Market
BNB Chain Reveals 35 Projects in MVB Season 8
BNB Chain, in collaboration with Binance Labs and CMC Labs, hosts the Most Valuable Builder (MVB) program, which is designed to identify and select projects for potential investment by Binance Labs.
Season 8 attracted 500 applicants, out of which only 35 projects made it to the finals.
Binance Labs Will Choose From These 35 Potential Candidates to Invest In
BNB Chain has categorized these 35 promising projects into three sectors: Application layer, DeFi, and Infrastructure. A standout feature of MVB Season 8 is the widespread application of artificial intelligence (AI) across numerous projects. Additionally, there is a noticeable presence of projects related to meme coins, real world assets (RWA), and Telegram apps.
Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?
The selected projects receive comprehensive support, including mentorship, funding opportunities, technical assistance, and exposure to a broad network of industry experts and potential partners. Additionally, the teams behind these projects will participate in a four-week training program. Upon completion, Binance Labs will assess their presentations and select projects to invest in.
“This season’s expanded curriculum, coupled with the potential for Binance Labs investment, ensures that founders are equipped with the tools and insights they need to succeed. We’re thrilled to see how these promising projects will evolve and continue driving the growth of the Web3 ecosystem on BNB Chain,” — Gala Wen, Director of Ecosystem Development at BNB Chain, said.
In MVB Season 7, 700 applicants participated, but only 13 were accepted, and just 5 received investment from Binance Labs. In contrast, Season 8 saw fewer applicants with 500 submissions.
Recently, Alex Odagiu, Investment Director at Binance Labs, emphasized the potential of seriously developed projects in an interview with BeInCrypto, noting the crowded market filled with numerous tokens.
“Projects that prioritize strong technological innovation, demonstrate meaningful product-market fit, and have sustainable revenue models will continue to attract interest despite the crowded market,” Odagiu stated.
Read more: How To Fund Innovation: A Guide to Web3 Grants
Additionally, data from Cryptorank reveals that Binance Labs has decided to invest in 47 rounds so far this year. Key sectors in Binance Labs’ portfolio include AI (22.22%), restaking (16.7%), and Layer-1 (11.1%).
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP To Hit $40 In 3 Months But On This Condition – Analyst
XRP remains one of the crypto market’s current trailblazers rising by 23.21% in the past 24 hours. Over the last two weeks, the prominent altcoin has recorded a 154% price gain establishing itself as the sixth-largest cryptocurrency with a market cap of $89.82 billion. With this current momentum and the crypto bull season still in its early stages, analysts remain highly bullish on XRP’s potential to reach lofty price levels.
Can XRP Repeat 2017 Historical Price Movement?
In an X post on November 22, an analyst with the username CryptoBull stated that XRP could trade at $40 over the next three months if the token mirrors its first prominent price surge from 2017.
Data from CoinMarketCap shows that XRP rose $0.006 to a market peak of $0.33 in early 2017, representing a 5,400% gain. Considering its recent price rally, the altcoin may be gathering momentum to reproduce such price movement in a highly anticipated crypto bull run, especially considering recent happenings.
Most notably, popular anti-crypto Securities and Exchange Commission Chairman Gary Gensler recently announced his intentions to resign on January 20, a move largely behind the current bullish sentiment among XRP investors considering the Commission’s long-lasting regulatory battle with Ripple. In fact, Gensler’s decision to leave the SEC has been described as the “best thing” for Ripple, which holds significant weight for XRP’s future.
Gensler’s resignation coincides with the inauguration of pro-crypto incoming US President-Elect Donald Trump who has promised to introduce a more friendly approach to digital asset regulation in the US. Aside from XRP finally being free from the regulatory scrutiny of the SEC, the potential introduction of a spot ETF under Trump’s pro-crypto regime also contributes to bullish sentiments on the altcoin’s profitability.
According to CryptoBull, if XRP follows its price explosion from early 2017, the token is expected to hit a price target of $1.96 in November, $6.30 in December, and $40 in January.
Price Resistance Levels In XRP’s Dream Surge
While XRP presents much potential for a high price target, CryptoBull predicts the token to face significant resistance at the $1.96 price region. If buying pressure proves sufficient to move past this level, the analyst expects XRP to confront another resistance at $3.84 which represents the token’s current all-time high price.
Considering the current robust bullish sentiments in the market, the altcoin is likely to move past these highlighted resistance levels. However, the token’s Relative Strength Index remains far in the overbought zone (91.73) indicating significant potential for a price pullback.
At the time of writing, XRP continues to trade at $1.78 reflecting a 79.57% gain in the past week. Meanwhile, the token’s daily trading volume is up by 103.57% and valued at $20.29 billion.
Featured image from Trackinsight, chart from Tradingview
Market
Kraken Eyes Token Expansion as Trump Promises Crypto Support
Kraken, one of the leading cryptocurrency exchanges, has announced plans to list 19 new tokens, including a range of popular meme coins, and to integrate three additional blockchains.
