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MrSpasybo

Impact of the event Binance burned $600M in BNB

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Binance Coin (BNB) saw its 15th burn to date on Friday. According to on-chain data, Binance burned nearly $600 million worth of BNB tokens.

Historically, Binance has burned around 20% of the exchange’s profits. But in the last burn, Binance burned much more than 20%, and the exact percentage of the burn remains uncertain.

Sourse: Record $600M BNB burn suggests Binance made $750M in profit in Q1

 

It is normal for Binance to burn BNB on a quarterly basis, but when they increased the token burn rate from 20% to 80% at this time, it caused me much confusion.


+ Is Binance looking to push BNB price higher to quickly reach the capitalization of ETH?
+ Is this a way for Binance to promote the BSC exchange and ecosystem in the context of Ethereum congestion and Cardano is not ready to serve smart contracts?
+ Is this a stepping stone for Binance to get the attention before entering the stock market like Coinbase?

 

According to BNB/BTC chart, BNB price only goes through wave 3 in a short cycle. I believe this event will bring BNB price to 0.0155 BTC after the minor correction is over.

 

If4TBsPo.png

 

What do you think about this issue? Is everything just a coincidence when CZ decided to burn more than 1M BNB instead of 250K BNB? And can BNB price reach 0.0155 BTC soon?

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There is no doubt that the price of the BNB will surge after this burning too. In the past after every burning there seems a time for the consoldiation or small correction and after that BNB doesnot listen to anyone. And this burning is even bigger, if anyone is holding the BNB then sure we need to hold our bags,( Not a financial advice btw)😧. If we look at the CZ deeds, He is leading the Binance project with the full potential and to overcome the ETH rank, I amnot sure he will succeed or not but the ongoing burning looks significant. Last time the price pumped from like 40$ to straight 300$ and this time the burn is even bigger. Sure the moves of BNB in few weeks will be really higher. I am just holding my BNB tight.

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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10 hours ago, Ridam said:

There is no doubt that the price of the BNB will surge after this burning too. In the past after every burning there seems a time for the consoldiation or small correction and after that BNB doesnot listen to anyone. And this burning is even bigger, if anyone is holding the BNB then sure we need to hold our bags,( Not a financial advice btw)😧. If we look at the CZ deeds, He is leading the Binance project with the full potential and to overcome the ETH rank, I amnot sure he will succeed or not but the ongoing burning looks significant. Last time the price pumped from like 40$ to straight 300$ and this time the burn is even bigger. Sure the moves of BNB in few weeks will be really higher. I am just holding my BNB tight.

@Ridam Indeed everyone is waiting for next upside price for BNB, and if that happens, BNB capitalization could be half that of ETH and make the competition more complicated and intense than ever. Unfortunately, I don't hold BNB, I only have a few USD in BNB swapped from the small assets in Binance wallet. It would be better if I used all ETH to buy BNB before, ETH price shows no sign of growth.

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10 hours ago, MrSpasybo said:

@Ridam Indeed everyone is waiting for next upside price for BNB, and if that happens, BNB capitalization could be half that of ETH and make the competition more complicated and intense than ever. Unfortunately, I don't hold BNB, I only have a few USD in BNB swapped from the small assets in Binance wallet. It would be better if I used all ETH to buy BNB before, ETH price shows no sign of growth.

Well It would be better if you try to accumulate the BNB in the dips like we saw in today isstead of cutting the ETH for BNB. ETH has a lot of room to grow and we are still in the start of long journey ahead because we have crossed the ATH only. And if we look at the ETH/BTC chart eth hasnot done any significant moves like in previous days. Just hodl and Personally I am also into the ETH and I am just enjoying the profit as I had bought the ETH around 1500 so no need to worry at least for me.

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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15 hours ago, Ridam said:

Well It would be better if you try to accumulate the BNB in the dips like we saw in today isstead of cutting the ETH for BNB. ETH has a lot of room to grow and we are still in the start of long journey ahead because we have crossed the ATH only. And if we look at the ETH/BTC chart eth hasnot done any significant moves like in previous days. Just hodl and Personally I am also into the ETH and I am just enjoying the profit as I had bought the ETH around 1500 so no need to worry at least for me.

