Author Archives: BSCN NEWS REPORTS

Binance’s Extensive XRP Holdings Binance, the world’s largest cryptocurrency exchange, has recently published its 11th reserves report, showcasing remarkable numbers. Particularly, the report highlights the substantial growth in Binance’s XRP holdings over the past month, coinciding with increased XRP deposits by investors. Proof of Reserves Details According to Binance’s Proof of Reserves report, the exchange[Read more…]

Medium-Term BNB Analysis BNB finds support above the $212 level on the 3-hour chart. This level holds critical importance for the continuation of the uptrend. Closures above the support range of $212.59 – $212 could increase the likelihood of the price rising to $214.39 and $217.63. In case of a potential decline, closures below $212[Read more…]

Investigation Reveals Surprising Figures A recent investigation conducted by Forbes, in partnership with Gray Wolf Analytics and Inca Digital, sheds light on Binance’s initial coin offering (ICO) for BNB in 2017, suggesting that it fell far short of expectations. The report indicates that Binance likely raised less than $5 million for its native token, BNB,[Read more…]

Forbes Investigation Reveals Alleged BNB Supply Control Forbes, a reputable source, has conducted an in-depth analysis on Binance, the world’s largest cryptocurrency exchange, raising serious concerns about the control of its native token, BNB. Javier Paz’s Six-Month Investigation In a recent tweet, Javier Paz, Forbes’ Director of Data and Analytics, revealed the results of his[Read more…]

Current Challenges Faced by Binance Amidst the ongoing FTX trial for fraud and money laundering, Binance, one of the most popular crypto exchanges, is grappling with its own existential crisis. The US’s SEC has charged Binance with fraud and deceiving regulators. Additionally, a payment processor, Paysafe, abruptly halted Euro transactions for Binance, leading to its[Read more…]

Binance Coin Price Analysis The cryptocurrency market is currently showing signs of stability after a period of sideways movement. However, BNB, the token associated with Binance CEO CZ, has been displaying weak price action, leading to speculation among investors about its future. Since the beginning of September, BNB’s price has been trading within a consolidated[Read more…]

Binance’s Latest Proof of Reserves Binance, despite regulatory pressures, continues its efforts to maintain trust among its users. In its latest move to build credibility, the exchange conducted its 11th snapshot of proof of reserves. The snapshot, taken at the beginning of this month, revealed Binance’s holdings, including 588,000 BTC assets, 3.83 million ETH assets,[Read more…]

BNB Price Struggles to Surpass $220 Resistance The BNB price (Binance Coin) is facing challenges in clearing the $220 resistance against the US Dollar. If it fails, there is a risk of a significant decline below crucial support levels at $210 and $202. Key Developments Price Consolidation and Potential Movements After attempting a recovery wave[Read more…]

Binance’s BUSD Support Update Binance, one of the leading digital currency exchanges, has recently announced a gradual discontinuation of support for BUSD operations. Over the past ten months, the stablecoin has experienced a decline, and Binance has confirmed that support for BUSD will cease in February 2024. This announcement has caused a stir in the[Read more…]

Binance Coin (BNB) Price Analysis: Understanding the Current Market Trends Taking breaks within the consolidation range, the downtrend continuation in BNB price has a significant impact on the market value. Between April 18th and September 11th, 2023, Binance coin experienced a sharp fall of 41%, forming a falling wedge pattern in its price action. Despite[Read more…]