Binance tightens South African compliance rules for crypto transfers
Binance will require South African users to provide sender and receiver details for deposits and withdrawals starting April 30.
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Binance tightens South African compliance rules for crypto transfers
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Binance is set to implement new compliance measures for South African users, requiring sender and receiver information for all crypto deposits and withdrawals.
In an announcement on April 23, the largest exchange in terms of daily trading volume of cryptocurrencies said the move comes in response to local regulatory demands.
Starting April 30, Binance users in South Africa will be prompted to provide additional information when transferring crypto.
For deposits, users must disclose the sender’s full name, country of residence, and, if applicable, the name of the originating crypto exchange. Similarly, withdrawals will require beneficiary details before processing.
Binance to require information for all crypto transfers in South Africa. Source: Binance
The update will only impact crypto deposits and withdrawals, leaving trading and other platform features unaffected.
Related: US judge transfers Binance lawsuit to Florida, citing first-to-file rule
Missing transfer details may reverse transactions
Binance warned that failure to provide the required information may result in delayed transactions or, in some cases, a return of funds to the sender.
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In preparation for the rollout, users will need to re-login to their accounts starting April 24.
The change comes as South Africa moves to boost oversight of the rapidly moving crypto sector.
On April 2, Bloomberg reported that South Africa’s Revenue Service (SARS) is urging individuals, crypto exchanges and intermediaries involved in crypto transactions to register with the authority, warning that failure to do so is now illegal.
In March, the Financial Sector Conduct Authority (FSCA) of South Africa issued a public warning against two unlicensed crypto firms, Afriinvest and Mutualwealth, accusing them of soliciting investments while promising unrealistic returns of up to 10,000 rand ($542) per day.
Related: Binance, KuCoin, MEXC report service issues due to AWS network interruption
South Africa pushes to become key crypto hub
Emerging economies across Africa, particularly South Africa, are positioning themselves as potential digital asset hubs amid growing regulatory clarity, Ben Caselin, chief marketing officer (CMO) of Johannesburg-based crypto exchange VALR, told Cointelegraph in September 2024.
Caselin said that South Africa’s strong legal framework and ease of business make it a key entry point for crypto expansion across the continent.
The South African crypto market is projected to generate $278 million in revenue in 2025, with expectations to grow at a compound annual growth rate (CAGR) of 7.86% and reach $332.9 million by 2028, according to Statista.
Revenue in South Africa’s crypto market is expected to grow by 7.86% by 2028. Source: Statista
Regulatory momentum is increasing, with the FSCA approving 59 crypto platform licenses in March 2024, while over 260 applications remain under review.
Cointelegraph contacted Binance for comments but did not receive a response by publication.
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Ethereum bounces back as market dominance recovers from all-time low
Ether has outperformed Bitcoin and the wider crypto market with a 15% surge, helping it bounce from an all-time low market dominance.
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Ethereum bounces back as market dominance recovers from all-time low
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Ethereum’s price has surged after having been in the doldrums for weeks, helping boost its market share after it hit record lows.
Ether
$1,794
has surged almost 15% over the past 24 hours, topping $1,800 on April 23. It has outperformed Bitcoin, which notched a 6% gain, and the wider crypto market, which has climbed almost 5% to reclaim a total market value of $3 trillion.
Ether has now managed to recover almost 30% since its April 9 crash to $1,400, leading some analysts to suggest that the worst may be over for the world’s second-largest crypto asset.
“You can hate Ethereum all you want, but when it has a big day, the entire crypto ecosystem goes up,” crypto trader and analyst “Income Sharks” commented to their 640,000 X followers.
Market analyst “Ash Crypto” said ETH was “about to explode,” drawing comparison from the current chart pattern for Ether to that for Bitcoin’s performance in late 2024.
BTC vs ETH performance and prediction. Source: Ash Crypto
Jeff Mei, chief operating officer at the crypto exchange BTSE, was not conviced Ethereum was moving idependently, and told Cointelegraph that Ether’s gain “was largely due to it tracking the price of Bitcoin and the overall market,” and that that Paul Atkins’ confirmation as chair of the US Securities and Exchange Commission had boosted overall market sentiment.
Earlier this month, ETH had fallen back to bear market prices and had seen its market share dwindle amid a wide market downturn marred by fears of a trade war.
On April 22, analyst “Rekt Capital” said that ETH’s market dominance has fallen back to all-time lows but “managed to protect 2019 all-time lows as support.”
ETH dominance fell to its September 2019 low of 7% on April 22, according to TradingView. However, its subsequent price pump has seen that share bounce off this critical support level and return above 7.5% on April 23.
ETH dominance lows. Source: Rekt Capital
Fundamental catalysts supporting the move
10x Research’s Markus Thielen told Cointelegraph that it hasn’t taken much to drive Ethereum higher, as a “heavily shorted market is now experiencing a squeeze.”
Related: Ethereum Foundation shifts focus to user experience, layer-1 scaling
Technically, Ethereum was oversold on both daily and weekly timeframes, setting the stage for a rebound, he said.
“With the upcoming upgrade moving to mainnet, there’s also a fundamental catalyst supporting the move.”
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5 essential tips for navigating the chaotic world of memecoins
With over $140 billion in value, memecoins pack serious volatility, where fortunes can be made or lost in a matter of hours.