@Ridam I am not a professional trader so it is quite difficult to read and understand TradingView's indicators, I am self-learning but obviously it takes more time and effort for my trading career. So I continue to hold ETH, even if only a few ^^
I still expect ETH's growth, but it's clear that it hasn't seen much volatility over the past several weeks. This makes me regret when I missed the opportunity with BNB & DOGE. Perhaps this is the common mentality of many people.
I am looking forward to a recovery in BNB price thanks to the coin burning event, maybe I will use ETH to buy BNB.

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On 4/16/2021 at 11:10 PM, MrSpasybo said:

Is Binance looking to push BNB price higher to quickly reach the capitalization of ETH?

Exactly, I am thinking so. Recently BNB managed to be at the third spot after Bitcoin and Ethereum. Total marketcap for BNB is also increasing and its an indication, it is heading to spot the 2nd spot in the CMC list. 

On 4/16/2021 at 11:10 PM, MrSpasybo said:

Is this a way for Binance to promote the BSC exchange and ecosystem in the context of Ethereum congestion and Cardano is not ready to serve smart contracts?

Exactly. As the usecase of BNB is increasing due to the Binance Chain and another parallel chain BSC( powered by EVM ) based DeFi activities, it can be the smart ideas to attract the users towards BSC based platforms. Increasing price in BNB may serve as the delicious ice-cream to the investors 😀

On 4/16/2021 at 11:10 PM, MrSpasybo said:

Is this a stepping stone for Binance to get the attention before entering the stock market like Coinbase?

It depends on their further strategies, CZ can do anything ! 

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I think it is just a way to making their coin profitable so that people get interested to invest on it, it is a promotion and a competition.

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On 4/20/2021 at 8:00 AM, Whited35 said:

Exactly, I am thinking so. Recently BNB managed to be at the third spot after Bitcoin and Ethereum. Total marketcap for BNB is also increasing and its an indication, it is heading to spot the 2nd spot in the CMC list. 

Exactly. As the usecase of BNB is increasing due to the Binance Chain and another parallel chain BSC( powered by EVM ) based DeFi activities, it can be the smart ideas to attract the users towards BSC based platforms. Increasing price in BNB may serve as the delicious ice-cream to the investors 😀

It depends on their further strategies, CZ can do anything ! 

@Whited35 All of this reminds me of CZ's previous statement: BSC was not born to compete with Ethereum. That's right, BSC wants to replace Ethereum ^^
We have seen the impact of the BNB burning event from Binance, more information about CZ wanting to burn more tokens from Binance's founding members, the BNB price has made added peaked as soon as people thought the BNB price would have strong correction after quick increase.
19XLtLQs.png

 

11 hours ago, selfmade said:

I think it is just a way to making their coin profitable so that people get interested to invest on it, it is a promotion and a competition.

@selfmade Yeah, we all understand the purpose of burning tokens. But in this case, as Binance overheats the token burning, we will realize its many other purposes besides reducing supply.

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11 hours ago, MrSpasybo said:

@Whited35 All of this reminds me of CZ's previous statement: BSC was not born to compete with Ethereum. That's right, BSC wants to replace Ethereum ^^

Lol, maybe yeah but in reality its really, its really a tough task for BNB to book the second spot after replacing the giant ETH which is approaching towards the another era  of PoS. 

11 hours ago, MrSpasybo said:

We have seen the impact of the BNB burning event from Binance, more information about CZ wanting to burn more tokens from Binance's founding members, the BNB price has made added peaked as soon as people thought the BNB price would have strong correction after quick increase.

I'm pretty much sure, recent burning of BNB might inspire BNB to reach another milestone of $2K mark in the cryptocurrency markets so it will be interesting see the upcoming interesting moments 😁

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Maybe with this big event Binance managed to support price of BNB. When everything drops by 20% weekly, BNB only falls by 8%. This means that if the trend becomes very bullish again BNB will give a lot more profit. It has done so much that I am impressed with the price of this crypto.

