Worlds biggest cryptocurrency trading platform, Binance, has confirmed collaborating with President Bola Tinubus administration to block Nigerians from dollar-naira trade on its platform.

Binance disclosed this in an announcement on its commitment to P2P users in Nigeria on Tuesday, warning that users behaving in a manipulative way will be removed from the platform.

As industry leaders, Binance said, We are working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance.

The crypto exchange platform further said it is setting an upper limit for ads, filtering and removing bad ads, requiring and raising deposits for merchants posting ads as well as processes for actioning against any market manipulators.

On Tuesday, Binance disabled sell option for its Nigerian users, blocking them from selling fiat currency, USDT, on the platform. It also capped the buy option to $1802 for Nigerian users.

It also disabled purchase of cryptocurrencies via P2P for its Nigerian users, leaving those who might want to sell their crypto assets such as Bitcoin, BNB, Ethereum via P2P stuck.

This comes as another desperate move by the Tinubu-led government to stem naira freefall against the dollar. The naira continues to decline even after the Economic Financial Crimes Commission raided perceived currency speculators at a popular Abuja Bureau De Change hub on Monday.

Earlier on Tuesday, the National Security Adviser, Nuhu Ribadu, directed law enforcement agencies to take firm measures against anyone engaged in foreign exchange market speculation.

In a concerted effort to safeguard Nigerias foreign exchange market and combat speculative activities, the Office of the National Security Adviser and the Central Bank of Nigeria are joining forces to address challenges impacting the nations economic stability, a statement issued by Mr Ribadus office read.

It added, The CBNs proactive measures to stabilise the foreign exchange market and stimulate economic activities have been commendable. However, the effectiveness of these initiatives is being undermined by the activities of speculators, both domestic and international, operating through various channels, thereby exacerbating the depreciation of the Nigerian naira and contributing to inflation and economic instability.

The naira hit its all time low, trading for N1902 to a dollar on Tuesday before Binance blocked its Nigerian user from selling USDT on the platform.

Mr Tinubus government collaborating with Binance to block Nigerians from dollar-naira trading mirrors his predecessor, former President Muhammadu Buharis ban on cryptocurrency trading in the country in 2021. The CBN under Mr Tinubus watch in December 2023 lifted the ban on cryptocurrency.

Some Nigerian Binance users have criticised Binance on its latest move, threatening to migrate to other platforms for their dollar-naira trading.

An x user, @MikaelBernard, on Tuesday, dismissed Binances decision against Nigerian users as absolutely ridiculous, adding that If this is how they plan to save the naira, Im sorry but its going to fail woefully.

You can no longer sell your own tokens for above 1802/$. I dont know what they aim to achieve, but traders are now on telegram, selling at 1850/$ and above. Binance was only a medium. If you block Binance, people will find new ways, @MikaelBernard tweeted.

Another X user, MiracleOkeke said, So, let me understand, you literally decided to put a peg or control a somewhat person to person transaction that should normally be determined by whatever price they wish? As an open market? Jokes on you, we will move to other platforms.

With more than half of its adult population trading cryptocurrency monthly, according Binance, Nigeria ranks among countries with the largest population of crypto traders in the world.

Recent restrictions on domiciliary accounts in Nigeria by the Tinubu-led government could have also increased the number of Nigerians using the exchange to save their money or facilitate receipt of funds from abroad.

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Binance confirms working with Tinubu govt to block dollar-naira exchange - Peoples Gazette

Last updated: February 19, 2024 03:37 EST | 3 min read

Solana (SOL) continues to prove that it is the best coin to invest in today as it rises through the ranks in the crypto market, surpassing Binance Coin (BNB). Meanwhile, Algotech (ALGT) has become a favorite presale crypto.

Learn why Solana (SOL) has bypassed Binance Coin (BNB) and Algotech (ALGT) is leading the presale coins list.

