Crypto-Upvotes experts reviewed the prospects of cryptocurrency BNB and told what will lead to an increase in its price

BNB is a cryptocurrency that supports the Binance Chain ecosystem. BNB is one of the most popular utility tokens in the world.

The token is a key asset in the launchpad system (launchpad, a platform for launching initial offerings of tokens) and sales on the world’s largest cryptocurrency exchange Binance, which directly affects its value.

The need to keep the token on balance encourages those wishing to participate in exchange events to buy.

In terms of technical analysis, we have seen a very technical nudge towards the $325-340 level for a year now.

The “rising triangle” pattern generally warns traders of an impulsive upward price breakout soon. The pattern is characterized by ” pressing up” prices from below. The maximums remain at the same level. And minima increase, “pressing” the price to the upper boundary. This is followed by an impulsive upward price breakout and destruction of the counter resistance.

Chart BNB

The rising lows marked on the chart at $180, $225, $265 and $320 technically form an upward movement. In our opinion, the price is in the final point and the exit from which could provoke its rapid growth.

The smaller timeframe also suggests a local uptrend, which allows you to enter the trade with a small stop loss.

Trading plan:

Buy BNB/USDT at $317.
Risk: 10% of capital.
Stop loss: $300.
Take profit: $457.

Disclaimer:

Crypto-Upvotes does not provide investment advice. This material is for information purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

Crypto Upvotes experts evaluated the effectiveness of airdrop Arbitrum and told how ARB token exchange price may develop in future

After the sensational airdrop project Arbitrum (March 23), 1 billion ARB tokens were released to market. Which were distributed among 625 thousand addresses. The total market capitalization of token stabilized at $1.63 billion.

At the time of publication, the price of ARB is at $1.28. Having analyzed the experience of projects such as Optimism, Aptos and Blur, whose tokens have also entered the market as part of large-scale airdrops. Our experts told us how the rate of ARB token may behave in the future.

The general bullish trend continues

After listing on exchanges, tokens of projects with airdrops tend to exhibit high volatility. Therefore, there can be both sharp price jumps and drawdowns of tens of percent all at once. Overall, ARB is in line with the “most positive trend.” That’s because the token price didn’t collapse after the start of trading on Bybit, Kucoin, MXC, Huobi, Okex. And then on Binance, although it experienced serious fluctuations. On Huobi, the exchange rate was as high as $11 per token on listing day, though the price went down almost immediately.

First of all, such volatility is due to the fact that those who received ARB tokens during the Airdrop. And then decided to lock in profits immediately after listing, which put pressure on exchange rates. On another note, our Crypto Upvotes experts observed that a significant number of sell orders were placed well in excess of the market price, pushing the rate higher.

If you compare listing of ARB on exchanges with other large tokens with airdrop. The similarity can be seen in the high volatility at the start of trading. The major difference is the “general bullish sentiment” of investors regarding ARB. And this is favored by such data as the growth of total blocked value (TVL) of Arbitrum network by a quarter during the last week. According to DefiLlama, Arbitrum’s TVL stands at $2.18 billion, while its closest competitor, Optimism, has $907 million of locked-in capital in its ecosystem.

Predicting the price of Arbitrum after trading starts is difficult

Starting ARB trading was marked by the fact that on some exchanges trading started a little later than announced. And also the fact that the influx of users led to disruptions in the resources for receiving tokens and on exchanges. Listing of Arbitrum on exchanges was immediately accompanied by high trading volumes, which further attracted crypto-traders. This gives big players an opportunity to form positions without much damage to the average purchase price.

Our experts note that it is difficult to predict the further development of ARB price. Because the price levels have not been fully formed yet. In the short term it is necessary to focus on the level of $1, as it will be a psychological support. In case of a positive scenario, we should be attentive at the price level of $1.5. If this level of resistance is exceeded, the price is likely to quickly approach $2.

Why airdrop Arbitrum became successful

The effectiveness of an Airdrop depends directly on marketing work that the project has done before distributing these tokens. First, the project needs to develop their community, to attract new capital. And constantly pointing to the possibility of a profitable airdrop for active participants. Under such conditions, you can talk about success – even if some of the users in the community decide to sell ARB tokens.