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11 hours ago, Whited35 said:

Lol, maybe yeah but in reality its really, its really a tough task for BNB to book the second spot after replacing the giant ETH which is approaching towards the another era  of PoS. 

I'm pretty much sure, recent burning of BNB might inspire BNB to reach another milestone of $2K mark in the cryptocurrency markets so it will be interesting see the upcoming interesting moments 😁

@Whited35 The potential of BNB is huge, especially when the ETH price is growing strongly, creating more motivation for BNB price increase because the value of use of BSC is now greater than that of Ethereum.
Now I think BNB can x10 on BTC and reach 0.018 BTC ~ 1600 USD (not only 0.0155 BTC)during this bullrun. And we can see a new closer price level ~ 0.014 BTC


eDZKzKis.png

 

5 hours ago, Mella said:

Maybe with this big event Binance managed to support price of BNB. When everything drops by 20% weekly, BNB only falls by 8%. This means that if the trend becomes very bullish again BNB will give a lot more profit. It has done so much that I am impressed with the price of this crypto.

@Mella I agree with this,I thought that BNB price will decrease to Fibo 0.5-0.382-0.236 and then lessen back up, but surprisingly, the BNB price just hit Fibo 0.618 (~ 0.008 BTC) and then bounced back in the race with ETH.
It is clear that the token burning event has a very positive effect on BNB price.

Edited by MrSpasybo
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42 minutes ago, vienna delanteraa said:

It is clear that after every currency burn, BNB rises in value and there is nothing to be afraid of like a future crash or the like, but in my opinion there is a long way for BNB to be able to overperform ETH

By the way I have heard that ethereum is also burning coins, so if BNB wants to compete Ethereum by burning coins, it is not gonna work. https://decrypt.co/52157/ethereum-developer-we-are-going-to-burn-a-lot-of-eth

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13 hours ago, MrSpasybo said:

@Whited35 The potential of BNB is huge, especially when the ETH price is growing strongly, creating more motivation for BNB price increase because the value of use of BSC is now greater than that of Ethereum.

BNB/ETH price strength also does matter here. As the less BNB supply is there for the different purposes which are based on the Binance Chain and Binance Smart Chain, BNB price can be sky rocketing in future, IMHO. 

13 hours ago, MrSpasybo said:

Now I think BNB can x10 on BTC and reach 0.018 BTC ~ 1600 USD (not only 0.0155 BTC)during this bullrun. And we can see a new closer price level ~ 0.014 BTC

My expectation is  even higher than this o I am still keeping BNB safe inside my non custodial wallet. I am not even taking the risks by placing the sell order of BNB to perform trade on the exchange 😂

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On 4/16/2021 at 8:25 PM, MrSpasybo said:

Binance Coin (BNB) saw its 15th burn to date on Friday. According to on-chain data, Binance burned nearly $600 million worth of BNB tokens.

Historically, Binance has burned around 20% of the exchange’s profits. But in the last burn, Binance burned much more than 20%, and the exact percentage of the burn remains uncertain.

Sourse: Record $600M BNB burn suggests Binance made $750M in profit in Q1

 

It is normal for Binance to burn BNB on a quarterly basis, but when they increased the token burn rate from 20% to 80% at this time, it caused me much confusion.


+ Is Binance looking to push BNB price higher to quickly reach the capitalization of ETH?
+ Is this a way for Binance to promote the BSC exchange and ecosystem in the context of Ethereum congestion and Cardano is not ready to serve smart contracts?
+ Is this a stepping stone for Binance to get the attention before entering the stock market like Coinbase?

 

According to BNB/BTC chart, BNB price only goes through wave 3 in a short cycle. I believe this event will bring BNB price to 0.0155 BTC after the minor correction is over.

 

 

If4TBsPo.png

 

 

What do you think about this issue? Is everything just a coincidence when CZ decided to burn more than 1M BNB instead of 250K BNB? And can BNB price reach 0.0155 BTC soon?

So they are just burning their coins for whats main reason, they need to decrease the supply of their coins in order to increase the demand, if is for that reason, they would succeed because the BNB price is also at a massively bullish now.


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Everyone has started accumulating their balance, hoping for a rise in prices. All expectations indicate that. We hope this will happen and it will bring in a lot of profits. Good luck for everyone in that.