On February 6, 2024, Solana (SOL) faced its first outage of the year that lasted five hours. Validators and developers got to work immediately looking for the problem and creating a solution. Despite the challenge, SOL crypto price surged from $95.55 to $101.24 the following day.

Having overcome this challenge, SOL crypto price surged between February 7 and February 14, moving from $101.24 to $116.98. The price surge was attributed to a rise in transactions, TVL on DeFi projects, and a surge in demand, causing a rise in market capitalization that saw Solana (SOL) surpass Binance Coin (BNB) for the number 4 position in the market.

Based on this information, investors are optimistic that SOL crypto price will keep rising. In the derivative markets, investors display their confidence in Solana (SOL) by investing up to $1 billion in Solana (SOL) options. Investors are optimistic it will keep rising and return favorable results.

Moreover, market experts suggest a bullish sentiment for Solana (SOL) and opine upward momentum and buyer dominance for the token, as per technical analysis. Consequently, Solana (SOL) price projections anticipate it will rise to $120 in February.

On January 31, 2024, BNB Chain, a Binance blockchain network powered by Binance Coin (BNB), announced its strategic plan for 2024, indicating a consolidation of its ecosystem to focus on DeFi, gaming, and artificial intelligence projects for the year. Following the announcement, BNB coin price fell from $307 to $300 the next day.

However, between February 7 and February 14, the market turned bullish, allowing BNB coin price to rise from $302 to $334. In this period, Binance Coin (BNB) investors returned to the market, increasing demand for BNB as shown by the rising traded volumes. Despite the rising Binance Coin (BNB) price, Solana (SOL) surpassed its market cap, pushing it to the fifth position in the crypto market.

Despite the fall in rankings, Binance Coin (BNB) investors are optimistic that BNB coin price will keep rising as long as the market performs well. Furthermore, as Binance Coins (BNB) Chain strategy gets implemented, it will attract more projects, transactions, and value, increasing its price.

Experts suggest a bullish sentiment for Binance Coin (BNB) and predict it will rise to $350 by the end of February.

Algorithmic trading is a profitable endeavor requiring traders to gain specialized knowledge, experience, and the right tools. Algotech (ALGT), a decentralized trading platform, is an advanced, blockchain-based algorithmic trading tool for all traders, beginners, and experts.

Algotech (ALGT) stands out for its openness and incorporation of machine learning. Consequently, it automates trading strategies, ensuring traders earn profit consistently. An integral skill traders need to profit is market data analysis. Algotech (ALGT) condenses complex market information to deliver precise insights, enabling accurate and speedy decision-making.Moreover, Algotech (ALGT) incorporates robust risk mitigation strategies, ensuring traders manage their capital and grow it as they learn to navigate the platform.

Algotech (ALGT) offers ALGT, its native token, in a public presale. Initially, a private sale raised $1.1 million in two days, setting it up for success as a presale crypto. With the presale in Stage 1, Algotech (ALGT) is valued at $0.04 and will rise by 50% to reach $0.06 in the next stage.

Moreover, Algotech (ALGT) entices investors with iPhones, tablets, and Apple watches that traders can access the platform from. Investors who heed the call and buy Algotech (ALGT) now can anticipate a 275% gain at the end of the presale when it reaches the $0.15 launch price.Follow these links to learn more about Algotech (ALGT) presale.

Visit Algotech Presale

Join The Algotech Community

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Solana (SOL) Surpasses Binance Coin (BNB) As Fourth Largest Cryptocurrency Algotech (ALGT) Projects Amazing ... - Cryptonews

According to a sentencing memorandum submitted by US prosecutors, Binance is likely to face monitoring for up to five years. The exchanges former CEO is awaiting a sentence after admitting to federal money-laundering violations.

Also read: Solana integrates with Filecoin to boost scalability, FIL price gains over 7%

Binance is currently facing the possibility of being monitored for up to five years, according to a sentencing memorandum submitted by US prosecutors. In November 2023, Binance pled guilty to the charges put together by the US Department of Justice, and agreed to pay approximately $4.3 billion in criminal penalties and forfeiture.

