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Here’s Why Pi Network Price Collapsed from $100 to $2 & Why it May Never Hit $100 Again

Pi Network price has pulled back from its all-time high. It initially peaked at almost $3 after the airdrop in February and has crashed by 45% to below $2. Pi coin remains significantly below the IoU price of $100, which it reached in November last year. This article explores why the value of Pi has retreated and why it may never jump to $100 again.

Why Pi Network Price Crashed from $100 to $2

The Pi Network price has dropped to slightly below $2 this week. This price is much lower than what the $100 that its IoU reached in November last year.

This decline is because the Pi Network IoU and the current Pi Network are different assets. Several exchanges like BitMart and HTX listed the Pi Network IoU in 2022 as impatient among pioneers grew. These pioneers were largely concerned that the mainnet launch was taking longer than expected.

Therefore, these Pi Network IoUs were used as proxies for the Pi Network project until the mainnet launch happened this year. HTX, whose token peaked at $100 in November, delisted it ahead of the mainnet launch and has now listed the main token.

There are four main reasons why the Pi Network price has dropped from the all-time high of $3 to the current $1.7200. First, the decline mirrors the performance of most recently launched tokens. Most tokens like Grass, Hamster Kombat, and Wormhole have dropped from their highest levels after the aidrop.

Further, Pi Network price has dropped as the much-anticipated Binance listing remains on ice. Most participants in the Pi coin listing poll voted to allow it to go on, but the listing date has not been confirmed yet. Other mainnet exchanges like Coinbase and Upbit have also not listed it.

🇳🇬 Nigeria sues Binance for $81.5B, alleging economic damage and unpaid taxes, citing illegal operations and $21.6B in 2023 trades.

HTX delists PI Coin and halts trading ahead of open mainnet

One of the leading cryptocurrency exchanges in the world, HTX, announced that it will support the long-awaited launch of the Pi Network (PI) mainnet by taking down its IOU-based PI token and exchanging user holdings for USDT at a rate of 1:61.28.

The exchange will stop all PI IOU coin trading on February 13 at 08:00 UTC. Open orders will be automatically canceled. User spot accounts will be automatically credited with the converted assets.

Retail investors are becoming more interested in Pi Network’s possible move from a closed ecosystem to a fully operational blockchain, which has led to the move.

Also, HTX confirmed that the new PI token will be listed after the mainnet launch. In a statement, the exchange said, “Once the mainnet launches successfully, HTX will quickly list the new token PI and open spot trading services.” Users were asked to stay tuned for more information.

HTX’s delisting has also filled a gap in Pi IOU trading, as the coin recently plunged 21% in just a day.

Pi Network is a blockchain project that is focused on mobile devices. It has millions of users thanks to a mining system that doesn’t require any initial investment.

Pi Network News: Will Pi Coin Hit $500 After Binance And Bybit Listing

Pi Coin has taken the crypto market by storm, surging over 100% following its listing Announcement on OKX. The excitement surrounding the open network launch on February 20 has fueled speculation about its future price trajectory. With traders eyeing potential listings on Binance, Bybit, and HTX, could Pi Coin reach the coveted $500 mark? Let’s analyze the latest developments, market sentiment, and price projections.

Pi Coin Price Surge and Market Speculation
On Wednesday, Pi Coin’s price skyrocketed from $50 to over $100, driven by its OKX listing Announcement. This massive rally has sparked discussions within the crypto community about its legitimacy and potential future listings on major exchanges such as Binance, Bybit, and HTX. While Bitget confirmed plans to list Pi on the same day as The Open Network’s launch, Bybit’s CEO Ben Zhou, in a social media post, has dismissed any possibility of listing Pi Coin. Meanwhile, HTX has already delisted the PI/USDT pair, further intensifying the debate.

Will Binance, Bybit, and HTX List Pi Coin?
The possibility of Pi Coin’s listing on larger exchanges remains uncertain. Bybit has publicly stated that it will not list Pi Coin, while HTX removed its listing, leaving traders in shock. Bitget deleted several Pi Coin-related posts, leading to speculation about its position on the project. The controversy surrounding Pi Coin stems from concerns about its legitimacy, with accusations of pyramid schemes surfacing in China. A listing on Binance or Bybit could potentially drive another massive price rally, but no official confirmations have been made.

