Crypto News This Week: Bitcoin’s Drop, Binance Alerts on Altcoins, and Vitalik Buterin’s Portfolio
Crypto News This Week– This week, the broader crypto market saw a significant downturn, with Bitcoin dropping to $53,500, marking its lowest point in four months. At the same time, altcoins also recorded double-digit declines.
Despite prevailing bearish trends, notable highlights included the rising popularity of Hamster Kombat and the completion of phase 1 of the Artificial Superintelligence (ASI) merger, providing positive developments in the crypto sector.
Binance Enhances Monitoring of Altcoins
Binance has expanded its watchlist to include 11 new altcoins, raising concerns about potential delistings. Tokens like Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarter (POLS), Status (SNT), and Sun (SUN) are now under scrutiny, leading to significant price declines.
Following the announcement, Cortex dropped by 8.09%, while PowerPool and Dock fell by 12.66% and 11.71%, respectively. Binance’s move aims to address tokens showing heightened volatility or risk, signaling potential future actions regarding compliance with the exchange’s listing standards.
FAQs
Why did Bitcoin fall?
Bitcoin’s fall can be attributed to several factors including general market uncertainty, regulatory concerns, and global economic factors. Additionally, profit-taking by investors and technical analysis factors could also have played a role.
Why did Binance caution about altcoins?
Binance warned about altcoins because the altcoin market tends to be more volatile, and investors need to be cautious. Particularly, low-liquidity altcoins can experience significant price fluctuations, increasing risks.
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