Binances former CEO and co-founder Changpeng Zhao pled guilty to the federal money-laundering violations and resigned from his position at the exchange. CZ is currently awaiting sentencing.

According to the memorandum submitted by US prosecutors, CZ could face a sentence of up to 18 months.

The sentencing memo was filed on Friday in Seattles federal court.

BNB price yielded 11% weekly gains for holders. At the time of writing, BNB price is $359.20. CZs sentence and the courts decision whether to monitor to Binance or leave the exchange be could act as factors that influence BNB price since it is the native token of the cryptocurrency exchange.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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Binance likely to be monitored for up to five years, CZs sentence could be less than 18 months - FXStreet

$PIXEL just landed on Binance 3 hours ago and wow, its up 1000%! This huge jump shows how excited people are about adding gaming coins to their crypto mix.

Think of $PIXEL like the special coins you use in games to get cool stuff. Its used in Pixels to buy extra items and upgrades that make the game even more fun. Its like buying gems in Clash of Clans to spruce up your game without needing them to move forward.

Players dig $PIXEL because it:

Its all about making the game more fun without messing with anyone elses play.

Every day, 100,000 new $PIXEL coins come out, and players doing cool stuff in the game get them. This keeps things fair and fun, rewarding players for being active and creative. You can get Free PIXEL in the game try it now! > Read more about Pixel here <

After hitting Binance, $PIXELs price shot to $0.4947, which is a huge 1117% leap! It shows how much people are getting into game coins and how they can shake up the usual crypto scene.

> Buy Pixel on Binance Now! <

$PIXELs big moment on Binance is a big deal for gaming coins. It shows theres a real place for them in the world of crypto, and its just the beginning of what could be a super exciting mix of gaming and crypto.

Bitgetstands out as a reliable crypto exchange. It provides a user-friendly interface, making it easy for both beginners and experienced traders to navigate and make transactions at the lowest fees on the market. To get started withBitget, you need to create an account, complete the necessary KYC procedures, and then you can begin trading a variety of altcoins available on the platform.

> Click here to buy cryptocurrencies<

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PIXEL Hits Binance and Jumps 1000% in Just 3 Hours - CryptoTicker.io - Bitcoin Price, Ethereum Price & Crypto News

Last updated: February 19, 2024 13:33 EST | 3 min read

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

TLDR:

Due to its ability to generate passive revenue for token holders, staking has steadily grown to be one of the most popular trends in the cryptocurrency market. As a result, on-chain data has shown that the number oftokens staked on Ethereum (ETH) has increased to a new all-time high.

In other noteworthy cryptocurrency news, Binance Coin (BNB) has surpassed a significant resistance level, potentially signaling further increases.

Also, with more than 184 million tokens sold during the presale, NuggetRush (NUGX) has been growing at a remarkable pace. Continue reading to learn more.

>> Buy NuggetRush Now <<

As of February 14, 30,659,864 million ETHtokens have beenlocked by Ethereum (ETH)validators on the Beacon Chain, according to data from the on-chain analytics platform Nansen. This represents more than 25% of all ETH tokens and a new ATH in the number of staked ETH tokens.

Etherscan shows an even bigger staking record, at39,140,039 ETH being locked on theBeacon Chain staking contract.

This increased liquidity into staking coincides with the Ethereum price recovering above $2,800 for the first time since May 2022. This means that an astounding $111 million has been locked on the Ethereum network by validators. With the value continually increasing, there are signs that the top altcoins price could increase alongside it in the coming days.

Over the past few weeks, there has been an incredible surge of interest in NuggetRush (NUGX), one of the new DeFi projects looking to transform the GameFi space. Unlike other gaming projects, NuggetRush does not run a closed in-game economy, expanding its utility into the real world thanks to its social impact gaming model.