Is the Pi Network Open Mainnet Launching on February 20?
Despite ongoing speculation, Pi Network has yet to confirm the February 20 mainnet launch. The project remains in an enclosed mainnet phase, restricting external connectivity and preventing official exchange listings. Similar delays occurred in 2023, leading to skepticism about the timely rollout of the open mainnet.

What do you think about Memes have you guys received your coin…??

X Empire Price Prediction: What to Expect from $XEMP?

Telegram-based tap-to-earn games like Catizen, Hamster Kombat, and Rocky Rabbit have already released their tokens, with prices fluctuating post-airdrop due to gameplay and community activity. X Empire, inspired by Elon Musk, has a large player base that could sustain demand for its token, potentially outperforming other games due to its strong theme and engagement.

The upcoming launch of X tokens, with a total supply of 690 billion and a community allocation increased to 75%, has sparked significant interest in the crypto gaming world. As the project moves closer to its Token Generation Event (TGE) and subsequent listing, let’s analyze the potential price movements based on available data.

1. Total Supply and Allocation Details

With the total supply set at 690 billion X tokens, the team has allocated 75% to the community, which enhances the token's distribution and involvement. This phase is designed to last just two weeks, after which the TGE will occur. Post-TGE, the game will undergo a full transformation, introducing more utility and potentially higher demand for X tokens.

2. Low Estimate: $0.002 per X Token

This estimate assumes modest demand from the player base and moderate levels of engagement post-launch. If participation doesn’t reach high levels, we might see the X token price hovering around $0.002. While this is a conservative prediction, it reflects the possibility of average market conditions and limited demand growth during the early stages.

3. Mid Estimate: $0.005-$0.01 per X Token

With strong interest in pre-market NFT trading and robust participation in the airdrop, the token could perform much better, placing the price in the $0.005-$0.01 range. The scarcity effect, combined with demand for NFT vouchers, could drive post-airdrop trading volumes significantly higher, leading to a healthy price increase for X tokens.

Binance founder, Zhao released after 4 months

Changpeng Zhao, the founder of Binance and a key figure in the global cryptocurrency industry, has been released.

He was released from a California correctional facility after serving a four-month sentence for failing to enforce anti-money laundering protocols on his exchange.

The 47-year-old, widely known as “CZ,” returned to the US from Dubai earlier this year to face charges and serve time linked to regulatory breaches at Binance, the world’s largest crypto exchange by trading volume.

His release came two days ahead of schedule due to standard practices when release dates fall on weekends.

Zhao, known for turning Binance into the world’s largest cryptocurrency exchange since its launch in Shanghai in 2017, was held at a low-security facility in Long Beach, California.
He reported to the facility in June after agreeing to a $50 million personal fine as part of a broader settlement with US authorities. Binance, in a separate deal, paid $4.3 billion in penalties to resolve allegations tied to breaches of anti-money laundering and sanctions regulations.

Despite the turmoil surrounding his legal woes, Zhao exits custody with a personal fortune estimated at $60 billion(Forbes), ranking him among the world’s wealthiest individuals. His future plans remain uncertain, though his lawyer indicated that he would not be giving interviews upon release.

However, Zhao has previously hinted at a greater focus on family and philanthropy. His children live between Dubai and Paris with their mother, Yi He, a co-founder of Binance and a senior executive within the company.

What to know

Zhao had already announced plans for a post-Binance project called Giggle Academy, an online educational platform designed to offer free learning resources to underprivileged children. While the initiative remains in its early stages, with minimal details currently available, it signals his intent to channel his wealth into global philanthropic efforts.

#binanace

Major Coin Price Prediction with Airdrop and Listing date
MAJOR is a cryptocurrency linked to the popular Telegram-based game, "Major of Telegram." In this engaging game, participants can earn Telegram Stars, exclusive rewards within the app. As the Telegram mini-app ecosystem grows, MAJOR stands out with its unique gaming and earning potential.

The game boasts a rapidly expanding user base of over 14 million, positioning it as a significant player in the Telegram gaming world. Notably, top players, or "Majors," will soon have the opportunity to earn rewards in TON cryptocurrency, adding an exciting financial incentive to the gameplay.