The effectiveness of such a model is good for the popularity a project – it’s an excellent marketing move, our experts say. In the case of Arbitrum, the popular topic media “literally bursting with news”. Because people like to get something for free, especially if it will bring good profits in the future.

However, most traders will fix some part of the received tokens, e.g. 20-30%. The rest will go into stacking or long-term storage waiting for price growth if the project really deserves it. According to experience of our experts, even now we can see that large participants of crypto market actively accumulate ARB in their wallets.

Launching your own crypto project and your own token can be a complicated process. But our experts will tell you what steps you need to take to get the results you want.

Determine the purpose of your token: Before creating a token, you need to determine its purpose. Will it be used as a utility token or security token? Will it be used as a means of payment or as a store of value?

Choose a blockchain platform: You will need to choose a blockchain platform to host your token. The most popular platforms are Ethereum, Binance Smart Chain, and Solana.

Create a whitepaper: Your whitepaper should outline the purpose of your token, its technical specifications, and the use cases for it. It should also include information on the token distribution and any fundraising events.

Choose a token standard: You will need to choose a token standard such as ERC-20, BEP-20, or SPL. These standards dictate the rules for the token’s behavior and functionality.

Develop a Smart Contract and Deploy: Once you have decided on the token standard, you will need to develop a smart contract that defines the token’s behavior on the blockchain. The smart contract code contains the rules and logic of the token, including the token supply, distribution, and transaction rules.

Deploying a smart contract can be a complex process, and it is important to have a good understanding of the underlying technology and best practices. It is recommended to seek guidance from experts in the field and to thoroughly test your contract before deploying it to the mainnet. Our crypto marketing agency “Crypto Upvotes” can help you with smart contract development. This code will include the logic and rules for your token or application.

Marketing to attract investors: 

• Develop a Clear Value Proposition: Clearly articulate the value of your token and what problem it solves. This should be the foundation of your marketing message. 
• Build a Strong Community: Engage with potential investors and supporters on social media and community platforms. Provide regular updates on the progress of your project and encourage participation.
• Create Engaging Content: Produce high-quality content, such as blog posts, videos, and infographics, that educates and informs your target audience about your project and the benefits of your token.
• Participate in Crypto Events: Attend and participate in conferences and events in the crypto space to showcase your project and network with potential investors and partners.
• Leverage Paid Advertising: Consider using paid advertising companies such as Banner Ads on crypto platforms and MEDIA worldwide, Influencers Ads, or social media advertising such as Twitter promotion, Instagram promotion, Discord DMs to investors, WhatsApp DMs to investors, Telegram DMs to investors to reach a wider audience and increase awareness of your token.
• Engage with Crypto Media: Order press releases or sponsored articles in cryptocurrency-focused media to talk about your project and token. This can help create ads and increase visibility for your project.

Marketing and promotion for crypto project

Promoting and marketing crypto tokens requires a deep understanding of the target audience and crypto ecosystem. It is important to focus on building a strong community and providing regular updates on the progress of your project. Additionally, it is recommended to seek guidance from experts in the field to ensure that your marketing efforts are aligned with best practices. Our crypto marketing agency “Crypto Upvotes” can help you with this. We have many services to attract investors to your project. We can also draw up an individual marketing plan specifically for your project.

Launch the token: Once you have completed the previous steps, you can launch your token on the blockchain. Select the launchpad on which you will launch your token. You will need to distribute the tokens to investors, create a market for them, and comply with any regulatory requirements. 

Launching your own crypto-token requires technical knowledge and a lot of experience. It is recommended that you consult with experts in the field to ensure that you are following best practices and complying with all legal requirements. Our crypto marketing agency “Crypto Upvotes” will help with any problem. From developing a smart contract to listing a token on crypto exchanges. Contact our experts for the best advice and services.

New trend on the crypto market or how popular AI sphere among investors affects the prices of cryptocurrencies

ChatGPT, an artificial intelligence-based chatbot with a billion-dollar investment from Microsoft. In January of this year, it gained 100 million users, becoming the fastest-growing Internet app in history.