This gold-mining game rewards players for their achievements within its hyperrealistic virtual world. Players who run successful mining operations can convert their gold and other precious minerals into real cash, gold, and the ERC20 coins of the platform, NUGX.NuggetRush has also decided to set up a fund that will distribute money to artisanal miners in underdeveloped nations, thus the reach of the project. The team behind this innovative DeFi project has announced that the smart contracts will be renounced just after launch to make community members part of the decision-making process.

In the P2E space, NuggetRushs emphasis on community building has resonated with many gamers. The project is among the top blockchain ICO projectssince it has sold over 184million tokens in record time. Even though NUGX is only worth $0.018 a coin, analysts predict that in the first quarter, its value might increase by 25x.

>> Buy NuggetRush Now <<

For most of 2023, Binance Coin (BNB) underperformed the rest of the crypto market. However, 2024 has brought a major change of trend for BNB. On the weekly chart, the price of Binance Coin has increased above the resistance levels at $350 and $360 for the first time since May 2022.

Trading above these resistance levels sets up Binance Coin for even more gains. BNB has already overtaken Solana as the fourth largest cryptocurrency. However, if it maintains the bullish momentum, it could top the $400 resistance level in the coming weeks.

The cryptocurrency market is heating up, and Ethereum staking surging to a new height highlights the growing interest from investors. While Binance coin remains one of the best altcoins to buy, NuggetRush looks set to yield bigger gains in 2024. This is why it has been one of the most sought-after tokens in the past few weeks.

Visit the NuggetRush Presale Website

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Ethereum Staking Reaches New All-Time High: Binance Coin and NuggetRush Clear Path for Massive Rallies - Cryptonews

BNB Smart Chain (BSC) was created in 2020 to run in parallel with the BNB Beacon Chain. The two chains were built for different purposes, but both are part of the broader BNB Chain ecosystem.

BSC brought new features and more customization through the use of smart contracts, fostering an explosive growth of decentralized applications and Web3 services.

Soon, the BNB Beacon Chain will be discontinued and merged with BSC, giving birth to a single, unified BNB Smart Chain.

BNB Smart Chain (BSC) is a blockchain network that offers a wide variety of Web3 tools and decentralized applications (DApps). Its a high-performance blockchain that supports smart contracts, which allow developers to create all types of services and applications, including blockchain games, governance and voting systems, decentralized finance (DeFi), and much more.

BNB Smart Chain was created in 2020 to address the limitations of the BNB Beacon Chain. So, to understand the BNB Smart Chain, its helpful to explore its relationship with the BNB Beacon Chain.

BNB Chain was launched in 2019. At the time, the BNB utility token migrated from the Ethereum network to become the native token of the BNB Chain. That early version of the BNB Chain is what we now know as the BNB Beacon Chain.

In 2022, the BNB Smart Chain (BSC) and BNB Beacon Chain were put together under the BNB Chain ecosystem. Since then, the two blockchains have continued to operate separately, serving different use cases.

Unlike BNB Beacon Chain, BSC boasts smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM). The design goal was to introduce smart contracts to the BNB ecosystem without interfering with the BNB Beacon Chain operations.

BNB Beacon Chain: Adopts the BEP-2 token standard and acts as a governance layer, with staking and voting systems.

BNB Smart Chain (BSC): Created to offer smart contract functionality. Adopts the BEP-20 token standard and works as an EVM-compatible layer with DApps, DeFi services, multi-chain support, and other Web3 applications.

In essence, both blockchains operate side-by-side. Its worth noting that BSC isnt a so-called layer 2 or off-chain scalability solution. Its an independent blockchain that could run even if BNB Beacon Chain went offline.

Because BSC is EVM-compatible, it launched with support for the rich universe of Ethereum tools and DApps. This makes it easy for developers to port their projects over from Ethereum. For users, it means that applications like MetaMask can be easily configured to work with BSC.

In late 2023, the BNB Chain team announced its plan to retire the BNB Beacon Chain, transferring its core functionalities to the BNB Smart Chain network.

