Market
Binance Executive’s Top Strategies for 2024 Crypto Bull Market

In the crypto market, each bull cycle presents various challenges and opportunities. The 2024 bull cycle is shaping up to be a distinct departure from its predecessors, notably the 2017 and 2021 cycles.
This is because, in previous cycles, liquidity was concentrated in a handful of altcoins, simplifying investment choices for retail traders. However, the crypto market has evolved dramatically, with liquidity now spread across a rising number of altcoins.
Liquidity Fragmentation Due to Meme Coins
The crypto market’s expansion has been particularly marked by the proliferation of altcoins and meme coins, facilitated by platforms like Pump.fun. Since its inception in January 2024, the platform has been instrumental in the creation of over two million meme coins, amassing more than $138 million in fees.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

The surge in such tokens has led to what Alex Odagiu, Investment Director at Binance Labs, refers to as “liquidity fragmentation.” In an interview with BeInCrypto, Odagiu highlighted the dual-edged nature of this trend.
“The surge of meme coins has undoubtedly created noise, but we see it as part of the natural evolution of the Web3 space. While it may cause short-term liquidity fragmentation, over time, the market will likely consolidate around projects with true value propositions,” he explained.
Despite their speculative nature, meme coins have played a pivotal role in attracting new users and fostering community engagement. Furthermore, Odagiu believes that as the market matures, investor focus will shift towards utility-driven projects that offer sustainable value and practical use cases.
Altcoin Investment Strategies
Since September 6, the price of Bitcoin has surged by nearly 25%. It is currently trading above $65,000, signaling a potential return of the bull market.
Yet, the overwhelming number of tokens has diluted the attention and hype that previously benefitted certain projects. Addressing this, Odagiu outlined strategies for long-term investors to navigate the crowded market effectively.
“In a market flooded with new tokens, it’s crucial for investors to focus on fundamentals rather than chasing hype. Long-term investors should take a disciplined approach when differentiating between short-term trends and long-term value. Projects with real-world use cases, strong teams, solid roadmaps, and sustainable business models are more likely to survive multiple market cycles,” Odagiu stressed.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
He also revealed that despite the apparent saturation, substantial potential remains within specific sectors such as decentralized finance (DeFi), infrastructure, real-world asset tokenization, and applications that aim to achieve mass adoption.
“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.
Odagiu advised a balanced approach to building a strong crypto portfolio. He believes that a solid crypto portfolio should be diversified across different asset types and sectors.
“Bitcoin remains a foundational asset due to its stability and market dominance, but altcoins that drive real technological innovation and have strong community support can present substantial growth opportunities. Diversification across sectors—such as DeFi, infrastructure, and gaming—can also help mitigate risk while capturing opportunities in emerging trends,” he elaborated.
Bitcoin Continues to Remain Institution’s Favorite Crypto
Amid Bitcoin’s dominant market position, institutional focus remains largely trained on it, often at the expense of other promising altcoins. Year-to-date, Bitcoin’s price has increased by over 55%, while the total crypto market cap, excluding Bitcoin, has risen by just 23%.
Read more: Who Owns the Most Bitcoin in 2024?

Moreover, according to crypto analyst Murad Mahmudov, only 42 tokens among the top 300 on CoinMarketCap have outperformed Bitcoin so far in 2024. Odagiu explains why Bitcoin remained a dominant crypto in the 2024 bull cycle.
“Bitcoin’s dominant position in the market is deeply rooted in its status as the first cryptocurrency, which institutional investors often view as a simpler, more familiar, and less risky asset compared to Ethereum and altcoins. Bitcoin’s narrative as a store of value, often referred to as ‘digital gold,’ aligns with traditional investment strategies, making it a natural entry point for institutions new to the crypto space,” Odagiu explained.
However, as institutional investors gain familiarity with the crypto ecosystem, Odagiu anticipates increased interest in Ethereum (ETH) and other altcoins.
“With that said, we (Binance Labs) expect interest in Ethereum and other altcoins to grow as institutions continue to gain confidence in the broader Web3 ecosystem and see the utility beyond Bitcoin,” he added.
The current market cycle also highlights the rise of leveraged trading among crypto traders. Data from Coinglass indicates that open interest stands at $35.93 billion, near its four-year high.
Open interest refers to the total number of outstanding derivative contracts, like futures and options, that have not been settled. It’s used as an indicator to gauge market sentiment.
Read more: How To Trade Crypto on Binance Futures: Everything You Need To Know

