Crypto Market Overview
BTC retreats from all-time-high, altcoins correct as well
Following last weekâs all-time-high for Bitcoin and the resurgent cryptocurrency industry, this week marked a period of market correction for digital assets. Bitcoin was still above $19,000 for most of Saturday to Tuesday, before two major falls sent the price as low as $17,900 on Wednesday and then $17,640 on Friday, before closing the week at barely above $18,000.
Most of the altcoin market also reflected Bitcoinâs slight decline. Ethereum Fell from $590 to as low as $570 on Saturday, before recapturing $600 on Sunday After a sideways market for most of the week, Ethereum sank to $540 on Wednesday and ended the week at $550. Meanwhile, BNB was mostly at the $20 to $30 range to start the week, before dropping to as low as $26.80 on Friday before recovering to $27.30 to close the week.
This weekâs market correction was also reflected in the crypto industryâs total market cap, which ranged between $548 billion and $575 billion for most of the week, before falling to as low as $520 billion on Friday.
For more crypto-related news and updates, head over to the Binance News service. We now move to updates from the Binance ecosystem and beyond.
Binance Smart Chain Updates
1. New on Binance Smart Chain: Chainlink Oracles. Binance Smart Chain (BSC) has successfully integrated the Chainlink decentralized oracle network on its mainnet as its recommended oracle solution. As a result, Chainlink is now available for use by any and all BSC smart contracts.
2. UPDATE: $100M Accelerator Fund Supports 2 More Projects. We are proud to announce that Blink and Tenderly blockchain projects will receive funding from Binance as part of the $100 million accelerator fund. See the most recent BSC landscape below.
3. Build for Bharat: Top 100 Startups. Build for Bharat, a twofold program with Hackathon and Acceleration opportunities, has now reached its shortlisting phase. The BSC team and its partners have shortlisted 100 startups from the 350+ that have applied for the program.
From the Binance Team
4. Highlights From CZâs Fireside Chat with Michael Saylor. Read on for some top highlights from their chat, or watch the full hour-long conversation on our Youtube channel, and subscribe for future segments with leaders in the blockchain and financial services space.
5. Two Binancians on Bloomberg 50. Binance CEO CZ and Africa PR Lead Damilola Odufuwa were recently recognized on the 2020 Bloomberg 20 list. BehindDamilola and CZ, whose work has been honored in this influential ranking list, is a team of passionate people who are working towards the betterment of society.
6. Crypto Versus Big Tech: BTC, ETH, & XRP vs. AAPL, AMZN, & GOOGL. Despite their growth, the three largest cryptocurrencies are still dwarfed by tech giants like Apple, Amazon, and Google, which are each valued at over $1 trillion. Read our report to learn more.
7. Introducing #CryptoGurukul - Promoting Crypto Awareness in India. The Binance Crypto Gurukul program will provide a platform filled with curated learning materials from Binance Academy, which builds our in-house learning repository of crypto and blockchain learning resources.
Binance Exchange Updates
8. Binance Pool, Now a Top 3 Mining Pool.Less than eight months after its launch, Binance Pool climbed the mining pool rankings quickly. From a top-10 position, Binanceâs mining pool platform is now the third-largest in the world. Thank you so much for your support.
9. Binance Launches Combined Convert & OTC Trading Portal.The new Convert & OTC Trading Portal is a live request for quotation (RFQ) platform in which you can now easily convert 40 different assets. Once trades are confirmed, you will receive quick settlement directly into your Binance account. Zero trading fees will be charged.
