Pectra Upgrade: Ethereum's Most Significant Overhaul Yet
Ethereum has recently completed its Pectra upgrade, which is being hailed as one of the most substantial improvements to the network since the 2022 Merge. This upgrade introduces a range of changes designed to enhance the scalability, efficiency, and overall performance of the Ethereum blockchain.
What is the Pectra Upgrade?
The Pectra upgrade encompasses 11 Ethereum Improvement Proposals (EIPs) that bring important changes to Ethereum's functionality. Among these, key improvements include:
1. **Increased Staking Capacity** The maximum amount of Ether (ETH) a single validator can stake has been raised from 32 to 2,048 ETH. This allows larger entities to participate in securing the Ethereum network and provides a better balance of power within the staking mechanism.
2. **Transaction Speed and Cost Efficiency** One of the primary goals of Pectra is to make Ethereum more affordable and faster for users. The upgrade optimizes network operations, reducing transaction costs and enhancing processing speeds, which is crucial for developers and end-users.
3. **Improved Wallet Usability** Ethereum’s upgrade also includes improvements to wallet functionalities, making it easier for users to interact with decentralized applications (dApps) and manage their ETH.
4. **Security Enhancements** Enhanced security protocols are a core feature of the Pectra upgrade, ensuring that Ethereum remains resilient to attacks while providing a stable environment for developers and investors.
Market Impact and Future Outlook
While the Pectra upgrade has been celebrated as a technological advancement for Ethereum, the impact on Ether’s price has been somewhat moderate. Analysts are cautious in predicting an immediate spike in prices, but they are optimistic about long-term effects as the improvements make Ethereum more scalable and user-friendly.
How to Earn $1000 USD on Binance – Step-by-Step Guide for Beginners
Earning $1000 USD on Binance might sound like a dream, but with consistency, smart strategies, and a clear understanding of the platform, it's achievable even for beginners. Binance is one of the world's largest and most trusted cryptocurrency exchanges, offering multiple ways to generate income, both active and passive. Here's a breakdown of how you can work towards your first $1000:
1. Learn the basics of crypto and Binance Before diving into trading or investing, it’s important to understand how the cryptocurrency market works. Spend time exploring Binance Academy, YouTube tutorials, and other educational content. Learn about spot trading, futures, staking, and risk management. Knowledge is your first investment.
2. Spot trading: start small, grow steady Spot trading is where you buy and sell actual cryptocurrencies. Start with coins like Bitcoin (BTC), Ethereum (ETH), or BNB. Use strategies like Dollar Cost Averaging (DCA)—investing fixed amounts regularly—to avoid the pressure of market timing. As the market grows, so does your portfolio.
3. Binance Earn – make your crypto work for you If you’re not into active trading, Binance Earn is your go-to. You can stake your assets and earn interest on coins like USDT, BNB, or ETH. There are flexible and locked savings options. For example, staking $500 worth of crypto with 5–10% annual yield can passively generate $50–$100+ over time.
4. Participate in Launchpool and Launchpad Binance Launchpool allows users to stake tokens (usually BNB or other cryptos) in return for newly launched tokens. These new coins can grow rapidly in value. Many users have earned hundreds of dollars just by staking early and selling at the right time.
5. Futures trading (advanced users only) For those who have experience and are willing to take calculated risks, futures trading offers the potential for high gains. With leverage, small price movements can turn into large profits. But beware: the risk of loss is also high. Never trade with money you can’t afford to lose.
6. Referral program – earn by inviting others Binance rewards users for bringing new people to the platform. Share your referral link and earn a percentage of your friends’ trading fees. If you build a network or community around crypto, this can turn into a consistent revenue stream.
7. Join promotions, competitions, and airdrops Binance regularly hosts promotions and trading competitions with big rewards. Keep an eye on the Binance announcement section and join events that match your interests and trading level.
8. Stay consistent and patient The key to reaching your $1000 goal is not just about making one lucky trade. It’s about learning, staying consistent, and avoiding impulsive decisions. Track your progress, reinvest profits wisely, and always have a clear risk management plan.
Final thoughts Making $1000 on Binance isn’t a get-rich-quick scheme. It takes time, knowledge, and discipline. But with the wide range of earning options offered by Binance—from trading and staking to referrals and launchpads—you can build your way to $1000 and beyond.
