Market
Rio Innovation Week 2024: Binance VP for Latin America to Speak on BeInCrypto Stage
With Rio Innovation Week 2024 just days away, the BeInCrypto stage has confirmed the attendance of Guilherme Nazar, Vice President for Latin America at Binance.
Representing the world’s largest cryptocurrency exchange, Nazar will speak at the event’s 4th edition, discussing the current state of industry, challenges, and the path to onboarding the next billion users.
Binance Continues Exploring Latam
In its seventh year, Binance continues to prioritize its customers. Nazar will share insights on the state of crypto adoption in Latin America, with a focus on Brazil’s investments in development, security, and Web3 solutions.
“Latin America is a market with great prospects for the digital asset ecosystem, home to three of the top 20 countries in adoption, and there are endless opportunities to develop the local industry, meet users’ needs and educate society,” Nazar said.
Nazar also highlighted Binance’s commitment to working closely with policymakers to create regulations that allow to build innovative products while safeguarding user funds. He shared the exchange’s plans to increase investments in asset custody and new payment functionalities to attract more users.
“2024 has been an exciting year for the cryptocurrency industry and the Web3 ecosystem as a whole, with landmark developments in the regulatory, technological and adoption areas around the world. The industry is stronger and more resilient, and we are excited to build the path to 1 billion users with investments in customer focus, education and security,” Nazar told BeInCrypto.
Binance, the exchange with the most local licenses and approvals worldwide, uses its experience to boost the security and transparency through better tools and technology.
With over $100 billion in assets under its care, Binance is heavily investing in infrastructure. The platform offers a variety of crypto products and services, including educational content and Web3 solutions.
Stellar Lineup on BeInCrypto Stage
Nathalia Arcuri, founder of Me Poupe!, Alena Afanaseva, co-founder and CEO of BeInCrypto, and Fabrício Tota, director of New Business at Mercado Bitcoin, will join Nazar on the BeInCrypto stage. Arcuri, with over 10 million followers, is the mastermind behind the world’s largest finance channel. Afanaseva leads BeInCrypto in 20 languages, transforming it into a global crypto news hub. Tota, a veteran in the financial and tech sectors, is one of Brazil’s most renowned crypto professionals.
The BeInCrypto stage will also feature major names like Agrotoken, B3, Comissão de Valores Mobiliários (CVM), and Itaú Unibanco. Other notable participants include Bradesco, BTG Pactual, Banco do Brasil, Microsoft, ABCripto, Bitso, Trexx, and MIBR. Additionally, Plataforma Impact, the Ethereum Brasil community, Educar+, and many others will be present.
Last year, Rio Innovation Week drew over 155,000 attendees from 15 countries during its four-day event. It featured more than 2,500 speakers across 32 conferences, including a notable stage curated by BeInCrypto journalist Aline Fernandes.
The 4th edition, themed “Humanization in Times of Artificial Intelligence,” will take place at Pier Mauá in the city’s port region, hosting 37 conferences across 28 stages. Organizers expect the event to generate R$2.6 billion in business and attract around 150,000 participants over the four days.
In addition to last year’s themes — Health, Culture, ESG, Energy, Retail, Agriculture, Society 5.0, and Education — new segments have been launched. These include B2Mamy, a digital community for mothers, and BRIFW, focused on fashion, art, and digital beauty. Other new sectors are Humanare (human and organizational development), Planetiers (environmental sustainability), Science for All by Marcelo Gleiser, and the Global Compact and G20 conferences.
For the full program and details about speakers, including Binance and Mercado Bitcoin, visit the Rio Innovation Week website.
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
Notcoin Price’s 25% Rally Is Early Christmas for NOT Traders
Notcoin (NOT) has been in a persistent downtrend since June, facing significant price declines. However, recent developments suggest a potential turning point for this Telegram-based cryptocurrency.
A notable 25% rally has sparked optimism, providing NOT traders with a much-needed boost. This upward momentum could signal a shift as positive sentiment grows within the Notcoin community.
Notcoin Has Considerable Support
Over the past month, Notcoin’s funding rate has remained consistently positive, reflecting a generally optimistic outlook among traders. Despite NOT’s declining price in October, traders held firm, maintaining their positions as funding rates indicated a strong conviction. This resilience in the face of price declines suggests that Notcoin enthusiasts are confident about a potential recovery, indicating stable long-term support from the community.
Such sustained optimism is a promising sign for NOT’s future. The positive funding rate, coupled with recent price action, suggests that investors believe in Notcoin’s potential for a turnaround. If this sentiment continues, it could provide the stability necessary for NOT to build on its recent gains and overcome resistance levels.
Notcoin’s macro momentum is beginning to show strength, supported by technical indicators such as the Relative Strength Index (RSI). The RSI is currently gaining bullish momentum, suggesting that buying interest is on the rise. However, to sustain this growth, NOT needs to turn the neutral line at 50.0 on the RSI into a support level.
Achieving this support on the RSI would signal sustained bullish strength, encouraging additional investor interest. For NOT to maintain its recent rally, this level of momentum must be sustained. Without a firm foundation, Notcoin may struggle to hold on to its current gains, emphasizing the importance of consistent growth indicators.