MAJOR Airdrop and Listing
A major highlight for MAJOR is its upcoming airdrop, scheduled to take place before October 30th. This airdrop is set to reward active players, which is likely to generate increased interest in the game. Additionally, MAJOR is expected to be listed on major cryptocurrency exchanges around the same period, potentially impacting its price significantly.

Although the exact listing date is still unconfirmed, industry insiders suggest it will align with other popular Telegram mini-apps making their exchange debuts. This listing is expected to be a crucial moment for MAJOR, possibly boosting its value and drawing in more investors.

Major Pre Market Data:
1. Current Pre Market Price: The last recorded price is $0.0101 USDT, with a 1% increase.

2. Total Supply: The total preset supply is 10,000,000,000 MAJOR tokens, which is subject to adjustment based on actual delivery.

3. Volume: The 24-hour trading volume is 1.40K USDT, and the total trading volume is 81.95K USDT.

Major Coin Price Prediction:
Assuming continued growth in user engagement, further partnerships, and sustained demand within the Telegram-based TON ecosystem:
Short-term (1-3 months): The price could see moderate growth, potentially reaching $0.0250 to $0.0500, depending on user adoption and ecosystem development.

Binance Launches Mobile Money Feature for Crypto Transactions in Africa

Crypto exchange Binance has launched its One Click Buy and Sell (OCBS) service in Africa, enabling users in Ghana, Tanzania, Uganda, and Zambia to buy and sell cryptocurrencies via mobile money accounts. This initiative aims to enhance financial inclusion, particularly for the unbanked and underbanked populations.

Binance Expands Services in Africa, Boosting Crypto Accessibility

Cryptocurrency exchange Binance announced the launch of its One Click Buy and Sell (OCBS) feature in Africa last week, expanding its services to Ghana, Tanzania, Uganda, and Zambia.

With the launch of our OCBS feature, users can now easily purchase crypto assets and sell assets directly from their mobile money accounts.

“The integration of mobile money into our global fiat on-ramp/off-ramp offering, developed in partnership with Transfi, marks a significant milestone in our efforts to simplify and broaden access to digital assets,” Binance detailed.

The crypto platform emphasized its commitment to security, implementing strict Know Your Customer (KYC) protocols and other protective measures to safeguard users’ assets and comply with regulatory standards.
This initiative is particularly aimed at increasing financial inclusion for the unbanked and underbanked populations in Africa, aligning with Binance’s mission to increase financial freedom globally. The global crypto exchange explained:

This expansion is a crucial step in our ongoing mission to democratize access to cryptocurrency and financial services. We believe that by integrating mobile money into our platform, we can support financial inclusion and allow more people to participate in the digital economy.

What do you think about Binance’s expansion of its crypto services in Africa? Let us know in the comments section below. 👇
#binance4ever

Crypto: Internal Conflicts Threaten the Hamster Kombat Airdrop

Initiated as an innovation in the blockchain gaming space, Hamster Kombat quickly captured the attention and engagement of the crypto community. However, recent tensions around profit sharing and project ownership now threaten to jeopardize its future and delay the eagerly anticipated launch of its HMSTR token.

Internal Conflicts and Accusations
Hamster Kombat, the crypto game with millions of players, is facing increasing tensions between its investors and its development team. Indeed, the company AD.RU, which is a key investor in the project, has publicly accused the leaders of Hamster Kombat of not honoring their financial commitments. Anton Gorshkov, CEO of AD.RU, claims that his company invested $600,000 in Hamster Kombat and enabled the raising of additional funding of more than $1 million.

n return, AD.RU expected to receive 25% of the project shares. However, Eduard Gurinovich, project manager at Hamster Kombat, denied any involvement of AD.RU in the project. This divergence has soured relations between the two parties, with AD.RU now considering legal action to resolve the dispute.

The situation was exacerbated by the departure of Nikita Anuriev, former marketing director of Hamster Kombat, who left the project earlier this month, citing disagreements over profit sharing. Anuriev accuses the Hamster Kombat team of failing to meet their promises, notably that of granting him 25% of the profits in exchange for his crucial role in securing the initial investments.

Uncertainties Around the Crypto Airdrop
These internal conflicts have had direct repercussions on the distribution of the HMSTR token, initially scheduled for this month. Hamster Kombat, already facing delays due to the technical limitations of the TON network, is now facing a possible suspension of the airdrop due to internal tensions.