The migration is expected to happen through multiple stages, starting in April 2024 and concluding in June of the same year. For more information, please refer to the BNB Chain Fusion roadmap.

BNB Smart Chain achieves ~3 second block times with a Proof of Stake (PoS) consensus algorithm. Specifically, it uses the Proof of Staked Authority (PoSA) mechanism, where participants stake BNB to become validators.

Validators are incentivized with transaction fees derived from the blocks of transactions they validate. Note that, unlike many protocols, there is no block subsidy of freshly-minted BNB, as BNB is not inflationary. In fact, the supply of BNB decreases over time as the BNB team regularly conducts coin burns.

BNB Smart Chain adopts BEP-20 as its main token standard. Have you read An Introduction to ERC-20 Tokens? Then, you are already familiar with the format of BEP-20. It uses the same functions as its Ethereum counterpart.

BEP-20 acts as a blueprint for tokens, defining important parameters and rules for token issuance and functionalities. Designed as a technical specification for BNB Smart Chain, BEP-20 allows developers to create a diverse array of digital assets, including NFTs, stablecoins, utility tokens, and more.

Blockchain transactions on the BNB Smart Chain require a small amount of BNB to be paid as gas. Similar to ETH on the Ethereum blockchain, gas fees provide an incentive for validators to confirm transactions and secure the network.

If you use PancakeSwap or other DeFi applications on BSC, you may have noticed digital assets from other blockchains, such as BTC, USDT, ETH, and many more. Such assets exist on the BNB Smart Chain as peggy coins or wrapped tokens. These are tokens that have their values pegged to the original assets on their native chains.

For instance, the BTCB token on BSC tracks the value of BTC on the original Bitcoin blockchain. This is done through smart contracts that issue a new BTCB token for every unit of BTC locked on the original chain. By doing this, we can effectively port external assets onto the BSC ecosystem.

In other words, due to the flexibility of BNB Smart Chain, assets from a number of different chains can be used in the growing DeFi space of the BNB Chain ecosystem allowing users to exchange assets, engage in yield farming, vote on proposals, and much more.

BNB Smart Chain (BSC) stands as a dynamic and high-performance blockchain within the BNB Chain ecosystem, offering a multitude of Web3 tools and decentralized applications (DApps). Created in 2020 to address the limitations of the BNB Beacon Chain, BSC has played a pivotal role in fostering the explosive growth of decentralized applications and Web3 services through the implementation of smart contracts.

Disclaimer: This content is presented to you on an as is basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

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An Introduction to BNB Smart Chain (BSC) - Binance Academy

Last updated: February 19, 2024 15:22 EST | 2 min read

Crypto exchange leader Binance announced on February 19 that it will discontinue support for leveraged trading of six tokens and subscription services.

According to an X post, these include BTCUP, BTCDOWN, ETHUP, ETHDOWN, BNBUP, and BNBDOWN paired with the USDT stablecoin.

Giving a timeframe for the discontinuance, the worlds largest crypto exchange stated that the support will end by February 28 at 06:00 (UTC).

According to an image shared, the final delisting of the affected leveraged tokens will be on April 3, 2024, by 6:00 (UTC).

The Binance exchange has not stated any reasons for the decision. Margin and regular leverage services will still be offered, however.

Self-leveraged tokens allow investors to make forecasts on the price movement of an asset. They are often leveraged versions of regular assets that enable investors to make high returns on their investments. Like all leveraged assets, however, investors can experience huge losses in a wrong forecast.

For context, in a self-leveraged BTCUP/USDT trade, investors can select Buy to make a forecast that the price of the underlying leveraged token will rise and vice-versa.

Despite the removal of self-leveraged tokens,Binance Futures is ramping up margin-based trade options.

According to a blog post by the crypto exchange, it will be adding USDC-margined ORDI (Ordinals) Perpetual Contracts to its Futures platform.

The service will kick off on February 22, and customers will get a 10% discount trading fee for accessing the service. The discounted fee offering is scheduled to end by April 3, 2024.

