Crypto Hebdo: From Binance’s Removal of USD to The Arrival of The Merge, Tops, Flops and Outlook – BeinCrypto

With the arrival of The Merge of Ethereum approaching, this week was rather marked by the rise of the supposedly defunct LUNC, the token of the Terra Luna ecosystem having thus been added on many exchanges. Speaking of exchange, Binance has announced that it will remove other stablecoins from its trading platform. Finally, a crypto whale threatens to rock Shiba Inu’s entire ecosystem.

Day D-3 of The Merge of Ethereum

The biggest crypto event since Bitcoin’s Taproot is not too far away. To be more precise, we are exactly 3 days away from the merger at the time of writing this article. This past week, The Merge kicked off with the activation of the Bellatrix update. The event will be finalized when the Terminal Total Difficulty(TTD) reaches the value of (5875000000000000000000). According to the estimates of the project developers, the TTD should reach this level between September 14 and 16.

The migration from Ethereum to the PoS consensus mechanism should make the project more attractive. According to the Ethereum Foundation, energy consumption should drop by more than 95%. A study by Chainalysis also shows that institutional players started adopting cryptocurrency with the background of The Merge. The analysis firm has indeed found that addresses over a million dollars have increased considerably after 12 months.

To learn more, read the following article:

👉: Ethereum could replace some business tools according to a study

LUNC: Back in the foreground

The defunct Luna Classic (LUNC) is gaining momentum after its terrible fall during the month of May. In the space of two weeks, the crypto has already taken more than 500% allowing it to re-enter the top 100 of the crypto market. Exchanges have not remained indifferent to the rise of LUNC. In particular, Binance announced during the week the launch of LUNC futures contracts with a leverage effect of up to x25.

According to BeInCrypto’s technical analysis expert, however, the LUNC may already be reaching its ceiling. Indeed, our analyst Valdrin Tahiri notes that despite this fine performance over the last 15, the LUNC fails to break above the Fibonacci resistance line of the 4.2-4.61 extension of the initial bullish move.

To learn more, read the following article:

👉: Exchanges Add LUNC Token Left For Dead, Fueling Asset Rise

Binance will de-list other stablecoins on its platform

In an announcement posted on its official website, Binance shared that starting September 29, investments in USDC, USDP, and TUSD will be converted to BUSD. This decision, as the exchange explains, will not affect users’ choice of withdrawal.

“Once auto-conversion is complete, users will be able to withdraw USDC, USDP, or TUSD in a 1:1 ratio from their BUSD balances.”

When the measure is effective, Binance has announced that it will remove the following currency pairs from its trading platform:

“ADA/USDC, ATOM/USDC, AUD/USDC, BCH/USDC, BNB/USDC, BTC/USDC, BTTC/USDC, EOS/USDC, ETH/USDC, LINK/USDC, LTC/USDC, SOL/USDC, TRX /USDC, WIN/USDC, XRP/USDC, ZEC/USDC, BNB/USDP, BTC/USDP, ETH/USDP, ADA/TUSD, BNB/TUSD, BTC/TUSD, ETH/TUSD, TRX/TUSD, XRP/TUSD .”

To learn more, read the following article:

👉: Binance removes USD Coin, USDC will be converted to BUSD

Whale threatens to make Shiba Inu dive

Already struggling with the bear market backdrop, a shock hangs over the memecoin ecosystem. According to the information shared by Etherscan, a whale would have withdrawn 741 SHIB in order to transfer them to exchanges.

There would already be nearly 169 billion tokens that have been moved to a Binance account. Which means the whale would be aiming to pocket $1.87 million based on the current crypto price.

However, this information did not affect the course of the SHIB too much. On a weekly basis, the value of memecoin is showing an increase of 5.2% at the time of writing this article.

To learn more, read the following article:

👉: Binance removes USD Coin, USDC will be converted to BUSD

Top and Flops: Terra Classic Leads Crypto Sector Rise

After almost a see-saw performance over the past three weeks, the crypto market seems to be finally waking up. Overall, the capitalization of cryptocurrencies increased by almost 8%. The major projects in the sector, namely Bitcoin and Ethereum, have gained 8.94% and 11.35% respectively over the last 7 days.

Within this bullish movement, the projects of the Terra Luna ecosystem are the ones that have performed the best. According to the given data, the price of LUNC took 70.07% in the space of 7 days. The price of Terra Classic USD also jumped 73.14% during the week. The implementation of the burn process has really allowed the ecosystem to revive.

The Ravencoin project is the other top 100 crypto that has caught the attention of investors. Its price rose by 53.13% over the last 7 days.

Here are the tops and flops of the week

Tops:

Cryptos Current course Gain in 7 days
TerraClassic USD (USTC) $0.05187 73.14%
Luna Classic (LUNC) $0.0004096 70.07%
Ravencoin (RVN) $0.05075 53.13%
Source : Coinmarketcap

Flops:

Cryptos Current course Loss in 7 days
Polygon (MATIC) $0.8802 -0.42%
Axie Infinity (AXS) $14.26 -1.74%
Loop ring (LRC) $0.357 -2.92%
Source : Coinmarketcap

Crypto Market Outlook

The crypto market bounced back after 21 days of mixed performance. The context of the arrival of The Merge has just revived digital assets. But, how far? Michaël Van de Poppe seems to have given an answer to this question. The expert said on his Twitter account:

“Markets are not looking for a downward continuation, there is potentially even upward force as #altcoins start to form better. The fourth quarter of this year could be fun.”

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Crypto Hebdo: From Binance’s Removal of USD to The Arrival of The Merge, Tops, Flops and Outlook – BeinCrypto


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