#GameLaunch

Nigeria’s SEC set to issue crypto exchange licenses to ‘support youths’

The Nigerian Securities and Exchange Commission (SEC) under Emomotimi Agama has revealed its plans to issue licenses to crypto exchanges in the country to complement the growing adoption of cryptocurrencies in the country.

In June the Nigerian SEC launched a new program aimed at speeding up the registration process of Virtual Assets Providers (VASPS).
SEC also announced amendments to its rules on Digital Assets Issuance, offering platforms, Exchanges, and Custody.

Speaking during an interview with Bloomberg, Emomotimi Agama, SEC’s director-general, said the commission intends to issue first licences for digital service and tokenised assets this month.

“Being a crypto enthusiast and fintech enthusiast, I can tell you without doubt that this is going to happen sooner than you think,” Agama said.

“We must support the youths of this country to be able to achieve the benefit that is accruable in fintech. The market size is huge and it is growing.”
Agama said the SEC wants to provide a platform where people can formerly “do these things, and we are able to get all of the information that we need”.

What we will not encourage is the use of cryptocurrency to manipulate our currency,” Agama said.

In December 2023, the Central Bank of Nigeria (CBN) lifted the ban on cryptocurrency transactions.

Months after, the federal government clamped down on Binance, a crypto exchange over “regulatory breaches”.

The SEC, in May, announced plans to delist naira from all peer-to-peer (P2P) platforms — including Binance.

The commission said the decision was taken to avoid the level of “manipulation” happening in the cryptocurrency space.

He said the volume of crypto transactions in Nigeria would hit $52.5 million in 2028, indicating a 12.66 percent increase between 2024 and 2028.

Nigeria was named the second biggest economy in terms of crypto adoption last year and in August 2022 was named the most crypto-crazy country by volume of Google searches.

#Write&Earn

Man who told everyone to buy $1 of bitcoin in 2013 shows off his new life

Although Bitcoin has been around since 2009, it's only started trending in the past 10 years or so.
Which has caused a lot of influencers and content creators to say that if you invested in Bitcoin back then, you'd be a millionaire today.
Davinci Jeremie is one of them.

Davinci is a Chilean YouTuber, two-time CEO and one of Bitcoin's early adopters. As a matter of fact, he's pretty wealthy because of it.
Back in 2013, Davinci went viral for a YouTube video he made urging people to invest just $1 in Bitcoin.
'It's just a dollar, get some Bitcoins,' he said in the video. '[If it] goes to nothing, who cares, you only spent a dollar.'
At that time, one Bitcoin was worth $116.75. Today, it's skyrocketed over $70,000, which shows incredible growth for early investors.
Despite some fluctuations in value, such as it's biggest dip last year, the 53-year-old's advice turned out to be spot on.
'Look for the price of lotto ticket you can hold bitcoin (BTC) for 10 years and become a millionaire it's time you stop living in fear,' he wrote in his video caption. 'If it goes to zero you lose $1 who cares!!!'
He added: 'But if I'm right I want all of you to thank me It will not make me happy if you come back to me in 10 years saying... Dude, I wish I listened to you back 2011 or 2013.'

Davinci’s investment has paid off handsomely.
He now enjoys a luxurious lifestyle, including private yachts, planes, and flashy cars, all thanks to his early Bitcoin investment.

And he's not modest about it either as he's regularly seen wearing a blue, Bitcoin-themed t-shirt that says 'I told you so' on his posts.
But his power of persuasion didn't work on everyone and some are still regretting it to this day.
'I used to watch this guy on YouTube and nearly bought 2,600 bitcoin for £10,' one viewer wrote. 'Had my card details in but the server I was buying from kept crashing so I ditched the transaction.'
One YouTube user replied: 'Why do I feel like YouTube is recommending this video to troll us..'
#Write&Earn

Binance to pay $1.7 million fine in Brazil for trading violations 
Binance’s global regulatory woes continue with the latest episode happening in Brazil where the largest crypto exchange in the industry is expected to pay a fine of $1.7 million for derivatives trading violations. 
Binance will be paying $1.7 million to the Brazilian Securities and Exchange Commission (CVM) as a settlement following an investigation into its unauthorized derivatives trading in the country. 
The development was announced by CVM via an official statement on its website spelling out the details of the case and the amount Binance is expected to pay. 