Further details shared state that investors will have a 75x maximum leverage ceiling. This means investors can open leveraged positions 75 times higher than their initial capital. The maximum funding rate will be pegged at +2% or -2%. The funding fee settlement will be reassessed on a four-hour interval.

The minimum accepted tick size will be set at 0.001 USDC, making it more accessible for retail investors.

The ORDI blockchain is a subset of the new generation BRC-20 token standards operating on the Bitcoin network. Created by an anonymous developer, it allows data like video, music, audio, and images to be written on individual Satoshis (units of each Bitcoin). This feature enabled the onboarding of non-fungible tokens (NFTs) on the Bitcoin network.

The Bitcoin network, by design, lacks support for smart contracts, which are essential for NFT development, as they enable autonomous code execution and financial transactions on the blockchain.

With the creation of the Ordinals protocol in early 2023, NFT trading became available on the worlds largest crypto exchange.

So far, the BRC-20 token standard ecosystem has grown and now records $2.9 billion-plus in market valuation.

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Binance to Discontinue Leveraged Token Trading and Subscription Services - Cryptonews

Binance has announced trading support for Starknet (STRK), with spot trading for the native token of the Ethereum layer-2 platform going live on February 20, 2024 and 13:00 UTC. Starknets STRK distribution opens at 12:00 UTC.

According to Binance, trading support for STRK will offer four initial spot pairs STRK/BTC, STRK/USDT, STRK/FDUSD and STRK/TRY. The exchange will also apply the seed tag to the Starknet token, implying the new trading pairs are relatively volatile as trading commences amid the high airdrop anticipation across the community.

Meanwhile, Binance will also support Starknets airdrop distribution, offering this service to its ETH staking customers.

As a ZK-Rollup L2 network, Starkent allows for massive scaling for decentralized applications (dApps) on Ethereum, all without compromising on the security. STRK is the Starknet ecosystems governance token and will also be used in the payment of transaction fees and for network validators.

Last week, the Starknet Foundation announced the first phase of STRK token distribution targeting eligible users will commence on February 20.

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As Invezz highlighted, the airdrop distribution will see over 1.3 million wallet addresses receive 700 million STRK tokens. Eligible users set to benefit from the airdrop include Starknet users (who will receive 50% of the airdrop), Ethereum stakers, Starknet developers, EIP authors, and Protocol guild members.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Starknets Provisions Program has allocated a total of 1.8 billion STRK tokens to the airdrop and the team is looking to introduce new programs and opportunities for those likely to miss the first phase.

The opportunities will be made available shortly the Starknet Foundation posted on X as it reminded its community of the STRK Provisions launch at 12pm UTC on February 20.

Other crypto exchanges, including Bitfinex, OKX, Bitget, MEXC, KuCoin, HTX, Bybit, and BitMEX, have also announced trading support for STRK.

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Binance to list Starknet (STRK), support airdrop distribution - Invezz

Press Releases are sponsored content and not a part of Finbold's editorial content. For a full disclaimer, please . If you encounter any issues, kindly report them to [emailprotected]. Crypto assets/products can be highly risky. Never invest unless youre prepared to lose all the money you invest.

The crypto world is rapidly growing, with several projects leading the charts. One standout crypto project is Algotech (ALGT). This newly launched cryptocurrency is in its presale round, and has secured over $455,000 in funding within days.

Other projects like SUI (SUI) and Binance (BNB) have also moved in the green. However, their growth rate is not as convincing as that of Algotech (ALGT).

With a continuous rise in price charts, SUI (SUI) has become one of the best-performing cryptocurrencies in 2024. In the last month, the market value of SUI (SUI) has increased by 30%. Consequently, SUI (SUI) is currently trading at $1.84.

One of the major reasons behind SUIs (SUI) rise is increased activity on its network. The on-chain data shows that the assets deposited on the SUI (SUI) blockchain have skyrocketed by 92% since January 1.