In early 2023, digital currencies and artificial intelligence spawned a single breakthrough in the crypto-asset market. And the domestic tokens of AI-related development projects continue to rise in value.

Justin Sun, head of the Huobi exchange and creator of the Tron (TRX) coin, posted on Twitter the idea of a mechanism to create an “AI-centric decentralized payment system” for ChatGPT.

According to his idea, such an environment would create a decentralized payment system. It would thus be secure, reliable, tamper-proof, censor-proof, and able to support AI. This will build a new decentralized, intelligent financial ecosystem.

Last week, OpenAI, the developer of ChatGPT, announced that it would begin charging a $20 monthly subscription to cover computing costs. Until then, the chatbot, launched in late November, had remained free.

Tokens that associate themselves with AI are rising in value

In general, the coins of blockchain projects, which in one way or another involve artificial intelligence. Since the beginning of this year have been the group of the most successful crypto-assets in terms of investment.

Leader in terms of market capitalization in this category, according to CoinGecko, is SingularityNET project coin (AGIX). In the past week alone, this asset rose in value almost 2.5 times, reaching 45 cents. Although it was trading at 7 cents less than a month ago. The developers of the service position it as “the first decentralized artificial intelligence marketplace”. Which is based on Cardano blockchain.

Tokens from the other most capitalized AI projects also continue to rise. This is happening even despite the short-term decline in Bitcoin and the crypto market as a whole. Fetch.ai (FET), a coin platform with machine learning algorithms, gained more than 65% in the past month. And the OCEAN token, used by the Ocean Protocol “data economy” project, has more than doubled since the beginning of January.

Our experts note that projects with relatively low market capitalization are also included in the growth trends. Due to their lower liquidity, large purchases of their tokens inevitably lead to strong price hikes. Thus, the rate of AIRI token belonging to the barely known aiRight platform increased several times in just one day. Its developers declare the use of AI in the creation of NFT. A similar scenario was observed with the IMGNAI token, created to pay for the creation of anime-style images by a neural network project under the unsophisticated name of Image Generation AI.

Success of AI caused the growth of shares not only in crypto companies

Success at ChatGPT has spurred investor interest in AI-based technologies, not just in the crypto market. Last month, the share price of struggling media company Buzzfeed surged. This came after it announced plans to use artificial intelligence to create content. Similarly, shares of little-known public companies soared after they added the word Blockchain to their name. This was at peak cryptocurrency markets in early 2018 and late 2021.

That said, the hype around AI is borne out by the numbers. In January, JPMorgan Bank conducted its annual survey of professional traders about upcoming trends in electronic trading. It surveyed 835 industry representatives from 60 regions around the world.

AI, according to the survey, outperforms all other major categories. For its 53% citation rate, it far outpaces API integration (14%) and blockchain (12%). Only 8% of respondents confirmed that they trade cryptoassets.

Launch of a new cryptocurrency, attached to Australian dollar exchange rate on Ethereum blockchain, scheduled for mid-2023. Crypto-Upvotes expert review

National Australia Bank (NAB), one of four major Australian banks, has created an AUDN stablecoin on the Ethereum blockchain. It will be attached to the rate of Australian dollar (AUD), according to Australian Financial Review. Banks plan to launch this coin in mid-2023.

The goal of creating AUDN is to allow bank customers to make real-time blockchain-based settlements in Australian dollars, the NAB said. AUDN can also be used for a number of other purposes, including carbon credit trading and repo transactions.

NAB also intends to use AUDN for low-cost international transfers. According to the bank, the technology will avoid using the SWIFT system. And reduce dependence on complex and costly relationships with correspondent banks when sending money abroad.

For at least three months AUDN will not be available to customers. Because while the bank under the supervision of regulators is conducting internal testing. Including transfers between subsidiaries and branches.

AUDN is not the first stablecoin to be pegged to the Australian dollar. 9 months earlier, Australia-New Zealand banking group ANZ Bank issued the A$DC (“A dollar DC”) coin. Also Novatti payment system created the AUDD stablecoin on Stellar blockchain. And Ettle has launched AUDE token on Ethereum and Algorand.