“ The Board of the Securities and Exchange Commission (CVM), in a meeting on 8/13/2024, analyzed proposals for the Term of Commitment of the following administrative sanctioning processes (PAS):

PAS 19957.008369/2022–11: B Fintech Technology Services Ltda.
PAS 19957.008992/2023–47 : Gafisa SA, Guilherme Augusto Soares Benevides and Ian Masini Monteiro de Andrade.

B Fintech Serviços de Tecnologia Ltda presented a new proposal for a Term of Commitment to terminate PAS CVM 19957.008369/2022–11.
In a meeting held on 8/29/2023, the CVM Board decided to reject the agreement with B Fintech Serviços de Tecnologia Ltda, as it understood that the execution of the Commitment Term would not be timely and convenient.

On 2/15/2024, a new proposal for a Term of Commitment was presented, and, after negotiations with the Term of Commitment Committee (CTC), the proponent committed to pay the CVM R$9,600,000.00. The PFE-CVM concluded that there is no legal impediment to the execution of the agreement.

Therefore, the CTC considered it appropriate and convenient to accept the agreement.
The Board followed the CTC’s opinion and accepted the signing of a Commitment Term with B Fintech Serviços de Tecnologia Ltda.” CVM Stated 
For context, B Fintech Technology Services Ltd. is a shell company operated by Binance in Brazil. 
In May 2023, a Brazilian court recognized that the company was part of Binance Group. 

Shiba Inu: How Long Should I Wait For It To Reach $0.01?
Shiba Inu boasts 1.4 million holders, and the number is rapidly increasing worldwide as newer investors join the bandwagon. The majority of SHIB investors are Average Joes who dream of becoming millionaires when the token reaches $0.01.

The waiting time for that to happen is long and could take years, if not decades, to hit the 1-cent price point. Investors are mentally prepared for the wait as nothing turns profitable without the long-term game.
Despite its constant price drop, the only thing that consoles SHIB investors is its affordability. Traders get to accumulate millions of SHIB tokens for a few dollars, which helps them stay sane during a market downturn. SHIB is a low-hanging fruit that’s up for grabs, and it does not burn a hole in the investor’s pockets.
Now, coming back to the million-dollar question, how long will it take for Shiba Inu to reach $0.01? In this article, we will explain the scenarios for how long the token could take to breach the one-cent milestone.

The most important thing stopping Shiba Inu from reaching the $0.01 mark is the unending circulating supply. SHIB currently has a circulating supply of 589 trillion tokens and is available for a lifetime of three generations or more. The token needs to burn a minimum of 90% of its circulating supply to even consider breaching $0.01.
Shiba Inu needs to remain scarce to sustainably increase its price in the indices. When tokens are scarce, supply and demand automatically rise, leading to their price hitting higher circuits.
The answer to how long you should wait for Shiba Inu to reach $0.01 is the length it takes to remove 90% of its circulating supply. If more than 500 trillion tokens are sent to the dead wallet, investors can dream of $0.01.
#shiba⚡

Binance Security Team Recovers $73 Million in Stolen Crypto Funds This Year
Crypto exchange Binance’s security team has recovered or frozen over $73 million in stolen user funds so far this year, surpassing the $55 million recovered in 2023. This achievement highlights the company’s commitment to improving cryptocurrency security.
Binance Recovers $73 Million in Stolen User Funds
Crypto exchange Binance announced on Wednesday that its security team has successfully recovered or frozen over $73 million in user funds stolen from external parties between Jan. 1 and July 31 this year. This milestone surpasses the $55 million secured throughout the entirety of 2023. Binance detailed:
Through proactive efforts to support Web3 users and collaborate with industry peers, we have been successful in helping users recover misplaced and lost digital assets, as well as freezing and clawing back ill-gotten funds that have made their way to the Binance platform.

Binance’s Chief Security Officer, Jimmy Su, highlighted the company’s commitment to user protection and improving the security of the cryptocurrency ecosystem, leveraging blockchain technology to track and recover stolen funds.
The crypto exchange noted:

The vast majority of these recoveries and freezes — approximately 80% — are related to hacks, exploits, and thefts happening externally. The remaining 20% are associated with scams taking place outside the Binance platform.