Start small, stay smart, and let your crypto journey begin.
How to earn up to \$500 on Binance without trading
You don’t need to be a trader to make money on Binance. In fact, there are several ways to earn passive income or rewards without buying or selling crypto. Here are 5 smart ways to earn up to \$500 without trading:
1. Binance Earn (Simple Earn) Deposit your crypto assets like USDT, BNB, or ETH into flexible or locked savings. You'll earn daily interest just by holding your assets. It's similar to earning profit from a savings account.
2. Launchpool – Stake and earn new tokens Stake BNB or other eligible tokens in Launchpool to receive free tokens from new crypto projects. It’s an easy way to earn rewards just by participating early in promising projects.
3. Referral Program Invite your friends to Binance using your referral link. You can earn up to 40% commission on their trading fees. No need to trade yourself – just share and earn.
4. Learn & Earn (Binance Academy) Watch educational videos and complete simple quizzes to earn free crypto. It’s perfect for beginners who want to learn and earn at the same time.
5. Tasks and Promotions (Rewards Center) Check the Rewards Center regularly for promotions like welcome bonuses, staking tasks, or event rewards. Completing simple activities can earn you valuable crypto bonuses.
Pro tip: You can combine multiple options to steadily build up your rewards. Many users have earned \$100 to \$500+ without ever placing a trade.
Crypto Regulation: Balancing Innovation with Security
As cryptocurrencies continue to reshape the financial landscape, regulation has become a critical topic of global discussion.
Why regulation is necessary:
1. Consumer protection – Many investors have faced losses due to scams and unregulated exchanges. Regulation can enforce transparency and accountability. 2. Market stability – Rules can help reduce extreme volatility and market manipulation. 3. Anti-Money Laundering (AML) compliance – Crypto can be used for illicit activities. Regulations like KYC (Know Your Customer) are vital for tracking and transparency. 4. Legal clarity – A clear regulatory framework encourages responsible innovation and builds trust among institutional investors.
Challenges in regulating crypto:
* Decentralization: With no central authority, applying traditional laws is complex. * Global nature: Crypto operates across borders, but regulations vary by country. * Innovation risk: Overregulation can stifle technological advancement.
Examples of global approaches:
* US: Divided stance – the SEC treats some tokens as securities; ongoing court cases are shaping the landscape. * EU: MiCA (Markets in Crypto-Assets Regulation) provides a unified framework for all member states. * UAE & Singapore: Emerging as crypto-friendly hubs with clear, business-oriented regulations.
The future? Effective crypto regulation must strike a balance: protecting users and maintaining market integrity—without choking innovation. Governments, developers, and the crypto community must collaborate to build a secure and inclusive financial future.
Celebrating Binance Pizza Day – 15 Years Since the First Crypto Transaction
Binance Pizza Day isn't just about free pizza—it marks one of the most iconic moments in crypto history.
On May 22, 2010, a developer bought two pizzas for 10,000 BTC, making it the first recorded real-world purchase using Bitcoin. Today, that moment is a symbol of how far crypto has come.
In 2025, Binance celebrated the 15th anniversary by delivering over 5,000 pizzas in more than 20 countries, including Thailand, Dubai, Paris, and Auckland. From pizza vans to meetups hosted by the local crypto community, the event brought users together to honor crypto’s journey from an idea to a global movement.
Alongside the celebration, Binance launched a \$500,000 referral prize pool to reward users for inviting friends to trade and explore crypto—further pushing mainstream adoption.
Binance Pizza Day is more than just a party. It’s a reminder of crypto’s humble beginnings, and how community, innovation, and vision can turn two pizzas into a multi-trillion-dollar ecosystem.
The next slice of the future is being baked—are you a part of it?
With this upgrade, Ethereum strengthens its position not just as a cryptocurrency but as a foundational infrastructure for the future of Web3 and decentralized apps.
The future of Ethereum is faster, smarter, and more scalable.
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Mastercard x Ethereum – Stablecoins in Real Life
In a landmark move bridging traditional finance and crypto, Mastercard is now integrating stablecoins on Ethereum for everyday payments.
What does this mean?