There are also stablecoins linked to Australian dollar exchange rates such as AUDT, XAUD, AUDRamp and TrueAUD. Volumes of these cryptocurrencies are minimal.

Last month, Reserve Bank of Australia Governor Philip Lowe said that regulating stable coins should be a priority and should be treated the same as bank deposits. Our experts note that Australia is also actively developing legislation and introducing technology for other digital assets. For example, in the middle of last year, Australian Gold Coast Mayor Tom Tate proposed accepting cryptocurrency in payment of municipal taxes.

Opening of National Exchange of Indonesia is scheduled for this year. And it should take place before the change of transfer of crypto-assets supervision to the new regulator. Review by Crypto-Upvotes experts

The Indonesian government plans to launch a national cryptocurrency exchange as part of financial sector reform. The project is to be completed in 2023, before the authority to oversee cryptocurrencies in the country is transferred to a new regulator.

The local Commodity Futures Trading Regulatory Agency (BAPPEBTI) now regulates crypto-assets in Indonesia. According to a spokesman for the agency, the Financial Services Authority (FSA) will take over oversight of cryptocurrencies over the next two years. A national cryptocurrency exchange should already be up and running by the time regulators switch powers.

In 2021, Indonesia’s Central Bank Governor Perry Warjiyo announced the regulator’s intention to issue its own national digital currency (CBDC). Currently, Indonesian law prohibits the use of cryptocurrency as a payment instrument. However, trading in digital assets in Indonesia is allowed.

In 2018, Tokocrypto crypto exchange was officially launched in the country. The platform became the first cryptocompany in Indonesia approved by BAPPEBTI. Since 2020, Binance has been one of the investors of the exchange. The size of Changpeng Zhao’s stake has not been disclosed, but last December the media twice reported on the leading Binance’s plans to gradually increase its stake in Tokocrypto to 100%. Each of the news was accompanied by a sharp rise in the platform’s native token (TKO).

Our experts note that Asian market is probably important to Binance as a whole. And the exchange is entering it by acquiring stakes in local trading venues. In late November last year, the exchange acquired a stake in Japan’s Sakura Exchange (SEBC), a platform officially regulated by the Japan Financial Services Agency (JFSA). On January 2, local media reported on Binance’s plans to buy one of Korea’s leading cryptocurrency exchanges, Gopax.

In January 2023, there will be several big events at once. Which may affect both the value of individual cryptocurrency and crypto market as a whole. Review by Crypto-Upvotes experts

COTI (COTI) – launch of DJED stablecoin

At the Cardano Cryptocurrency Summit in late November, COTI CEO Shahaf Bar-Geffen announced the launch of an algorithmic stablecoin, DJED. According to its developers’ plan, the stablecoin will go live in January after a thorough audit and will be linked to the U.S. dollar. DJED will be backed by Cardano’s base coin (ADA). And use the SHEN coin as a backup.

The DJED algorithm is based on a collateral ratio in the 400%-800% range for DJED and SHEN. This is necessary to ensure a sufficient number of ADAs in a pool. Agreements have already been signed with 40 partners and decentralized exchanges for fast and proper implementation. These projects will offer increased rewards to those who provide liquidity with DJED.

The developers also announced Djed Pay. It’s a payment app and crypto-gateway that allows merchants. As well as e-commerce platforms and non-profit organizations to accept DJED as payment.

Flux (FLUX) – FluxOS V3.30.0 release

Flux project developers announced that FluxOS V3.30.0 update will take place on January 2 on unit number 1288000. All owners of node validators need to update their software by January 3. The update will fix synchronization issues. As well as reconfigured prices for decentralized applications. And changes have been made to prepare for a future update.

Flux Network is a former ZelCash project that was launched in 2018 and rebranded in March 2021. The main goal of the project is to create a decentralized Internet. To achieve this goal, the Flux project aims to achieve the maximum distributed network.

The blockchain can be supported by anyone: either by running a validator node (node) or by running mining on a video card. Rewards are divided equally between nodes and miners. FluxOS is an operating system that allows the deployment of decentralized applications (dApps). ZelCore is a multicurrency cryptocurrency wallet supporting over 450 coins and 50,000 tokens.