Su attributed this success to Binance’s user-focused culture and proactive security measures. He noted that blockchain technology plays a crucial role in tracing and recovering stolen funds, which aids in creating a more secure investment environment. This proactive approach has led to significant progress in the fight against financial crime in the cryptocurrency industry.#Write&Earn

Dogecoin (DOGE):New DOGE Rival Predicted To Surpass Dogecoin (DOGE) Profits In 2024

Dogecoin (DOGE) has long been celebrated as a pioneer in meme-driven digital assets. However, a new competitor is gaining traction and is projected to surpass Dogecoin (DOGE)’s profits in 2024. Enter Mpeppe (MPEPE), a rising star in the cryptocurrency world. Here’s a closer look at why Mpeppe (MPEPE) is poised to outshine Dogecoin (DOGE) and what makes it a compelling investment opportunity.
Dogecoin (DOGE)’s Impact: A Brief Overview
Dogecoin (DOGE) has firmly established itself as a cornerstone of the meme coin sector since its inception. Initially launched as a humorous alternative to Bitcoin, DOGE has amassed a substantial following and has been supported by high-profile endorsements. Despite its playful origins, Dogecoin (DOGE) has proven its potential for growth and profitability, contributing to its status as a leading cryptocurrency.
Expanding Beyond Digital Assets
Mpeppe (MPEPE) is quickly positioning itself as a serious rival to Dogecoin (DOGE). Built on the legacy of successful meme cryptocurrencies like Pepecoin, Mpeppe (MPEPE) aims to take the meme coin concept to new heights. Here’s what sets Mpeppe (MPEPE) apart:
Another significant advantage of Mpeppe (MPEPE) is its focus on integrating with the broader digital ecosystem. The cryptocurrency is set to create innovative use cases within decentralized technologies and virtual worlds. This includes leveraging its DeFi capabilities to provide new financial services and opportunities, further enhancing its appeal and functionality. By bridging the gap between meme culture and practical blockchain applications, Mpeppe (MPEPE) offers a comprehensive approach to the future of digital assets.
The 2024 Profit Potential: Why Mpeppe (MPEPE) May Surpass DOGE
The prediction that Mpeppe (MPEPE) will surpass Dogecoin (DOGE) in profits by 2024 is grounded in several fact. Mpeppe (MPEPE)’s DeFi integration adds substantial utility, making it a more versatile asset compared to Dogecoin (DOGE)’s traditional meme-based

Crypto Gaming Showdown: Why Lovely Legends is Set to Outshine Hamster Kombat

PRESS RELEASE. The cryptocurrency gaming sector is witnessing an intense rivalry between two notable titles: Hamster Kombat and Lovely Legends. As the competitive landscape evolves, industry experts are increasingly recognising Lovely Legends as the more promising and innovative contender for both gaming enthusiasts and cryptocurrency investors.
Unprecedented Airdrop Initiative
In an unparalleled move, Lovely Legends has announced plans for the largest airdrop in the history of cryptocurrency gaming. This ambitious initiative not only underscores Lovely Legends’ commitment to its community but also positions it as a transformative player within the play-to-earn ecosystem.
Excellence in Design and User Experience
Lovely Legends, developed by an experienced team of professionals, sets a new standard in gaming aesthetics and user interface design. The game offers a visually stunning and highly intuitive experience, ensuring players are thoroughly engaged and entertained.
Demonstrated Success and Strategic Growth
Lovely Finance, the powerhouse behind Lovely Legends, has already achieved significant milestones, including listings on major exchanges with further listings imminent. This established track record of success provides a strong foundation for Lovely Legends, assuring players and investors of its long-term viability and growth potential.
Commitment to Transparency and Feasibility
While Hamster Kombat reports a user base of 300 million, recent data indicates a significant discrepancy, showing only 155 million users. This raises questions about its ability to fulfil its airdrop promises. In contrast, Lovely Legends’ more manageable and transparent user base ensures the feasibility of its airdrop commitments, fostering trust and confidence within its community.
Future Prospects
As Lovely Legends prepares to execute its airdrop ahead of Hamster Kombat, the excitement within its community continues to build. Stakeholders and enthusiasts are invited to join..
#HamsterKombat