* Real-world use cases: You can soon use stablecoins like USDC to pay at retail stores through Mastercard’s global network. * Cross-border transactions: Sending money abroad is about to get faster and cheaper, reducing dependency on slow and costly remittance services. * Crypto debit cards: Mastercard and MoonPay are rolling out crypto-funded debit cards, making it easier to spend digital assets in fiat currencies. * On-chain identity tools: Innovations in identity and security are being developed to ensure safe and compliant usage of Ethereum-based assets.
This is a massive step toward mass adoption, showing how Ethereum isn't just powering NFTs and DeFi—it’s becoming a part of everyday financial systems.
The future of finance is borderless, fast, and decentralized—and Ethereum is leading the charge.
Ethereum just took a major leap forward with its Pectra upgrade, the most substantial enhancement since the Merge in 2022.
What makes it significant?
* Faster transactions: The network is now more scalable, allowing quicker and cheaper transactions. * Validator upgrade: The cap for validators increased from 32 ETH to 2,048 ETH—greatly improving staking efficiency and reducing fragmentation. * Smart wallet features: Pectra introduces improvements in wallet usability, making Ethereum more user-friendly for both developers and users. * Altcoin momentum: Thanks to Pectra, ETH surged over 45% in May 2025, outperforming Bitcoin—a rare and powerful signal for altcoin momentum.
With this upgrade, Ethereum strengthens its position not just as a cryptocurrency but as a foundational infrastructure for the future of Web3 and decentralized apps.
The future of Ethereum is faster, smarter, and more scalable.
#BitcoinWhaleMove | What Do Major Bitcoin Transactions Mean for the Market?
Bitcoin whale moves—large transactions involving significant amounts of Bitcoin—have always been a topic of intrigue and speculation. These moves often spark questions about the potential market impact, but what exactly do they indicate?
Understanding Whale Moves:
1. Who Are Bitcoin Whales? A Bitcoin whale is typically someone who holds a large amount of Bitcoin—often over 1,000 BTC. These entities can be institutional investors, early adopters, or even crypto exchanges. Their actions can influence the market due to the sheer size of the transactions.
2. Why Do Whales Move Bitcoin?
* Portfolio Rebalancing: Whales may move Bitcoin to diversify into other assets or stablecoins. * Risk Management: Some may move funds to exchanges for liquidity in anticipation of market movements. * Private Transactions: In some cases, whales may prefer to transfer BTC to cold storage or another wallet for security reasons. * Market Signals: A sudden move of a large quantity can signal confidence or concern. A whale selling may suggest bearish sentiment, while a whale buying could indicate a bullish outlook.
3. Impact on the Market
* Price Volatility: Large Bitcoin transactions can cause price fluctuations. For example, a whale selling a large amount may temporarily drive prices down, while a purchase can push prices up. * Market Sentiment: Whale moves can trigger speculation among retail investors, who may react by either buying or selling, amplifying the effects of the transaction. * Chain Reactions: In some cases, a whale move is followed by other market participants, contributing to price shifts.
4. Tracking Whale Moves Thanks to tools like blockchain explorers, anyone can track large Bitcoin transactions in real-time. Websites like Whale Alert track transactions above certain thresholds and provide detailed insights into when and where Bitcoin is being moved.
5. Are Whale Moves Predictive? While whale moves can sometimes offer insights into market sentiment, they don't guarantee future trends. It's important to consider other factors like global economic conditions, regulatory news, and overall market trends.
Conclusion: Bitcoin whale moves are an intriguing aspect of the market, providing valuable insights into potential market shifts. However, these moves should be viewed with caution. As always, investors should consider a wide range of factors before making trading decisions.
#BTCNextATH | Will Bitcoin Break Its Previous Records in 2025?
Bitcoin's price trajectory is once again in the spotlight as analysts and investors debate: Is the next all-time high (ATH) around the corner?
Key factors driving the speculation:
1. Post-Halving Momentum The Bitcoin halving in April 2024 reduced the mining reward from 6.25 to 3.125 BTC. Historically, previous halvings (2012, 2016, 2020) were followed by major bull runs within 12–18 months. If history repeats, a new ATH could be likely in 2025.
2. Institutional Adoption Companies like BlackRock, Fidelity, and MicroStrategy continue to accumulate BTC. The approval of Bitcoin ETFs has brought additional legitimacy and liquidity to the market.
3. Global Economic Uncertainty With inflation fears and fiat instability in some countries, Bitcoin is increasingly being viewed as a hedge, similar to gold. This "digital gold" narrative boosts demand and price speculation.