However, Odagiu cautioned against the lure of high-risk leverage. He stated that leverage can amplify both gains and losses, so it’s important for investors to use it responsibly, especially in volatile markets.
“Ultimately, long-term success in crypto comes from sound investment principles rather than chasing short-term gains with high-risk leverage,” he concluded.
Indeed, the crypto market demands that investors adapt by prioritizing sustainable investment strategies, enabling them to navigate the challenges of the 2024 bull cycle with informed confidence.
Disclaimer
Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP Recovery Stalls—Are Bears Still In Control?

XRP price started a fresh decline from the $2.20 zone. The price is now consolidating and might face hurdles near the $2.120 level.
- XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
- The price is now trading below $2.150 and the 100-hourly Simple Moving Average.
- There is a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might extend losses if it fails to clear the $2.20 resistance zone.
XRP Price Faces Rejection
XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.120 levels.
The bears were able to push the price below the 50% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high. There is also a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair.
The price is now trading below $2.150 and the 100-hourly Simple Moving Average. However, the bulls are now active near the $2.10 support level. They are protecting the 61.8% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high.
On the upside, the price might face resistance near the $2.120 level and the trend line zone. The first major resistance is near the $2.150 level. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.240 resistance. Any more gains might send the price toward the $2.2650 resistance or even $2.2880 in the near term. The next major hurdle for the bulls might be $2.320.
Another Decline?
If XRP fails to clear the $2.150 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.0650 level.
If there is a downside break and a close below the $2.0650 level, the price might continue to decline toward the $2.020 support. The next major support sits near the $2.00 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.10 and $2.050.
Major Resistance Levels – $2.120 and $2.20.
Market
Experts Raise Red Flags Over Finances

Circle’s initial public offering (IPO) filing has raised concerns among industry experts, who are sounding alarms over the company’s financial health, distribution costs, and valuation.
While the move marks a significant step toward mainstream financial integration, experts’ skepticism casts doubt on the company’s long-term prospects.
Analysts Highlight Red Flags With Circle IPO
On April 1, BeInCrypto reported that Circle had filed for an IPO. The company plans to list its Class A common stock on the New York Stock Exchange (NYSE) under “CRCL.”
Circle’s IPO filing reveals revenue of $1.67 billion in 2024, a notable increase from previous years. However, a closer examination of the company’s financials has uncovered some challenges.
Matthew Sigel, Head of Digital Assets Research at VanEck, noted that revenue increased 16% year over year. Yet, at the same time, the company reported a 29% decrease in EBITDA year over year, indicating a decline in operational profitability. Additionally, net income fell by 42%, reflecting a significant drop in overall profitability.

