83$897,318.83$1,054,999.83

1596.9%

November$887,647.92$920,216.42$1,083,052.42

1642%

December$909,696$943,114$1,111,105

1687.1%

All Time$788,431.54$817,177.29$956,815.79

1439%

January$946,061.92$979,838.83$1,150,786.08

1751%

February$982,427.83$1,016,563.67$1,190,467.17

1814.8%

March$1,018,793.75$1,053,288.50$1,230,148.25

1878.6%

April$1,055,159.67$1,090,013.33$1,269,829.33

1942.4%

May$1,091,525.58$1,126,738.17$1,309,510.42

2006.3%

June$1,127,891.50$1,163,463$1,349,191.50

2070.1%

July$1,164,257.42$1,200,187.83$1,388,872.58

2133.9%

August$1,200,623.33$1,236,912.67$1,428,553.67

2197.7%

September$1,236,989.25$1,273,637.50$1,468,234.75

2261.6%

October$1,273,355.17$1,310,362.33$1,507,915.83

2325.4%

November$1,309,721.08$1,347,087.17$1,547,596.92

2389.2%

December$1,346,087$1,383,812$1,587,278

2453%

All Time$1,146,074.46$1,181,825.42$1,369,032.04

2102%

January$1,387,378.67$1,426,572.58$1,647,465.92

2549.9%

February$1,428,670.33$1,469,333.17$1,707,653.83

2646.7%

March$1,469,962$1,512,093.75$1,767,841.75

2743.5%

April$1,511,253.67$1,554,854.33$1,828,029.67

2840.3%

May$1,552,545.33$1,597,614.92$1,888,217.58

2937.1%

June$1,593,837$1,640,375.50$1,948,405.50

3033.9%

July$1,635,128.67$1,683,136.08$2,008,593.42

3130.7%

August$1,676,420.33$1,725,896.67$2,068,781.33

3227.5%

September$1,717,712$1,768,657.25$2,128,969.25

3324.3%

October$1,759,003.67$1,811,417.83$2,189,157.17

3421.1%

November$1,800,295.33$1,854,178.42$2,249,345.08

3517.9%

December$1,841,587$1,896,939$2,309,533

3614.7%

All Time$1,614,482.83$1,661,755.79$1,978,499.46

3082.3%

January$1,912,592.58$1,975,978.17$2,362,093.25

3699.3%

February$1,983,598.17$2,055,017.33$2,414,653.50

3783.8%

March$2,054,603.75$2,134,056.50$2,467,213.75

3868.4%

April$2,125,609.33$2,213,095.67$2,519,774

3952.9%

May$2,196,614.92$2,292,134.83$2,572,334.25

4037.4%

June$2,267,620.50$2,371,174$2,624,894.50

4122%

July$2,338,626.08$2,450,213.17$2,677,454.75

4206.5%

August$2,409,631.67$2,529,252.33$2,730,015

4291.1%

September$2,480,637.25$2,608,291.50$2,782,575.25

4375.6%

October$2,551,642.83$2,687,330.67$2,835,135.50

4460.1%

November$2,622,648.42$2,766,369.83$2,887,695.75

4544.7%

December$2,693,654$2,845,409$2,940,256

4629.2%

All Time$2,303,123.29$2,410,693.58$2,651,174.63

4164.3%

January$2,753,723.75$2,916,544.25$3,019,295.17

4756.4%

February$2,813,793.50$2,987,679.50$3,098,334.33

4883.5%

March$2,873,863.25$3,058,814.75$3,177,373.50

5010.6%

April$2,933,933$3,129,950$3,256,412.67

5137.7%

May$2,994,002.75$3,201,085.25$3,335,451.83

5264.9%

June$3,054,072.50$3,272,220.50$3,414,491

5392%

July$3,114,142.25$3,343,355.75$3,493,530.17

5519.1%

August$3,174,212$3,414,491$3,572,569.33

5646.3%

September$3,234,281.75$3,485,626.25$3,651,608.50

5773.4%

October$3,294,351.50$3,556,761.50$3,730,647.67

5900.5%

November$3,354,421.25$3,627,896.75$3,809,686.83

6027.7%

December$3,414,491$3,699,032$3,888,726

6154.8%

All Time$3,084,107.38$3,307,788.13$3,454,010.58

5455.6%

The bullish explosive trend noted up to 2029 will continue for BTC based on CoinGape predictions and potentially push the average price of BTC in 2050 between $2.9 million and $3.3 million. Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.

How Will Bitcoin Price React to $3 Billion Buying Spree?

Michael Saylor, the CEO and founder of MicroStrategy, has increased the size of its convertible note from $1.75 billion to $2.6 billion. This suggests that the company will continue its BTC buying spree.

According to the announcement, the offering will close today, November 21, and is aimed at high-net-worth investors with a maturity of 2029. The blog also added,

“The notes will be sold in a private offering only to persons reasonably believed to be qualified institutional buyers.”

Investors need to note that the latest offerings has not finished yet, as MicroStrategy announces the new offering.

On a side note, here’s Michael Saylor’s tweet from two days ago.

Although this is fundamentally bullish for Bitcoin, the implication of this might not be felt in the short term. The lack of influence on BTC’s value can be attributed to over-the-counter (OTC) deals. Institutions or high-net-worth individuals use methods to conceal their buys in the short term and do not affect the market price of the underlying asset.

Regardless, the outlook is bullish, and the momentum is strong, so it wouldn’t be surprising if Bitcoin hits $100,000 before November ends.





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