With this, SUI (SUI) has become one of the top ten chains by total value locked. At present, the TVL of SUI (SUI) is more than $609 million.

Binance (BNB) recently grabbed the attention of the crypto community after moving a significant amount of XRP tokens. On February 13, Binance (BNB) transferred a whopping 200 million XRP tokens to an unidentified wallet. As per reports, Binance (BNB) has activated the receiving address on December 21.

However, the real reason why Binance (BNB) transferred these XRP tokens is still not clear. Meanwhile, Binance (BNB) has witnessed an increase in its price movement. On the monthly price chart, Binance (BNB) has soared by 12%. Hence, at the time of writing, Binance (BNB) is changing hands at $355.08.

Thanks to technological advancements, traditional manual trading has given way to algorithmic trading. Algo trading has become popular for its accuracy, low cost, and high efficiency. Therefore, around 70%-80% of traders globally use algorithms in trading. Now, Algotech (ALGT) has launched a novel crypto trading platform to capitalize on this trend.

The new platform offers advanced technologies. It analyzes market trends, patterns, and vast data sets to identify the best digital assets. Besides, Algotech (ALGT) has planned to list multiple trading pairs. For this, it will collaborate with leading crypto exchanges.

Algotech (ALGT) will also offer arbitrage services. Through this, Algotech (ALGT) users can exploit price differences between different crypto exchanges. The platform will promote social trading. Here, users can copy the successful trades of seasoned and professional traders. They can also share their trading strategies with other traders in the Algotech (ALGT) community.

Due to these features, the demand for Algotech (ALGT) has surged significantly. More than 25% of tokens assigned to the platforms presale Stage 1 are sold out within a few days of its launch. Currently, investors can lock an ALGT token at just $0.04, which will rise to $0.06 in the next stage.

Moreover, analysts predict that the tokens price can go up by 275% during the presale round. Interestingly, users can start locking presale ALGT tokens for just $25.

Notably, the holders of presale ALGT tokens will win several giveaways. It includes prizes like the latest iPad, VIP tickets to a blockchain event in Dubai, and many more. The ALGT token holders will also get voting rights on the platform.

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SUI's (SUI) TVL Surges; Binance (BNB) Moves Bulk XRP Tokens; Algotech (ALGT) Is The Best Coin To Invest In 2024 - Finbold - Finance in Bold

Tomiwabold Olajide

As part of plea agreement, Binance would be monitored for up to five years

As reported by Bloomberg, U.S. prosecutors are looking to reach a plea agreement in the Binance case initiated by the Department of Justice (DOJ).

U.S. prosecutors asked a federal judge to accept an earlier plea deal in a sentencing letter submitted on Friday in a federal court in Seattle, according to Bloomberg, justifying one of the largest criminal penalties in U.S. history.

According to the U.S. prosecutors, "Given the nature and seriousness of Binances misconduct it was intentional and led by senior executives, with hundreds of millions of dollars of collateral consequences, the penalties in the proposed plea agreement are appropriate."

As part of the plea agreement, Binance would be monitored for up to five years.

Changpeng Zhao, the former CEO of Binance, entered a guilty plea to charges of money laundering and is scheduled to be sentenced in April.

On Nov. 21, Zhao entered a guilty plea to a charge of neglecting to uphold a successful anti-money laundering policy at Binance, the largest cryptocurrency exchange globally, which he created.

To resolve the Department of Justice's (DOJ) investigation into violations of the Bank Secrecy Act (BSA), failing to register as a money-transmitting business, and the International Emergency Economic Powers Act (IEEPA), Binance simultaneously agreed to pay $4.3 billion in fines and restitution.

Binance's guilty plea was part of coordinated resolutions with the U.S. Commodity Futures Trading Commission (CFTC), the Office of Foreign Assets Control (OFAC) and the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN).

About the author

Tomiwabold Olajide

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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Binance Case Nearing Resolution? US Prosecutors Push for Plea Deal in New Move - U.Today