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22 hours ago, selfmade said:

By the way I have heard that ethereum is also burning coins, so if BNB wants to compete Ethereum by burning coins, it is not gonna work. https://decrypt.co/52157/ethereum-developer-we-are-going-to-burn-a-lot-of-eth

@selfmade EIP-1559 is how Ethereum will burn a portion of transaction fees, expected to be about 1M ETH per year, which will reduce the supply of ETH in the market and have a positive effect on ETH price.
I think this is a very normal thing, not being manipulated like the way that Binance suddenly increased the token burning rate from 20% to 80% of exchange profit.

 

9 hours ago, Whited35 said:

BNB/ETH price strength also does matter here. As the less BNB supply is there for the different purposes which are based on the Binance Chain and Binance Smart Chain, BNB price can be sky rocketing in future, IMHO. 

My expectation is  even higher than this o I am still keeping BNB safe inside my non custodial wallet. I am not even taking the risks by placing the sell order of BNB to perform trade on the exchange 😂

@Whited35 There is a method for estimating the value of tokens: based on competitor's total capitalization. For example, BSC is a competitor of Ethereum, the capitalization of BNB will tend to fluctuate according to the capitalization of ETH. The same thing happens with CAKE & UNI.
It's good that you still keep BNB, many traders have regretted using BNB to pay transaction fees ^^

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The impact of binance to be burned that's amount of money must be positive because they have decrease the supply of the coin in order for it to have a demand.

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3 hours ago, joemcgwa said:

The impact of binance to be burned that's amount of money must be positive because they have decrease the supply of the coin in order for it to have a demand.

@joemcgwa Yeah, burning coins is the most common and simplest way to reduce the supply of tokens, causing tokens to rise in price. In addition, Binance's burning of the tokens of team members also shows that they are willing to share their profits and stick with the BSC ecosystem.
However, I know that their assets will still increase thanks to the increase in BNB price & profits from Binance CEX.

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12 hours ago, MrSpasybo said:

@joemcgwa Yeah, burning coins is the most common and simplest way to reduce the supply of tokens, causing tokens to rise in price. In addition, Binance's burning of the tokens of team members also shows that they are willing to share their profits and stick with the BSC ecosystem.
However, I know that their assets will still increase thanks to the increase in BNB price & profits from Binance CEX.

Im so sad because I've just missing that Binance coin bullish after I was just selling my BNB after the price touch to 300, I was just hoping maybe it might fall the price, but after three days it was turned to $500.

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Greetings my dear friend, thank you for sharing this information with us, I hope this burning is of benefit to all virtual currency traders.

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On 4/26/2021 at 11:28 AM, joemcgwa said:

Im so sad because I've just missing that Binance coin bullish after I was just selling my BNB after the price touch to 300, I was just hoping maybe it might fall the price, but after three days it was turned to $500.

@joemcgwa It's a pity, but you should know professional traders who have spent hundreds of BNB paying transaction fees on Binance for the sake of savings. They wasted a huge amount too ^^

 

2 hours ago, selfmade said:

But on the other hand isn't that a proof of weakness, why don't they just promote their coins to increase demand instead of burning supply, does that mean they have failed to promote the coin?

@selfmade Great question, mate!
Burning tokens are usually only short-term and part of token promotion strategy. This will give the holders more motivation to keep knowing that the token price will definitely be pushed up.
Burning tokens has become very popular and Binance is doing it quite well. And I believe that Binance exchange is the best BNB promotion channel in the world when it can reach hundreds of thousands of users in the crypto industry.

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6 hours ago, selfmade said:

But on the other hand isn't that a proof of weakness, why don't they just promote their coins to increase demand instead of burning supply, does that mean they have failed to promote the coin?

maybe they have burned the coin in order to attract investors, because investors also are interested with coins with low supply, so thats why binance reduce their supply and actually its gives positive impact for BNB to rise from $271 to $637 only in a month.