Cryptocurrency Klaytn (KLAY) — hardfork Kore

On January 10, after finding block number 111,736,800, the update for the Baobab network will go into effect. And an update for the Cypress network is planned for March 2023. All of these updates are part of the larger Klaytn v1.10.0 release. After the update, the block bounty structure will change. As well as there will be new features for API interface, gas cost for some functions will change. More details about the update can be found on the project website.

Klaytn blockchain is a development of Korean Internet giant Kakao. The main network was launched in 2019. The project is aimed at corporate businesses that plan to launch their applications in the field of meta or GameFi. And it provides users with convenient access to blockchain. This cryptocurrency project with corporations such as Samsung, LG Electronics, and Union Bank.

Polkadot (DOT) – Hackathon

On January 25th another online hackathon by the Polkadot project will start. This time the event will be held in Europe. The previous ones were held in the Pacific and North American regions. Participants are invited to present their project in one of five categories. These are: Interface and Experience, Smart Contracts, Web 3.0 and Development, DeFi, NFT. In each of the categories, the prize money is $35,000. Then each finalist team will be paid $3k for their flight to Paris.

In addition to the main prize fund, Moonbeam, Zeitgeist and ICE will also be offering prizes. On March 22 the dotSocial event will be held in Paris. There, finalists will be able to present and talk about their projects on the main stage of the event. You can register and find out more information on the website of a hackathon.

The government-supported platform will conduct secondary trade in NFT and digital asset copyrights. Crypto-Upvotes expert review

China will launch its first regulated NFT trading platform on January 1, 2023. This was reported by Sina News. ” China Digital Asset Trading Platform ” will be a secondary marketplace for NFT. It is jointly created by state-owned China Technology Exchange and Art Exhibitions China. And a private company, Huban Digital Copyrights Ltd.

The new trading platform will focus on a national strategy to digitize culture. It will use blockchain and NFTs as the basis for technical support for the innovative development of the cultural industry and the preservation of cultural heritage.

NFT in China are called digital collectibles. In addition to these, the platform will also trade copyrights related to digital assets. Specific types of items that will be featured on the platform have not yet been determined.

Our experts note that according to Chinese laws, NFT cannot be purchased for cryptocurrency. At the end of September 2021, the People’s Bank of China banned cryptocurrency transactions. The use of digital assets for payments equates to illegal financial activity. NFTs are sold in China on closed regulated platforms.

Visa is using a proposal from Ethereum developers. It will allow automatic pre-scheduled payments from non-custodial crypto wallets

Visa has developed a blockchain-based autopay solution. A document published by this company details a new concept based on Account Abstraction (AA) technology from Ethereum developers. It will allow the implementation of automatic pre-planned payments using smart contracts in non-custodial users’ wallets.

Account Abstraction technology was proposed back in 2016. Since the core Ethereum network does not yet support AA. Therefore, VISA implemented its solution in StarkNet, a second-tier blockchain built on top of Ethereum blockchain. The account model in StarkNet just uses AA technology.

Whereas normal accounts check if a transaction is correctly signed for a specific address. With StarkNet, they simply verify that the transaction is coming from a given address. In addition, the introduction of Visa’s concept into this blockchain has not only enabled the deployment of a new auto-payment feature. But also increased transaction throughput.

Visa notes that it sees autopay as a key functionality that the existing blockchain infrastructure lacks. And it invites interested companies working in this area to work together on projects in the field of programmable payments.

Our experts note that payment companies from traditional financial industry this year began to actively develop projects related to blockchain and cryptocurrency. Also at the end of September, SWIFT and Chainlink oracle network announced joint work on a blockchain project. This project will allow traditional financial companies to conduct transactions on a platform that supports almost all blockchains.

Crypto-Upvotes experts told about the threat of massive asset outflow from the largest cryptocurrency exchange Binance and its opaque financial statements.

Binance is trying to reassure investors of its financial strength after the collapse of rival exchange FTX. The effects are still being felt in crypto markets. Billions of dollars worth of cryptocurrency were withdrawn from the exchange in a matter of days.