Sigel pointed out four factors contributing to the decline in these financial metrics. He explained that the company’s rapid expansion and new service integrations negatively impacted net income.
Furthermore, the discontinuation of services like Circle Yield reduced other revenue streams. This, in turn, exacerbated the decline in profitability.
“Costs related to restructuring, legal settlements, and acquisition-related expenses also played a role in the decline in EBITDA and net income, despite overall revenue growth,” Sigel added.
Importantly, he focused on Circle’s increased distribution and transaction costs. Sigel revealed that the cost rose due to higher fees paid to partners like Coinbase and Binance.
A related post by Farside Investors on X (formerly Twitter) shed further light on these expenses.
“In 2024, the company spent over $1 billion on “distribution and transaction costs,” probably much higher than Tether as a % of revenue,” the post read.
This prompts speculation that Circle may be overspending to maintain its market share in the competitive stablecoin sector. The company’s historical performance further fuels skepticism.
Farside Investors added that in 2022, Circle recorded a staggering $720 million loss. Notably, the year was marked by significant turmoil in the crypto industry, including the high-profile collapses of FTX and Three Arrows Capital (3AC).
This suggests that Circle may be vulnerable to market shocks. Thus, it calls into question the company’s risk management capabilities—especially in the inherently volatile crypto market.
“The gross creation and redemption numbers are a lot higher than we would have thought for USDC. Gross creations in a year are many multiples higher than the outstanding balance,” Farside Investors remarked.
In addition, analyst Omar expressed doubts about Circle’s $5 billion valuation.
“Nothing to love in the Circle IPO filing and no idea how it prices at $5 billion,” he questioned.
He drew attention to several concerns, including the company’s gross margins being severely impacted by high distribution costs. The analyst also pointed out that the deregulation of the US market is poised to disrupt Circle’s position.
Additionally, Omar stressed that Circle spends over $250 million annually on compensation and another $140 million on general and administrative costs, raising questions about its financial efficiency. He also noted that interest rates—core income drivers for Circle—will likely decline, presenting additional challenges.
“32x ’24 earnings for a business that just lost its mini-monopoly and facing several headwinds is expensive when growth structurally challenged,” Omar said.

Ultimately, the analyst concluded that the IPO filing was a desperate attempt to secure liquidity before facing serious market difficulties.
Meanwhile, Wyatt Lonergan, General Partner at VanEck, shared his predictions for Circle’s IPO, outlining four potential scenarios. In the base case, he forecasted that Circle would capitalize on the stablecoin narrative and secure key partnerships to drive growth.
In a bear case, Lonergan speculated that poor market conditions might lead to a Coinbase buyout.
“Circle IPOs, the market continues to tank, Circle stock goes with it. Poor business fundamentals cited. Coinbase swoops in to buy at a discount to the IPO price. USDC is all theirs at long last. Coinbase acquires Circle for something close to the IPO price, and they never go public,” Lonergan claimed.
Lastly, he outlined a probable scenario where Ripple bids up Circle’s valuation to a staggering $15 to $20 billion and acquires the company.
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
Ethereum Price Approaches Resistance—Will It Smash Through?

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Ethereum price started a recovery wave above the $1,850 level. ETH is now consolidating and facing key hurdles near the $1,920 level.
- Ethereum started a recovery wave above $1,820 and $1,850 levels.
- The price is trading above $1,860 and the 100-hourly Simple Moving Average.
- There is a connecting bullish trend line forming with support at $1,860 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must clear the $1,900 and $1,920 resistance levels to start a decent increase.
Ethereum Price Starts Recovery
Ethereum price managed to stay above the $1,750 support zone and started a recovery wave, like Bitcoin. ETH was able to climb above the $1,820 and $1,850 resistance levels.
The bulls even pushed the price above the $1,880 resistance zone. There was a move above the 50% Fib retracement level of the downward wave from the $2,032 swing high to the $1,767 low. However, the bears are active near the $1,920 zone.
Ethereum price is now trading above $1,850 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $1,860 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $1,900 level. The next key resistance is near the $1,920 level and the 61.8% Fib retracement level of the downward wave from the $2,032 swing high to the $1,767 low.

The first major resistance is near the $1,970 level. A clear move above the $1,970 resistance might send the price toward the $2,020 resistance. An upside break above the $2,020 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,050 resistance zone or even $2,120 in the near term.
Another Decline In ETH?
If Ethereum fails to clear the $1,920 resistance, it could start another decline. Initial support on the downside is near the $1,860 level and the trend line. The first major support sits near the $1,845 zone.
A clear move below the $1,845 support might push the price toward the $1,800 support. Any more losses might send the price toward the $1,765 support level in the near term. The next key support sits at $1,710.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $1,860
Major Resistance Level – $1,920
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