Crypto Hebdo: From Binance’s Removal Of USD To The Arrival Of The Merge, Tops, Flops And Perspectives

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

Day D-3 of The Merge of Ethereum

The biggest crypto event since Bitcoin’s Taproot is not far off. To be precise, we are exactly 3 days away from the merger at the time of writing this article. Last week, The Merge kicked off with the activation of the Bellatrix update. The event is completed when the Terminal Total Difficulty (TTD) reaches the value of (5875500000000000000000). According to the project developers’ estimates, the TTD should reach this level between 14 and 16 September.

The migration from Ethereum to the PoS consensus mechanism should make the project more attractive. According to the Ethereum Foundation, energy consumption should decrease by more than 95%. A Chainalysis survey also reveals that institutional players with The Merge’s background started adopting cryptocurrency. Indeed, the analysis firm has found that addresses over a million dollars have risen sharply after 12 months.

Read the following article for more information:

: 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 horrific fall in the month of May. In 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. Specifically, during the week, Binance announced the launch of LUNC futures contracts with leverage of up to x25.

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

Read the following article for more information:

: Exchanges add LUNC token left for dead, fueling asset rise

Binance is scrapping other stablecoins on its platform

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

“Once the automatic conversion is completed, users will be able to withdraw USDC, USDP or TUSD in a 1:1 ratio from their BUSD balance.”

When the measure goes into effect, 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 .”

Read the following article for more information:

: Binance Removes USD Coin, USDC Converts to BUSD

Whale threatens to make Shiba Inu dive

Struggling with the bear market backdrop, the memecoin ecosystem is in shock. According to information shared by Etherscan, a whale is said to have withdrawn 741 SHIB to hand them over to exchanges.

Nearly 169 billion tokens have already been moved to a Binance account. Which means the whale would aim for $1.87 million based on the current crypto price.

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

Read the following article for more information:

: Binance Removes USD Coin, USDC Converts to BUSD

Top and flops: Terra Classic leads rise in crypto sector

After almost a seesaw performance in 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 in the past 7 days.

Within this bullish movement, the Terra Luna ecosystem projects have been the best performers. According to the data given, the price of LUNC was 70.07% in a time frame of 7 days. The price of Terra Classic USD also rose 73.14% during the week. The implementation of the combustion process has really enabled the ecosystem.

The Ravencoin project is the other top 100 crypto that has caught the attention of investors. The price is up 53.13% in the last 7 days.

These are the tops and flops of the week

tops:

cryptos current course Profit in 7 days
TerraClassic USD (USTC) $0.05187 73.14%
Luna Classic (LUNC) $0.0004096 70.07%
Raven Coin (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

Outlook for crypto market

The crypto market recovered after 21 days of mixed performance. The context of The Merge’s arrival has just breathed new life into digital assets. But how far? Michaël Van de Poppe seems to have provided an answer to this question. The expert said on his Twitter account:

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

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