Outflows from Binance could range from $6 billion to $8 billion, including Bitcoin and other cryptocurrencies such as Tron.
At the same time, analyst firm Nansen reported that users of the trading floor withdrew $3.6 billion in Ethereum. And ERC-20 standard tokens in seven days, while $2 billion was withdrawn in just one day.

After the collapse of FTX and subsequent series of bankruptcies of leading crypto players, major crypto exchanges are trying to convince their customers. That they have enough assets in their wallets and user funds are safe and remain available for withdrawal. Earlier this month, accounting firm Mazars produced “proof of reserves” reports for Binance and other exchanges, including Crypto.com and KuCoin.

At the end of an already difficult week for Binance. Mazars said the firm had suspended activities related to audits of companies in the cryptocurrency industry. This is due to concerns about how such reports are perceived by the public. According to Financial Times sources, media hype was one of the factors that influenced the decision of Mazars.

Published reports on crypto exchanges’ reserves are severely limited in data compared to the results of traditional corporate account auditing procedures. Mazars uses what are known as “consistent procedures” to report on reserve validation. But it does not use asset analysis in the usual sense. No assurances or conclusions are given on the figures in the report in this kind of verification.

Reasons for auditing companies to refuse to work with cryptocurrency exchanges

Mazars’ decision to stop working with Binance. And also for others exchanges was not prompted by specific financial problems at any of the exchanges. The firm’s work was severely limited, and the auditors did not delve too deeply into examining the financial situation of the cryptocurrency platforms.

From a risk perspective, what’s happening with Binance could cause secondary problems. A significant outflow of capital from any business can create local liquidity problems. Even if an exchange is able to cover 100% of deposits, it does not mean that it has sufficient funds or liquid investments.

“The ironic thing about what is happening is that the main trigger in a series of bankruptcies in the cryptocurrency market was the rumors that the head of Binance. Also spread in the public space and his verbal manipulation. And now the main problem for his exchange is the emergence of the same type of rumors around Binance.” – said our expert.

“Black Box” new name for Binance

December 19, Reuters released a story that calls Binance a “black box,” referring to the corporate documents and declarations of the exchange, copies of which journalists were able to access. Among the claims against Binance are the concealment of financial data and the share of its native token (BNB) in the balance sheet. The article also mentions security risks in margin trading. And another portion of doubts about the real volume of user funds reserves.

It has become customary for Binance and its head Changpeng Zhao to publicly refute loud statements by journalists as in official publications of this exchange. And in personal social networks in front of millions of followers. Zhao has repeatedly assured that the Mazars report is “further confirmation” that the exchange’s assets equal or exceed its liabilities to customers.

In the case of Binance, we can talk about an excellent marketing strategy. Which provided a stable inflow of new clients for several years ahead. Therefore, potential liquidity problems may be smoothed out or may not even have started.

Assets on wallets with public addresses of Binance amount to more than $60 billion. This information can be checked through any blockchain browser or on special pages of services that track reserves of cryptocurrencies. At the same time, the company does not disclose information about its liabilities. This makes it difficult to determine its actual financial position.

How stable is crypto exchange Binance?

If the outflow of client funds continues, Binance may have a serious need to plug the holes and credit. And who will give it after the collapse of FTX? That’s the biggest question.

If Binance collapses, it will postpone the recovery of the crypto market for many years. And any positive developments in the next two years could lose any positive impact on the Bitcoin exchange rate.

Theoretically, if we consider the collapse of Binance in FTX scenario. It would cause infrastructural problems for the entire cryptocurrency market. On the one hand, the market would survive and exist regardless of the ability of specific projects to sustain their work. On the other hand, the “huge in its scale project decline” associates the crypto market with Binance.

However, in reality, such an apocalyptic scenario has a rather small chance of realization, our expert believes. Therefore, one should not seriously talk about an urgent withdrawal of funds from Binance.

Rather, the more people do not give in to the trend of cryptocurrency withdrawal, the higher will be the safety of each of participants. For each individual isolated investor, it is more profitable to withdraw money outside of exchange. But at the same time, if the majority will continue to keep cryptocurrency inside the project, it will keep Binance stable and will be beneficial to all, says our expert.