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Trade on Binance future trading, spot trading, cross margin, P2P and fiat trading, also earn up to 40% referral commission, Direct Link

SIGN UP ON BINANCE

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8 hours ago, joemcgwa said:

maybe they have burned the coin in order to attract investors, because investors also are interested with coins with low supply, so thats why binance reduce their supply and actually its gives positive impact for BNB to rise from $271 to $637 only in a month.

@joemcgwa You know, Binance only burned tokens after BNB price passed 600 USD. The impact of this token burn makes BNB's price less volatile during the recent correction.
Obviously it is an effective way of advertising as the whole market is interested in Binance's token burning event when they burned up to 80% of their profits in Q1 2021.

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I'm a real user of binance wallet, and i also like the binance coins, but i don't know about the development you shared, so this will make the BNB surge in the future after this stage, so we should take advantage of this situation and get the bigger part of BNB.

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21 hours ago, Powell said:

I'm a real user of binance wallet, and i also like the binance coins, but i don't know about the development you shared, so this will make the BNB surge in the future after this stage, so we should take advantage of this situation and get the bigger part of BNB.

@Powell In fact, this is not an announcement of the development of Binance or BSC, it is only related to recent token burning event of Binance to reduce supply of BNB in market to push BNB price up. If you already own BNB, congratulations. If not, you will have to pay more money to buy BNB from market ^^