4. On-Chain Metrics
* Exchange Outflows: A large amount of BTC is being moved off exchanges, suggesting long-term holding. * HODL Waves: A significant portion of BTC supply hasn't moved in over a year—a bullish signal. * Hash Rate: Still near all-time highs, showing strong network security and miner confidence.
5. Psychological Milestone – \$100,000 Many believe BTC will not only surpass its previous ATH (\~\$69,000) but also reach psychological levels like \$100K, backed by stronger market infrastructure than in 2021.
Conclusion: While past performance doesn't guarantee future results, the current fundamentals, market sentiment, and historical patterns make the case for a possible new ATH in 2025 quite compelling. Still, investors should remain cautious and informed, as volatility remains a core characteristic of the crypto space.
Bitcoin Breaks $100K: What's Fueling the Surge in May 2025?
Bitcoin has once again captured the spotlight, surging past the $100,000 mark and currently trading around $103,105. This rally is driven by a mix of macroeconomic shifts, regulatory developments, and increasing institutional interest.
Key Factors Driving Bitcoin's Momentum:
1. Institutional Adoption and ETF Approvals The approval of multiple Bitcoin ETFs, including those by major firms like BlackRock and Invesco, has opened the doors for institutional capital. These ETFs simplify access for traditional investors, significantly boosting demand.
2. Geopolitical Tensions and Economic Uncertainty With ongoing global economic instability and weakening fiat currencies, Bitcoin is being viewed as a hedge against inflation and currency risk. Its decentralized nature is appealing to those looking for an alternative store of value.
3. Technical Indicators and Market Sentiment Technical charts show strong bullish momentum, with Bitcoin breaking key resistance levels. The Relative Strength Index (RSI) suggests overbought conditions, but market sentiment remains highly optimistic.
Looking Ahead: If current momentum continues, Bitcoin could test new all-time highs soon. However, regulatory shifts and potential market corrections remain factors to monitor.
Crypto Round Table: Key Takeaways from Binance's Perspective
The recent Crypto Round Table brought together industry leaders, policymakers, and blockchain enthusiasts to discuss the evolving landscape of digital assets. Among the highlights, Binance's contributions stood out for their forward-thinking approach and emphasis on global collaboration.
Here are some insightful remarks shared by Binance during the session:
1. Regulatory Harmonization is Critical: Binance stressed the need for global regulatory alignment to foster innovation while ensuring user protection. A fragmented approach, they noted, hinders cross-border crypto adoption and innovation.
2. User-Centric Security Model: Binance highlighted their multi-layered security infrastructure and ongoing efforts to educate users on safe trading practices. “Security is not just technology—it's culture,” one exec remarked.
3. Web3 and Financial Inclusion: The platform reiterated its belief in the power of Web3 to bridge financial gaps globally. With initiatives like Binance Academy and Binance Charity, the company is investing in blockchain literacy and social impact.
4. DeFi Integration with CeFi: Binance acknowledged the rise of decentralized finance (DeFi) and expressed a vision to create bridges between CeFi and DeFi to provide users with the best of both worlds—security and autonomy.
5. Sustainability in Mining & Operations: In response to environmental concerns, Binance is exploring partnerships focused on green mining solutions and blockchain for sustainability projects.
Final Thought: Binance's active participation in the round table reflected a maturing stance—balancing innovation with compliance and community trust. As the crypto industry moves forward, such dialogues are essential for shaping a resilient and inclusive digital future.
Stay sharp, traders! Today’s Consumer Price Index (CPI) release is more than just a macroeconomic data point—it’s a key market mover for both traditional and crypto assets.
Why it matters: CPI measures inflation, and high inflation often prompts interest rate hikes from central banks like the Federal Reserve. Rate hikes can strengthen the dollar and put downward pressure on risk assets like Bitcoin (BTC) and Ethereum (ETH).
Today’s impact on crypto markets:
If CPI is higher than expected, it could signal tighter monetary policy ahead, potentially leading to a pullback in crypto prices.
If CPI is lower than expected, the market may anticipate looser policy or a rate cut sooner, potentially giving a bullish push to major coins.
Binance strategy tip: Watch how BTC/USDT and ETH/USDT react in the first hour post-announcement. Smart traders hedge risk and use tools like stop-limits and grid bots to navigate the volatility.
