Binance To Reactivate USD Deposits via SWIFT Bank Channel

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Weekly Market Summary

The largest cryptocurrency exchange in the world announced that customers will be able to deposit USD to their Binance accounts using the international interbank system SWIFT.

It was noted that the deposited USD will be credited into the user’s Binance account as BUSD at a ratio of 1:1. The actual amount deposited will be net of fees (if any).

The second-largest cryptocurrency ETH has extended its rally on Sep. 1 to log multi-month highs against BTC and USD. Its run up above $3,500 coincides with a decline in ETH reserves across all exchanges.

Blockchain analytics firm CryptoQuant reported that the amount of ETH held in exchange wallets has declined from 19.45 million on Aug. 18 to 18.75 million on Sep. 1.

However, analysts perceive falling reserves as bullish, arguing that traders primarily withdraw their coins from exchanges because they choose to hold them instead of selling them for other assets.

Quick weekly news:

• CryptoPunks creators sign with top Hollywood agents as sales top $305M in a week
• Here’s Why El Salvador Made Bitcoin a Legal Tender
• Technical Analyst Expects Bitcoin Bull Market Will Peak In October, Predicts Altcoins Will Triple If BTC Hits $100K
• Twitter reportedly working on Bitcoin tipping feature

Other notable events include:

– Cryptocurrency Is “potentially a disaster waiting to happen”
– Doge NFT will be divided into 17 billion Dog tokens

Cryptocurrency Is “potentially a disaster waiting to happen”

Former US President Donald Trump has once again criticized cryptocurrencies on Fox Business.

Trump said that he has “not been a big fan” of cryptocurrencies, and he does not invest in Bitcoin and other digital currencies, as they hurt the US currency. He considers the American dollar as the most reliable instrument in the world.

“I like the currency of the United States,” he said in an exclusive interview on “Varney & Co.” and warned that investing in cryptocurrencies is “potentially a disaster waiting to happen.” as well as they “take the edge off of the dollar and the importance of the dollar.”

Doge NFT will be divided into 17 billion Dog tokens

The $4 million NFT depicting the original Doge meme is set to be fractionalized into ERC-20 Tokens and auctioned off in pieces.

PleasrDAO decided to split the purchased NFT into 17 billion chunks in DOG tokens so that every Dogecoin fan could invest in the iconic NFT.

According to the post from PleasrDAO, 20% of DOG tokens will be available for purchase at the auction today and will be available for trade on fractional.art, or via decentralized exchanges (DEXs) such as Uniswap and SushiSwap.

The idea behind the DOG tokens is based on increasing its price as the original Doge NFT goes up in value.

• Spot trading: At the spot trading front Cardano (ADA) and Ethereum #ETH) have become new favorites. Bitcoin (BTC) and THETA (THETA) were disposed to third and fourth places.

• Derivatives: Bitcoin (BTC) and Alpha Finance Lab (ALPHA) have become the most traded currencies as to trading derivatives. Polygon (MATIC) is following these two head to head with Solana (SOL) and Axie Infinity (AXS) taking fourth and fifth places.

New Listings on CoinbasePro:

• Yearn.finance (YFill/USD YFill/USDT)
• Radicle (RAD/EUR RAD/USDT RAD/BTC RAD/GBP RAD/USD)

New Pairs on Binance:

• Gnosis (GNO/BTC GNO/BUSD GNO/USDT GNO/BNB)

New Pairs on Kraken:

• Moonriver (MOVR/USD MOVR/EUR)

New Listings on Kucoin:

• Qredo (QRDO/USDT QRDO/ETH)
• Shiden Network (SDN/ETH SDN/USDT)
• Wilder World (WILD/USDT)
• WOO_Network (WOO/USDT)
• MakiSwap (MAKI/USDT MAKI/BTC)

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in our app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or an exchange of your choice!

 

SAFEMARS – autonomous yield and liquidity generation protocol. It works by applying a 4% tax to every transaction. This tax is used as follows: 2% is instantly and gaslessly goes to the holders of SAFEMARS. 1% auto-locked into liquidity which increases the price floor. And, finally, the last 1% stays reserved for prizes and rewards for SAFEMARS holders. It’s noted that for each transaction, the SAFEMARS protocol will automatically distribute the rewards to holders.

Creators ensure SAFEMARS is 100% safe and technically unruggable. They state that the initial liquidity is locked away forever, and they burn the LP Tokens regularly for the auto-added liquidity by their smart contract, so that it’s, technically, impossible to remove liquidity at any time.

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Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. It was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

The SOL protocol is designed to facilitate decentralized app (dApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Recent announcements:

Chainlink Price Feeds are now live on the Solana devnet
Chainlink Partners With Solana, Launches Price Feeds On Solana Devnet

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We have prepared top-performing coins of Sep 2 for you.

FTX Token has managed to become the best performing asset among TOP-100, gaining 31.94% within the last 24 hours.

Arweave was the worst-performing asset among TOP-100 (again), losing 5.04% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter.

 

Top cryptomeme of the week

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