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Memecoins — cryptocurrencies inspired by internet memes — have become a market worth over $100 billion. Ranging from early standouts like Dogecoin and Shiba Inu to newer arrivals like Pepe and Bonk , these assets are famous for massive gains and equally dramatic crashes. For market participants exploring this high-volatility segment or aiming to refine existing strategies, the following five essential tips can assist in navigating the memecoin frenzy.
Discovery — Identify promising memecoins early
Trading — Buy and sell like a pro
Analysis — Know the data behind the meme
Risk management – Avoid rugs, scams and FOMO
Profit booking – Know when to exit
Discovery — Identify promising memecoins early
The most substantial returns on memecoins often materialize at the earliest stages. Once a token garners mainstream attention, the likelihood of exponential upside commonly diminishes. In January 2025, more than 1,250 memecoins appeared on the market, illustrating just how quickly new projects can flood the space.
For those looking to stay ahead of the curve, specialized tools and platforms help streamline the discovery process. Launchpads like Pump.fun or MemePad offer early access to emerging tokens. Platforms such as Twitter, Reddit, Telegram and Discord serve as real-time sentiment trackers, revealing where market interest might be heading.
Meanwhile, services such as DEX Screener highlight memecoins by tracking volume and liquidity increases. Some artificial intelligence-driven solutions even rank memecoins with high potential based on onchain activity from high-value wallets, providing a quicker route to spotting fresh opportunities before they saturate wider channels.
Trading — Buy and sell like a pro
Blindly diving into memecoins, especially those capable of doubling overnight, is a quick way to incur losses. Setting take-profit targets, using limit orders and stop-losses, and confirming token contract addresses on decentralized exchanges (DEXs) are best practices to mitigate risk.
Timing is everything — chasing green candles or responding to social media hype often leads to overpriced entries. Centralized exchanges such as Binance, MEXC or Coinbase can be more accessible for newcomers, while specialized DEX tools like slippage checkers (which measure the difference between a quoted price and the actual execution price) and MEV-protection solutions (designed to shield transactions from frontrunning or sandwiching) offer advanced safeguards.
Liquid staking platform Stader Labs’ AI-driven aggregator Cabbage introduces an additional layer of convenience for those seeking faster execution. With its “YOLO Buys” feature, users can purchase memecoins instantly using pre-set filters (such as 0.5 SOL or 1 SOL), optimized slippage and one-click functionality.
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Instead of juggling multiple browser tabs and Telegram bots, Cabbage’s AI-powered feed ranks the top 20 memecoin opportunities in real time, referencing both onchain data and wallet activity.
For participants willing to embrace higher risk, “DEGEN mode” offers near-instant insights into trades made by influential wallets, enabling immediate reactions to sudden market movements. It functions like Tinder for tokens, minus the swiping.
Analysis — Know the data behind the meme
Relying on hype alone exposes market participants to excessive volatility. Some memecoins revolve purely around vibes, while others transform into ecosystems with ongoing development and community support.
Distinguishing between the two calls for a thorough investigation, including community health (authentic engagement rather than bot-driven activity), onchain metrics such as holder distribution and liquidity locks, and social momentum tracked through influencer commentary and platform mentions.
A simpler approach appears in Cabbage’s forthcoming analytics suite. Crowd Pulse condenses social sentiment and key opinion leader (KOL) insights, while Whale Watch highlights “smart money” positions, detailing transaction histories and performance.
Rather than hunting through Twitter threads or scrutinizing Etherscan logs, these features offer centralized access to data that clarifies which projects have the substance to outlast the typical memecoin life cycle.
Risk management – Avoid rugs, scams and FOMO
Doing thorough research is essential in a memecoin market prone to honeypots, fake presales and exploits. Tools such as TokenSniffer or RugDoc help users by confirming contract legitimacy and verifying liquidity lock statuses.
Emotional discipline remains equally important; greed and fear of missing out (FOMO) often drive rash decisions. Fundamental precautions, like only allocating what can be safely lost, diversifying among multiple projects and locking in profits at regular intervals, can mitigate damaging losses.
Cabbage’s Safety Check feature adds another layer of security by automatically evaluating tokens for insider-heavy holdings or unlocked liquidity, which are factors that can indicate rug risk. Certain components of this functionality already reside in the AI Feed, giving participants a built-in filter before taking on highly speculative positions.
Profit booking – Know when to exit
Having a defined exit strategy can reduce the regret of selling too soon or holding until gains disappear. Some traders recover their initial capital once a memecoin doubles, others sell additional portions at higher multiples (like 5x) and some reserve a small fraction for a potential extended rally.
Trading features like limit orders, price alerts or auto-sell bots can handle the execution, while keeping an eye on hype indicators such as celebrity posts or news saturation can signal when public interest peaks. Tracking whale exits further clarifies whether momentum might be cooling.
In these high-volatility environments, locking in profits early often proves more prudent than waiting for an elusive price spike, favoring those who secure their gains and move on to new opportunities.
Final thoughts
Memecoin trading can feel like chaos theory in motion — fast-moving, hype-driven and often unforgiving. But with the right mindset and tools, anyone can navigate it with confidence. Cabbage, built by Stader Labs, aims to simplify this madness.
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