What to monitor:
CPI YoY and MoM numbers
Core CPI (excludes food & energy)
BTC Dominance and USDT inflows on Binance
Final thought: Macro data like CPI is becoming increasingly relevant for crypto investors. Whether you're day trading or HODLing, keeping an eye on inflation trends helps you stay ahead of the curve.
📊 Bitcoin Emerging Trends You Shouldn’t Miss in 2025 🚀
As Bitcoin (BTC) continues to evolve beyond just a digital currency, several emerging trends are shaping its future in 2025.
1. Institutional adoption is accelerating. With BlackRock, Fidelity, and other financial giants entering the space, Bitcoin is gaining recognition as a long-term, reliable asset class.
2. Spot Bitcoin ETFs are unlocking new investor segments, allowing traditional market participants to gain exposure to BTC without holding it directly.
3. Layer 2 solutions like the Lightning Network are scaling Bitcoin, enabling faster and more cost-effective transactions—making everyday use more practical.
4. Sustainable mining is becoming a priority. More mining operations are shifting toward renewable energy, helping to reduce Bitcoin’s carbon footprint.
5. The macro hedge narrative is getting stronger. Amid global inflation, currency instability, and economic uncertainty, Bitcoin is increasingly being viewed as digital gold.
Bitcoin is no longer just about speculation—it's part of a larger financial and technological revolution.
🚨 The Meme Act: What It Means for Crypto Traders 🚨
If you're riding the meme coin wave, you need to know about the emerging regulatory buzz: the Meme Act.
What is the Meme Act? It's a proposed framework (not officially passed yet) to regulate meme coins—tokens that gain popularity through internet culture rather than utility or fundamentals.
Why It Matters: Meme coins like DOGE, SHIB, and PEPE often experience extreme volatility, pump-and-dump schemes, and FOMO-driven hype. The Meme Act aims to:
* Ensure transparency in tokenomics * Protect retail investors from scams * Set standards for disclosures by creators/influencers * Prevent market manipulation
What It Means for Binance Users: Binance may need to enforce stricter listing requirements, enhance risk disclosures, or even delist meme tokens lacking transparency.
Pro tip: Whether you’re a meme coin believer or just here for the vibes—DYOR (Do Your Own Research) is your best protection.
Memes can make millions. But real knowledge builds wealth.
🔔 What is the FOMC Meeting and Why Does It Matter? 📉📈
At BINCAE, we believe in empowering our community with financial knowledge. One key event that moves global markets is the FOMC meeting — but what is it exactly?
The Federal Open Market Committee (FOMC) is the monetary policymaking body of the U.S. Federal Reserve. It meets eight times a year to discuss and decide on key interest rate policies, which influence:
✅ Inflation ✅ Employment levels ✅ Consumer and business borrowing ✅ Stock market trends ✅ Global economic ripple effects
A single rate hike or cut announced in an FOMC meeting can strengthen or weaken the U.S. dollar, impact developing markets, and even shape investment decisions around the world.
Whether you’re a student, entrepreneur, or investor in Pakistan — understanding the FOMC helps you make smarter financial decisions.
🗓️ Stay tuned for updates from the next FOMC meeting and their implications — simplified by BINCAE for your better understanding!
Bitcoin is entering a new phase in 2025, driven by innovation, institutional interest, and increased utility beyond its traditional role as digital gold. One of the most promising trends is the integration of Bitcoin into decentralized finance (DeFi). Currently, only a small fraction of BTC is used in DeFi applications. With the rise of Bitcoin Layer-2 solutions like Stacks and Lightning Network, we can expect greater adoption of BTC in lending, staking, and decentralized trading.
Binance is playing a key role in this transition by investing in and supporting infrastructure that enables Bitcoin utility across ecosystems. The platform's research division has emphasized that expanding BTC’s role in DeFi can unlock massive value and increase user engagement globally.
Institutional adoption is also on the rise. In a groundbreaking move, Abu Dhabi’s MGX committed \$2 billion in stablecoins to Binance, demonstrating strong confidence in both Bitcoin and Binance’s global leadership in crypto finance. This represents one of the largest institutional crypto investments to date and could spark further inflows into Bitcoin-related products.