NOT Price Prediction: Recovering Losses
Notcoin’s price surged by 25% during today’s intra-day high, rebounding from the recent support level of $0.0057. This uptick reflects growing buying pressure, and the altcoin is now looking to continue this momentum with hopes of reaching higher targets.
The broader market’s bullish sentiment could aid Notcoin’s progress, provided investors resist the urge to book profits too soon. If successful, NOT’s target is to flip the resistance at $0.0094 into a support level, solidifying its position and potentially enabling further gains.
However, Notcoin has previously struggled to close above the $0.0083 resistance level. Another failed breach at this price point could prompt a pullback toward $0.0070. A drop below this level would invalidate the current bullish outlook, potentially pushing NOT back to its recent support of $0.0057, which would signal a return to the downtrend.
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.
Market
FTX Files Over 20 new Lawsuits as Part of asset Recovery Efforts
On November 8, the administrator overseeing FTX’s bankruptcy filed more than 20 new lawsuits, ramping up legal actions against several entities.
These lawsuits indicate a concerted effort by FTX to recover assets from multiple companies and individuals. Since November 2022, the FTX Debtors have filed 51 adversary actions, with 30 of them occurring in recent weeks.
FTX Targets $1 Billion in Losses With New Lawsuits
According to documents from the FTX bankruptcy docket, most of the latest filings address various claims, including political contributions, the defunct exchange philanthropic efforts, investments, and allegations of market fraud and manipulation.
“FTX is going after dozens of left leaning groups for all the donations that were made fraudulently with customer money,” an FTX creditor stated.
Thomas Braziel, founder of 117 Partners, stated that FTX might reclaim some donations under US bankruptcy law. He noted that funds can be recovered if they were donated with fraudulent intent or lacked equivalent value. Also, donations made while the donor was insolvent are particularly at risk of being clawed back.
“Not all donations are immune. Bankruptcy trustees will look closely at the debtor’s intent, timing, and financial condition when deciding if a charitable transfer can be clawed back,” Braziel said.
In addition to the non-profits, the failed exchange legal team is pursuing other prominent figures and entities. The estate has filed a lawsuit against former White House Communications Director Anthony Scaramucci and his company, seeking damages of more than $100 million. Another suit targets the team behind Storybook Brawl, a video game that FTX co-founder Sam Bankman-Fried invested in and promoted.
FTX also filed a significant clawback lawsuit against Nawaaz Mohammad Meerun, known as “Humpy the Whale,” who allegedly caused over $1 billion in losses through market manipulation. Earlier this year, Humpy led a governance attack on the DeFi protocol Compound Finance, causing significant losses for the platform.
“Meerun also repeatedly violated FTX’s rules, forcing Alameda to take over Meerun’s risky positions and suffer hundreds of millions of dollars in additional losses. All told, FTX and Alameda suffered approximately $1 billion in losses due to Meerun’s crimes, and Meerun has used the proceeds of his exploits to fund a wide range of other criminal activity,” FTX alleged.
These legal actions reflect FTX’s increasing efforts to recover assets from numerous individuals and companies. Over the past week, the exchange has filed legal actions against major centralized exchanges like Crypto.com and KuCoin over funds belonging to the platform.
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
Analyst Says Altcoin Season Will Begin Due to This Reason
Altcoins have recently surged alongside Bitcoin, which reached a new all-time high this week. Despite Bitcoin’s record-breaking price, the cryptocurrency leader is beginning to lose market dominance.
This shift has raised interest in an upcoming Altcoin Season, also known as AltSeason, as altcoins gain traction among investors.
AltSeason Is Not Far Away
Crypto analyst MikyBull Crypto highlighted that Bitcoin’s dominance is nearing a bearish MACD crossover. Historically, this has often been seen as a key indicator of an impending Altcoin Season.
According to the analyst, the post-election atmosphere is driving this shift, as it historically acts as a catalyst for altcoin rallies. This potential shift in market conditions could lead to a phase where altcoins outperform Bitcoin in terms of growth.
Similarly, analyst IncomeSharks suggested that Bitcoin’s dominance signals a momentum transfer to altcoins. IncomeSharks recommends that investors “buy and hold” altcoins through November, anticipating continued gains as the month progresses.
This analysis aligns with the view that Altcoin Season may begin by month’s end as investors look to diversify away from Bitcoin. Thus as for investors looking to make the best of altcoins might have to hold their horses until the arrival of a confirmation.
Arrival of the Altcoin Season
The Altcoin Season Index currently reflects that while Bitcoin’s dominance is slipping, it has not fully dissipated. For AltSeason to officially begin, 75% of the top 50 altcoins would need to outperform Bitcoin. This benchmark requires 33 of these altcoins to show stronger growth than BTC, confirming the arrival of this season.
Currently, only 19 altcoins are surpassing Bitcoin in gains, indicating that AltSeason has not yet fully materialized. If this figure rises, it would signal a definitive shift. However, for now, Bitcoin’s influence still holds, delaying the start of a strong altcoin rally.
If institutional interest in Bitcoin intensifies, BTC’s dominance could strengthen, potentially postponing the Altcoin Season until 2025. An increase in BTC-focused investments may extend Bitcoin’s lead, keeping altcoin growth in check until broader conditions favor alternative assets.
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.
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