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Regarding the analysts' forecast for the near future, as of the evening of 31 May, all of them (100%) voted for the dollar to strengthen. This forecast is understandable given the expected ECB decision on a rate cut on 06 June. But what if it doesn't happen? Or perhaps this forecast has already been priced into the market? In that case, instead of the dollar strengthening, we could see the opposite reaction.   All trend indicators on D1 are 100% green, while only 50% of oscillators are green, with 15% red and 35% neutral-grey.   The nearest support for the pair lies in the 1.0830-1.0840 zone, followed by 1.0800-1.0810, 1.0725-1.0740, 1.0665-1.0680, 1.0600-1.0620. Resistance zones are in the regions of 1.0880-1.0895, 1.0925-1.0940, 1.0980-1.1010, 1.1050, 1.1100-1.1140.   The upcoming week seems to be very eventful and volatile. On Monday, 03 June, and Wednesday, 05 June, the US Manufacturing and Services PMI data will be released. On 04, 06, and 07 June, there will be a slew of statistics from the US labour market, including Friday's crucial data on the unemployment rate and the number of new non-farm jobs (NFP). The most turbulent day of the week, however, is likely to be Thursday, 06 June. On this day, retail sales data for the Eurozone will be released first, followed by the ECB meeting. The market will be focused not only on the ECB's rate decision but also on the subsequent press conference and comments on future monetary policy.   GBP/USD: Foggy Times, Foggy Forecasts   We've previously written that the prospects for the British currency, as well as the national economy, look rather foggy. The Business Activity Index (PMI) showed a decline, and not just it. Much of the pessimism is related to the sharp drop in retail sales in April, which fell by 2.7% y/y compared to the previous growth rate of 0.4%. Additional uncertainty comes from the fact that snap parliamentary elections are scheduled for 04 July. Prime Minister Rishi Sunak stated that "economic instability is just the beginning." This sounds frightening, doesn't it? If this is just the beginning, what lies ahead? Surprisingly, despite this situation, the pound has been strengthening since 22 April. During this period, GBP/USD rose by 500 points and on 28 May recorded a local maximum at the round figure of 1.2800.   Regarding the timing of the Bank of England's (BoE) interest rate cut, everything also seems as foggy as the Thames mist. JP Morgan (JPM) analysts, while adhering to their forecast for a rate cut in August, warn that "the risks have clearly shifted towards a later reduction. The question now is whether the Bank of England will be able to ease its policy at all this year." Goldman Sachs, Deutsche Bank, and HSBC strategists have also adjusted their rate cut forecasts, moving the date from June to August.   GBP/USD ended the week at 1.2741. Economists at Singapore's United Overseas Bank (UOB) believe that the current strengthening of the British currency has ended. UOB considers that over the next 1-3 weeks, "the pound is likely to trade with a downward bias, but a more significant pullback would require breaking below 1.2670. On the other hand, if the pound breaks above 1.2770 (the 'strong resistance' level), it would indicate that it will likely trade within a range rather than pulling back lower."   The median forecast of analysts for the near term is as follows: 75% voted for the pair to move south, while the remaining 25% voted for a northward movement.   As for technical analysis, unlike the experts, all 100% of trend indicators and oscillators on D1 point north, although 15% of the latter signal overbought conditions. If the pair continues to fall, support levels and zones are at 1.2670-1.2700, 1.2575-1.2600, 1.2540, 1.2445-1.2465, 1.2405, 1.2300-1.2330. If the pair rises, it will encounter resistance at levels 1.2760, 1.2800-1.2820, 1.2885-1.2900.   No significant economic statistics are scheduled to be released in the UK next week.   USD/JPY: A Very Calm Week     The past week was surprisingly calm for the yen. USD/JPY moved within a super-narrow sideways channel of 156.60-157.00 for the first half of the week, but then, amid US data and Japanese macro statistics, the trading range expanded slightly to 156.36-157.70. Compared to the price swings at the end of April and early May, it's hard to believe this is the same currency pair. Interestingly, Japanese financial authorities have not officially confirmed whether they conducted intensive yen purchases on 29 April and 1 May to support its exchange rate. However, Bloomberg reports that comparing deposits at the Bank of Japan suggests that around ¥9.4 trillion ($60 billion) might have been spent on these currency interventions, a new monthly record for such financial operations.   However, if this $60 billion helped, it was only slightly – the dollar has already recovered half of its losses. Since interest rates in the US and Europe have not yet decreased, and the yen rate remains extremely low at 0.1%, officials from the Ministry of Finance and the Bank of Japan (BoJ) are trying to buy time until this gap starts to narrow. Comments from BoJ board member Seiji Adachi, who stated on 30 May that the Japanese central bank leaders could raise the interest rate, provided some support for the yen. However, the question of when this might happen remains open, and officials are reluctant to answer. In his traditional speech on Friday, 31 May, Japan's Minister of Finance, Shunichi Suzuki, reiterated that exchange rates should reflect fundamental indicators and that he would respond appropriately to excessive movements.   On Friday, 31 May, a block of important macroeconomic statistics on the state of the Japanese economy was released. The Consumer Price Index (CPI) in Tokyo showed that inflation rose to 2.2% y/y in May. In April, this figure was at 1.8%, matching a 26-month low. Core inflation in Tokyo also rose to 1.9% from 1.6% y/y, and the CPI excluding volatile food and energy prices increased from 1.8% to 2.2% y/y. (It should be noted that inflation in Tokyo is usually higher than the nationwide figures, which are published three weeks later. Therefore, the Tokyo CPI is a preliminary but not final indicator of inflation dynamics at the national level.)   