Moreover, Binance continues to collaborate with governments to shape crypto regulations and advise on the creation of digital asset reserves. This indicates a shift from skepticism to strategic planning at the state level, as countries look to adopt Bitcoin into their financial frameworks.
Educational efforts are also expanding. Binance Academy and related initiatives are educating millions on blockchain, security, and crypto adoption, ensuring a more informed user base as adoption spreads.
In summary, Bitcoin’s future in 2025 is marked by growth in DeFi integration, institutional capital inflow, regulatory collaboration, and education — with Binance driving many of these trends.
📊 Understanding the U.S. Housing Market Structure — A Macro Look for Smart Investors 🏠🇺🇸
The U.S. housing market isn’t just about buying and selling homes — it's a complex system that significantly impacts broader financial markets, including crypto. Here’s what you need to know:
1. Dual Market Structure: The U.S. market is split into two main segments:
Primary Market: Where homes are bought and sold (new or existing). Secondary Market: Where mortgage loans are traded, often as mortgage-backed securities (MBS) — a key link between real estate and Wall Street.
2. Supply-Demand Dynamics:
Inventory shortages and high construction costs have constrained supply. Rising mortgage rates (hovering around multi-year highs) have cooled demand, especially from first-time buyers.
3. Key Players:
Government-Sponsored Enterprises (GSEs) like Fannie Mae and Freddie Mac securitize home loans. Institutional investors are increasing their market share, buying single-family homes as assets — a shift toward "housing as investment."
4. Ripple Effect on Crypto:
Inflation and rate hikes in response to housing pressures impact risk assets, including BTC and ETH. As real estate becomes less accessible, digital assets like tokenized real estate or crypto may become alternative investment vehicles.
5. Trends to Watch:
Tokenization of real estate via blockchain Use of crypto for property transactions and REITs on-chain Increased correlation between housing market health and stablecoin velocity in uncertain economies
Takeaway: Housing is more than shelter — it's a financial pillar. As traditional markets evolve, so does crypto's relevance. Stay informed, stay diversified. 🧠💼
📊 Understanding the U.S. Housing Market Structure — A Macro Look for Smart Investors 🏠🇺🇸
The U.S. housing market isn’t just about buying and selling homes — it's a complex system that significantly impacts broader financial markets, including crypto. Here’s what you need to know:
1. Dual Market Structure: The U.S. market is split into two main segments:
Primary Market: Where homes are bought and sold (new or existing). Secondary Market: Where mortgage loans are traded, often as mortgage-backed securities (MBS) — a key link between real estate and Wall Street.
2. Supply-Demand Dynamics:
Inventory shortages and high construction costs have constrained supply. Rising mortgage rates (hovering around multi-year highs) have cooled demand, especially from first-time buyers.
3. Key Players:
Government-Sponsored Enterprises (GSEs) like Fannie Mae and Freddie Mac securitize home loans. Institutional investors are increasing their market share, buying single-family homes as assets — a shift toward "housing as investment."
4. Ripple Effect on Crypto:
Inflation and rate hikes in response to housing pressures impact risk assets, including BTC and ETH. As real estate becomes less accessible, digital assets like tokenized real estate or crypto may become alternative investment vehicles.
5. Trends to Watch:
Tokenization of real estate via blockchain Use of crypto for property transactions and REITs on-chain Increased correlation between housing market health and stablecoin velocity in uncertain economies
Takeaway: Housing is more than shelter — it's a financial pillar. As traditional markets evolve, so does crypto's relevance. Stay informed, stay diversified. 🧠💼
📢 FOMC Meeting Alert – Why It Matters for Crypto & Markets 📈
The Federal Open Market Committee (FOMC) meets regularly to decide U.S. interest rates, and its decisions ripple across global markets – including crypto.
🔍 What to Watch:
Interest Rate Decision: A rate hike can strengthen the dollar 💵 and pressure Bitcoin & altcoins 📉. A pause or cut might fuel a rally 🚀. Fed's Tone (Hawkish vs. Dovish): Markets react not just to the decision, but also to the Fed's language about inflation and economic outlook. Economic Projections: Insights into GDP, inflation, and employment impact investor sentiment across all asset classes.
💡 Why Crypto Traders Should Care:
Liquidity & risk appetite shift based on rates. Bitcoin often reacts like a risk asset — sensitive to Fed policy. DeFi & stablecoins pegged to USD may also be impacted.