10. NEW INNOVATION ZONE LISTINGS: Aavegotchi (GHST), COVER Protocol (COVER), and dForce (DF)
11. NEW TRADING PAIRS: LINK/BRL, LINK/NGN, LTC/RUB, TRX/TRY & XLM/EUR
12. Earn up to 12% APY on DUSK, EGLD, EUR, and WAVES with Binance Savings
13. Binance Pool launches the 20th phase of Dual Savings products for BTC, USDT, and BUSD.
15. Binance supports the following blockchain updates: Theta Network token upgrade
16. Binance Loans adds borrowable asset GBP and collateral asset EUR.
Binance Futures/Options/Margin Updates
17. 5 Best Performing Binance Leveraged Tokens in 2020. 2020 has been a phenomenal year for cryptocurrencies. Year-to-date, cryptocurrencies have outperformed most traditional asset classes, as the entire cryptocurrency economy grew over 180% since the start of the year.
Binance Futures launches TRX, ETC, FIL Quarterly 1225 & 0326 Coin-margined contracts with up to 75X leverage.
19. AKRO, MTL & SKL Enabled on Binance solated Margin
20. Margin Trading for GBP, SUSHI, & DCR Enabled on Binance
Binance adjusts BLVT target leverage range to 1.25x - 4x. We will also list SUSHIUP, SUSHIDOWN, XLMUP, and XLMDOWN.
22. NEW USDT-Margined perpetual contract: SKL/USDT, with up to 50X Leverage
Binance Ecosystem Updates
23. Binance Charity, IoTeX Partner to Donate Staking Rewards. BCF and IoTeX are excited to partner on a new initiative to donate blockchain staking rewards for charity. Binance Charity will host a delegate node on the IoTeX Network, whereby IoTeX stakers can directly support charitable causes by voting for the BCF node.
Binance Academy âs newest articles:
25. Binance Research âs newest reports:
Binance Fiat/Stablecoin/BNB Updates
26. Binance Opens New Fiat Option for South Africa via Silvergate. We have just launched a brand new fiat funding option for Binance users in South Africa. The new channel will act as both a fiat on- and off-ramp, allowing you to deposit and withdraw funds to/from your Binance account using your local bank account.
28. Send and receive EUR instantly 24/7 through SEPA Instant! This service is available to use 24/7, enabling users to instantly deposit EUR from their SEPA bank accounts to their Binance accounts, and instantly withdraw EUR from the Binance account to the SEPA bank account.
Promos and Community
29. NEW: DUSK Trading Competition - $75,000 in Rewards to be Won! Binance and Dusk Network have committed a total of $75,000 in DUSK tokens as prizes to celebrate Dusk Networkâs recent share acquisition of Dutch Stock Exchange NPEX.
30. ONGOING: 6th Binance Learn & Earn Series: A Total of $20,000 in $IDEX to be Given Away! All Binance users can learn about IDEX and earn up to $20 equivalent in $IDEX. In total, we're giving away $20,000 in $IDEX.
31. ONGOING: Binance P2P Launches Lucky Thursday Promo - $10,000 in Prizes. Binance P2P has launched Lucky Thursday promotions for December to reward P2P traders for their support. Starting December 10, 2020, P2P traders can participate in the promotions on each Thursday in December to win multiple prizes!
32. ONGOING: Welcome Bonus Program â promo runs until the end of this year.
33. ONGOING: Swipe and Binance Card Holiday Promotion - Up to 100,000 SXP to be Won! Binance and the Swipe team have committed up to a total of 100,000 SXP in rewards to celebrate the introduction of the Binance Card to users in the EEA region and the upcoming Christmas season.
34. COMPLETED: Coin-Margined Futures ROI Trading Competition Has Now Concluded
35. COMPLETED: Binance Black Friday Campaign Has Now Concluded
36. COMPLETED: Ethereum Block Hash Lottery - Win up to 10,000 BUSD
37. COMPLETED: MobileSEArge - The Biggest Southeast Asia Mobile Challenge
38. COMPLETED: Buy Crypto on Binance P2P to win an iPhone 12.
39. COMPLETED: Trading competitions for FOR and BEL
Thatâs a wrap for the past week. Follow us on Twitter, Instagram, Facebook, and YouTube, and join our official Binance Telegram group to talk more with our community.