Binance CEO Breaks Silence on How Long Bear Market Will Continue

Binance CEO Richard Teng reveals next big threat to cryptocurrency market and when this will all end
The last few days cannot be described as anything other than a bloodbath on the crypto market. The price of Bitcoin fell below the $50,000 mark after a 21% drop since the beginning of August. Today is only the 5th of August. As a result, liquidations on the crypto market totaled $1 billion in the last 24 hours.
In the midst of extreme fear, uncertainty and doubt, the attention of crypto market participants turned to the most prominent figures of the space. Richard Teng, the CEO of Binance, the world's largest crypto exchange, is one of those whose words are worth listening to.
Among the noteworthy things that the Binance chief said is that the latest crash in both the crypto and stock market is down to macroeconomic factors, but he does not think they are a sign of a long-term negative trend. However, it is not over as the Federal Reserve cutting rates and geopolitical issues could lead to more market swings, warns Teng.
Despite an extremely negative conjecture, the Binance CEO told crypto enthusiasts to stay up to date and keep building despite the current challenges.
The price of BTC, meanwhile, has rebounded to around the $51,500 level after some relief. It is still unclear what the future holds for the market, and what will happen next is an open question, but if you want to try and take a side, Teng's seems to be the most optimistic.

#Write2Earn!

Terra Luna Classic Votes On Key Proposal, LUNC Rebound Happening?

proposal to create an independent community website. The website would be modeled along Bitcoin.org, integrating design processes and concept workshops. Recently, the network has garnered positive news as the users intend to rebound after previous lows.

Terra Luna Classic Votes on Website
A new vote proposal is underway within the community to create a website that will be community, educational, decentralized, and able to compete with other websites from blockchains.

“This proposal aims to create an independent and dedicated Terra Classic website inspired by the Bitcoin.org model, using professional and proven design processes that start with concept workshops, Key visual design, building an MVP (minimum viable product) type of website, and ending with the design of the final website.”

At press time, 14.22% of the community voted in favor of the proposal while 28% voted in negative. 46% of the community are yet to vote. However, there are still five days remaining on the countdown as users access the benefits of this proposal in the wider ecosystem.

According to the release, the proposals were borne out of a lack of a comprehensive website since the Terra 2022 implosion leading to a loss of metrics.
The community is without a website that offers comprehensive information on Terra Luna Classic and encourages developers to build on the network with links from third parties like CoinGecko and CoinMarketCap. The lack of these has led to the loss of trading to Terra Luna Classic

Platform See Positives
In recent weeks, Terra Luna Classic has recorded positive news ranging from price upticks and a recent burn with huge support. Crypto exchange Binance is supporting the community by burning 62 billion LUNC tokens creating a frenzy as users eye a rebirth of USTC. LUNC staking ratio has also neared its all-time high of above 15%. At press time, USTC has soared 21.7% in the last 24 hours to trade at $0.02002 . #Write2Earn!

Binance Chief: Court Orders Arrest Of Kuje Prison Doctor

Tigran Gambaryan was whisked into the Court building in a wheelchair earlier in the day.

Justice Emeka Nwite of the Federal High Court, Abuja, has issued a bench warrant for the arrest of Dr Abraham Ehizojie, the Medical Doctor at the health facility of the Kuje Correctional Centre, over alleged refusal to produce the medical report of the detained executive of Binance Holdings Ltd, Tigran Gambaryan.
Justice Nwite gave the order following an application by Gambaryan’s lawyer, Mark Mordi, on Tuesday.
Gambaryan was whisked into the court building in a wheelchair earlier in the day.
He, alongside the cryptocurrency firm, is facing a money laundering charge preferred against them by the Economic and Financial Crimes Commission (EFCC).
Justice Nwite had, on July 5, ordered the management of the Nigerian Correctional Service (NCoS) to release the medical certificate of Gambaryan on or before July 16.
The judge gave the order following an application by Mordi.
Mordi had prayed the court to summon Ehizojie to explain why he had allegedly refused to make available his client’s medical report despite an earlier court order.
Gambaryan had, on May 23, collapsed in the open court over alleged ill health.
At the resumed hearing on Tuesday, Mordi said in open court that the judge’s order had not been complied with.
The judge then asked a prison official who brought Gambaryan to court about the development.
The prison official said he got the court order and delivered the order to the doctor on July 9, 2024.
The EFCC counsel, Ekene Iheanacho, told the judge that he thought that the medical officer would be in court today.

#Write2Earn!