BNB Surges 18% To Hit Record High Close To $800

Hey, there! 👋

Over the past seven days, there has been some interesting crypto news, bringing even more optimism to the market. Let’s dive in 👇

quick weekly news

Trump nominates Paul Atkins to replace Gensler as SEC chair

Following the discussions regarding the potential nominees for the next chairman of the SEC (Securities and Exchange Commission),  Donald Trump announced Paul Atkins. 

According to Trump, Paul has proven to “strongly advocate for transparency and protecting investors,” while recognizing that “digital assets and other innovations are crucial to Make America Greater than Ever Before.” Paul is a CEO and Founder of Patomak Global Partners, a risk management consultancy firm, and a former member of the SEC from 2002-2008.

Taking into account the poor performance of the current SEC chairman Garry Censler in regulating the cryptocurrency industry, Donald, at the Bitcoin 2024 conference in Nashville, Tennessee, promised to replace Censler with a more “pro-crypto” SEC chairman. 

Source: Trump on Truth Social

As Garry Censler left the office in January 2025 became obvious to all of the investors, that multiple crypto funds including Bitwise, VanEck, 21Shares, and Canary Capital, began to apply for the Solana ETF to the SEC actively. As Donald Trump’s post suggests it seems like Paul’s view toward innovations is most likely to continue the altcoin bull run in 2025.

REX launches cryptostock income ETF

REX Shares, an innovative asset management company, has announced the launch of an exchange-traded fund (ETF) designed to enable investors to earn income from writing options against crypto-related stocks. According to its announcement on Businesswire, REX employs an “out-of-the-money” call writing strategy on individual stocks within the index while holding those assets in a dedicated basket. This approach allows for earnings from both income generation and price appreciation of the underlying assets.

The ETF holds stocks included in the BITA Crypto Assets & Digital Payments Index, which features companies involved in crypto mining, trading, custody, blockchain technology development, and the creation of digital payment solutions. The BITA Index has already demonstrated strong performance in the market, achieving an impressive 88% YTD return—though this was largely driven by the “Trump trade” rally in crypto stocks following his election victory on November 5th.

Source: BITA

With the launch of this ETF, REX adds to its lineup of covered call ETFs, following similar launches for Nasdaq and AI-related stocks.

“Crypto is transforming financial ecosystems and creating unique investment opportunities. With CEPI, we’re applying our targeted covered call strategy to the sector’s most disruptive companies, creating new opportunities for income generation,” said Greg King, CEO of REX Financial.

BNB surges 18% to hit record high close to $800

BNB, the native coin of the Binance exchange and BNB Chain surged by over 18% in a single day on December 4. This marks a dramatic recovery after its 2023 slump when Binance faced accusations of money laundering. As a result, Binance’s CEO, Changpeng Zhao (CZ), was forced to step down, pay a $50 million fine, and serve four months in a U.S. prison.

In 2023, $BNB dropped to its lowest point at $203, but the following months saw a steady recovery. CZ’s recent release from prison has added optimism to the market, further fueling the coin’s rebound. Additionally, CZ has posted several updates on Twitter hinting at an upcoming alt season and plans to “build a lot,” likely referring to new developments and integrations on the BNB Chain.

This kind of engagement, often popular within the crypto community, similar to Elon Musk’s influence on $DOGE, has driven $BNB up by over 18%, pushing it close to the $800 mark. However, this surge isn’t solely attributed to market sentiment.

Since November 2023, following the resolution of Binance’s legal issues, the exchange has seen a recovery in trading volume. Binance has also introduced innovative features like the Binance HODLer Drop and Megadrop, which incentivize users to hold $BNB in exchange for token airdrops and other rewards.

Source: BitDegree

Martial law causes Bitcoin crash to $65K in South Korea

Meanwhile, in South Korea, the declaration of martial law triggered immediate market disruptions and caused Bitcoin to plummet to 90 million won, or nearly $65,000, on the leading Korean exchange, Upbit. This significant drop in the exchange was primarily driven by fear in the Korean crypto market and a lack of liquidity. Entering the market is notoriously difficult, and the declaration of martial law in Korea led to almost all market participants withdrawing.

“The reason is simple — it is shockingly hard to enter the Korean market and trade there. This means that only a few players can provide liquidity and arbitrage those discrepancies,” said ltrd, crypto analytic on Twitter.

To provide context, on Dec. 3, President Yoon imposed martial law during a live television address, citing a need to “eliminate anti-state elements” and address “threats posed by North Korea’s communist forces.” This announcement was largely aimed at the pro-North Korean party in the South Korean parliament, which had secured a majority of seats and had recently attempted to impeach the president.

However, just a few hours after Yoon’s declaration of martial law, the opposition party dismissed it. A total of 190 lawmakers in South Korea’s parliament voted to nullify the declaration, which Yoon accepted. He subsequently lifted the order, easing tensions. Following these events, Bitcoin quickly recovered to its previous price levels and resumed trading as usual.

Stochastic Oscillator: Meaning and Fundamentals

The stochastic oscillator is a momentum indicator that compares a security’s closing price to its price range over a specific period, helping traders identify overbought or oversold conditions. It is particularly useful for spotting potential trend reversals and optimizing entry or exit points in trades.

Fundamentals and Meaning 🤔

The stochastic oscillator consists of two moving average lines: the blue line (%K), which represents the current value for each session, and the yellow line (%D), which is a three-day simple moving average. These lines move within three zones—overbought, neutral, and oversold—and occasionally intersect.

When the two lines cross, it often signals a potential reversal or a significant shift in market momentum. Traders use the stochastic oscillator to implement various strategies, including line crossovers, overbought and oversold zone trading, and stochastic divergences.

Want to dive deeper into the most common trading strategies for this indicator? 📈 Check out our dedicated guide to trading the stochastic oscillator (STOCH). 👇

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