The current rise in inflation could increase confidence in future BoJ monetary policy tightening. However, the fear of low inflation and a sharp yen appreciation deters the BoJ from raising the interest rate and narrowing the gap with other major global currencies' rates. A strong yen would harm national exporters. The decline in industrial production, which fell by -0.1% in April both month-on-month and year-on-year, does not encourage borrowing costs to rise.   The last note of the week for USD/JPY was struck at 157.25. United Overseas Bank (UOB) analysts believe that in the next 1-3 weeks, "the dollar has the potential for growth, but given the weak upward momentum, any advancement is likely to be slow. The 157.50 level might be difficult to overcome, and resistance at 158.00 is unlikely to be reached in the near future."   Speaking of the average forecast of experts, only 20% indicate a southward direction, while the remaining 80% adopt a neutral position and look east. Technical analysis tools show no such doubts or disagreements. Thus, 100% of trend indicators and oscillators on D1 point north, with 15% already in the overbought zone. It should be noted that if the green/north color of the indicators for the euro and the British pound indicates their strengthening, in the case of the yen, it conversely indicates its weakening. Therefore, traders may find it interesting to pay attention to the EUR/JPY and GBP/JPY pairs, whose dynamics have been impressive lately. The nearest support level is in the area of 156.25-156.60, followed by zones and levels at 155.50-155.90, 153.10-153.60, 151.85-152.35, 150.80-151.00, 149.70-150.00, 148.40, 147.30-147.60, 146.50. The nearest resistance is in the 157.40 zone, followed by 157.70-158.00, 158.60, and 160.00-160.20.   No significant events or publications regarding the state of the Japanese economy are expected next week. CRYPTOCURRENCIES: Bullish and Bearish Ethereum Prospects   For the second week, market participants' attention has been focused on the main altcoin. On 23 May, the US Securities and Exchange Commission (SEC) approved 19b-4 applications from eight issuers of spot exchange-traded funds based on Ethereum. (According to JP Morgan experts, this was dictated not by a desire to support digital assets but by a political decision aimed at supporting Joe Biden ahead of the US presidential elections.) Whatever the true reason for this regulatory move, everyone is now interested in where Ethereum prices will go. The newborn ETH-ETFs can only start trading after the SEC approves the S-1 applications. According to Bloomberg analyst James Seyffart, this could take "weeks or months," although it is very likely to happen in mid-June. According to DeFiance Capital CEO Arthur Cheong, Ethereum's price could rise to $4,500 even before trading begins. CCData analysts believe that within 100 days of the launch of ETH-ETFs, the price could reach $5,000 per coin. This forecast is based on linear regression and the price statistics of bitcoin after the launch of spot BTC-ETFs. CCData's analysis assumes that inflows into similar Ethereum funds will be at least 50% of inflows into Bitcoin-ETFs, which means about $3.9 billion over a 100-day period.   Popular analyst Lark Davis has forecasted future growth for bitcoin to $150,000 and Ethereum to $15,000, explaining such a sharp price increase by the emerging market dynamics. The main reason for growth, Davis also cites spot BTC-ETFs, to which ETH-ETFs will now join. This will further fuel the cryptocurrency market's enthusiasm. Currently, spot BTC-ETFs hold 1,002,343 coins (≈ $68 billion), which is about 5% of the circulating supply of the flagship asset. Davis believes this impressive figure clearly indicates growing recognition of cryptocurrency and interest from institutional investors, especially from the US.   Strike CEO Jack Mallers predicts that during the ongoing bull rally, bitcoin could reach $250,000 and possibly rise in price to $1 million. On a podcast with Pomp Investments founder Anthony Pompliano, Mallers explained his bold forecast by stating that bitcoin is still at an early stage of development. According to him, the bond market is currently facing problems, so central banks may inject a significant amount of liquidity into the financial system to stabilize it. This liquidity influx will trigger an increase in the value of risky assets, including the leading cryptocurrency.   Jack Mallers disagrees with the notion that bitcoin is a bubble or a tool for speculation. The asset is becoming increasingly popular among financial giants on Wall Street, and its limited supply of 21 million coins makes BTC highly resistant to inflation, unlike fiat currencies and gold. "Bitcoin can be called the hardest form of money – thanks to the fixed issuance schedule and halvings every four years. The release rate of new coins gradually decreases, thereby increasing bitcoin's long-term value," argued the Strike CEO.   Analysts from financial investment company Motley Fool also target a six-figure number. They suggested that bitcoin's rate could rise to $400,000 and possibly even reach $1 million. The reason, which has been mentioned many times, is the influx of money from institutional investors through spot ETFs. Motley Fool analysts noted that more and more pension funds and hedge funds, managing multi-billion dollar sums, are entering the bitcoin market. Thanks to cryptocurrency ETFs, they can easily include bitcoin (and soon Ethereum) in their investment portfolios.   According to analysts, around 700 investment companies have already invested in such funds. Nevertheless, the share of institutional investors in bitcoin-ETFs is currently only about 10% of the total. Motley Fool estimates that if financial institutions invest about 5% of their assets in bitcoin, the market capitalization of the first cryptocurrency could exceed $7 trillion, which explains its forecasted rate of $400,000.   Considerably less optimism was heard in the forecast of Bloomberg senior analyst Mike McGlone. According to him, bitcoin's volatility leaves it trailing gold and the US dollar in investment appeal. Furthermore, he believes that stocks will soon crash amid the expected recession, but BTC will suffer even more than the stock market. McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
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