Wal pushes Bitcoin on the stock exchange
Binance Exchange stops trading security tokens
On July 16, Binance announced that it would end security token support on Binance.com to focus on other product offerings. Security tokens are a way for investors around the world to indirectly invest in stocks of large US companies that were offered on Binance.
Following this announcement, Binance immediately stopped purchasing security tokens on Binance.com and Binance.com will no longer support security tokens after October 14, 2021 19:55 (UTC).
Users who currently have stock tokens can sell or hold them for the next 90 days. If security token holders have still not sold their tokens after October 14th, Binance will perform an automatic sale and close those tokens. The selling price is based on the actual price that will be executed after the market opens on October 15, 2021 1:30 p.m. (UTC).
CM-Equity AG (Switzerland) is the company that provides security tokens for Binance. CM-Equity AG is building its own platform to support users residing in the European Economic Area (EEA) and users residing in Switzerland. Users who want to continue to hold security tokens can transfer their tokens to CM-Equity AG after the new platform has been established.
In addition to Binance, the FTX exchange also offers similar security tokens. However, at the moment we have no announcement from this floor.
Whales push Bitcoin to the ground
A stock of Ki Young Ju is controversial because a large amount of wallet data is pushing BTC to exchanges.
Ki Young Ju shared above documents from CryptoQuant showing that the blue area is the percentage of whales pushing BTC to the bottom above 0.85 which is the high. He thinks this is a bad sign and it is possible that the price will continue to fall. Ki Young Ju also used the example of the past to prove the same thing.
However, many people have replied to Ki Young Ju that this was only representative of the thoughts of the majority of BTC camps. Before that, there were times when the exchange whale ratio was below 0.85 and the BTC price was still falling. Conversely, this index is often above 0.85, but the price continues to rise.
Bitcoin’s continued sideways movement in the $ 30,000 price zone has discouraged many investors. Google Trends data also shows that search interest in Bitcoin has plummeted and is at a low level.
Information, good news, is part of attracting investors, including those new to the crypto market. Also, what attracts investors the most is that their acquaintances make money with both BTC and crypto. And then the price soared and the most obvious expression of Fomo sentiment hit the market. However, in order to make profits when the market is rising, investors need to understand that it is a very good time to accumulate when the price is falling and the market is moving sideways.
Bank of America offers its customers the Bitcoin Future service
Amid yesterday’s bad news, the news that Bank of America has been providing services to BTC is remarkable good news. After years of Bitcoin hacks, one of America’s second largest banking institutions – Bank of America – appears to have completed 180 transactions. The organization specifically approved trading in BTC futures contracts.
The bank has already allowed some customers who may have already started interacting with the major cryptocurrency through BofA’s platform, which will be using CME futures.
Regardless of their position, an ordinary person, government, bank, … has gradually seen both opportunities and reasons to invest and develop profitably related to Bitcoin. In the future, we will see more and more approvals for both Bitcoin and crypto. Bitcoin will continue to grow and become part of the economy.