This development has sparked optimism across the crypto industry, with many anticipating a more favorable environment for token listings under the incoming Trump administration.
Kraken Plans to List 19 Tokens and Integrate 3 Blockchains
According to its recently published tradeable asset roadmap, Kraken will add the Binance Smart Chain, dYdX, and Arweave blockchains to its platform. Each integration will include support for the native tokens of these networks.
“Kraken lists BNB,” Binance founder Changpeng Zhao stated.
In addition to these three, Kraken plans to list 16 other tokens, primarily meme coins. Some of the notable additions include FWOG, TRUMP, NEIRO, DOGS, GOAT, PNUT, MOODENG, and COW, alongside eight others. These tokens belong to blockchains already integrated into Kraken’s ecosystem.
However, the exchange clarified that listing plans are not guaranteed. Funding and trading for these tokens will only begin after an official announcement through Kraken Pro’s account on X. The company warned that Depositing tokens prematurely could result in losses.
Kraken’s planned token expansion comes at a time when the exchange is navigating legal challenges. The US Securities and Exchange Commission (SEC) has accused Kraken of operating an unregistered securities exchange and offering staking services in violation of federal laws. The exchange has been actively defending itself against these allegations.
Despite regulatory hurdles, crypto industry stakeholders are optimistic that the incoming administration will ease restrictions on token listings. Many believe President-elect Trump’s pro-crypto stance could pave the way for a more supportive regulatory environment. Expectations include a clear regulatory framework, the potential establishment of a Bitcoin reserve, and a departure from the SEC’s regulation-by-enforcement approach.
Already, major US exchanges are capitalizing on the growing market optimism to expand their token listings. Coinbase recently listed PEPE and FLOKI, leveraging the ongoing meme coin trend.
Similarly, Robinhood expanded its offerings by adding tokens that the SEC previously described as securities — XRP, Cardano, and Solana. These moves reflect a broader effort by exchanges to capture market momentum and cater to diverse investor interests.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Why BTC Miners Are Selling Their Coins
Bitcoin miners have been actively reducing their holdings in recent weeks as the coin’s price continues to hover below the critical $100,000 mark. At press time, the leading coin trades at $98,535, noting a 1% decline from its all-time high of $99,860 recorded during Friday session.
As the BTC market begins to trend sideways, its miners may be prompted to further distribute their holdings for profit or to offset growing mining costs.
Bitcoin Miners Sell Their Holdings
According to CryptoQuant’s data, Bitcoin’s miner reserve has fallen to its lowest level since the beginning of the year. As of this writing, it sits at 1.81 million BTC.
This metric tracks the number of coins held in miners’ wallets. It represents the coin reserves miners have yet to sell. A decline in the BTC miner reserve indicates that miners on the Bitcoin network are distributing their coins either to take profits or to cover mining-related costs.
Moreover, readings from BTC’s miner netflow confirm the daily trend of coin sell-offs by the network’s miners. As of this writing, the metric’s value is negative at -1,172 BTC.
Miner netflow refers to the net amount of Bitcoin that miners are buying or selling. It is calculated by subtracting the amount of Bitcoin miners are selling from the amount they are buying. When it is negative, it indicates that miners are selling more coins than they are buying. This is often a bearish signal and a precursor to a short-term downward trend in the coin’s price.
BTC Price Prediction: The Bulls Remain in Control
While BTC miners have added to the coin’s selling pressure over the past few weeks, the bullish bias toward the king coin remains significant. This is reflected in the positioning of the dots that make up its Parabolic Stop and Reverse (SAR) indicator. As of this writing, these dots rest below BTC’s price.
The Parabolic SAR identifies an asset’s trend direction and potential reversal points. When its dots are positioned under the asset’s price, it suggests a bullish trend. Traders interpret this as a signal to go long and exit short positions.
If this trend persists, BTC’s price will reclaim its all-time high of $99,860 and may rally past the $100,000 psychological barrier. On the other hand, a spike in profit-taking activity will invalidate this bullish outlook. If buying pressure weakens, BTC’s price may drop to $88,986.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
-
Altcoin19 hours ago
BTC at $98K, HBAR Surges 25% and XLM rises 55%
-
Market24 hours ago
Mythical Games Unveils NFT Mobile Football Game
-
Market23 hours ago
The Bitcoin Price Surge Could Touch $115,000 By Christmas
-
Market19 hours ago
ADA Sights More Growth After Breaking $0.8119
-
Altcoin15 hours ago
Ripple CEO Shares Bullish News With XRP Army As Trump Names Treasury Secretary
-
Altcoin12 hours ago
Arthur Hayes Shills Another Solana Meme Coin, Price Rallies
-
Market22 hours ago
How PNUT, GOAT, BONK Fared
-
Market11 hours ago
Trump Taps Pro-Crypto Scott Bessent for Treasury Secretary Role