Crypto Market Overview
BTC falls 5% this week amid events in the U.S.
Last weekend, Bitcoin (BTC) continued its sideways movement at around $10,700 on Saturday and Sunday, before rallying to $10,950 on Monday. However, due to recent news about the U.S. CFTC’s action against a major exchange and President Trump’s positive COVID-19 test, Bitcoin sank to a weekly low of $10,420 on Friday.
The price movement for Ethereum (ETH) echoed Bitcoin’s, with weekend sideways movement of $350 and a slight growth to $360 on Monday, followed by a drop to $337 on Friday. Meanwhile, BNB started its rally early Saturday morning at $24.47 and continued to grow until reaching a weekly high of $29.55 on Thursday, before closing the week at $27.38.
The total market capitalization of the cryptocurrency industry began this week at $337 billion, skyrocketed to $349 billion on Thursday, then decreased to $329 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 Exchange Updates
1. Double Launch: Binance Brings In Alpha Finance Lab. On Friday, we announced our latest support for Alpha Finance Lab on Binance Launchpad and Launchpool platforms.
2. Binance Launchpool Introduces Venus Protocol. Binance Launchpool announced a new project: Venus Protocol, an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto Binance Smart Chain.
3. NEW Listings:
- October 2: UTRUST (UTK)
- September 30: Orion Protocol (ORN)
- September 29: BSC Projects, CAKE, and SPARTA nowin the Innovation Zone
4. NEW Trading Pairs: TRX/NGN & SXP/TRY, added on October 1
5. Updates to the Binance Savings API on September 28
Binance Brokerage Program Upgrade. Margin trading and liquid swap are now available for Binance brokers. Brokers are now able to create unlimited amounts of sub-accounts through the broker API for margin trading and liquid swap.
7. Cross Margin trading for UNI enabled on Binance. Enjoy new cross margin pairs UNI/BTC and UNI/USDT with zero-interest promotion on borrowing until October 4.
8. Binance Pool Launches Tenth Phase of Dual Savings Products
9. EUR, EGLD & JST added to Savings Products on Binance
10. Binance Loans adds four tokens as borrowable assets:
- STORJ (October 2)
- SXP (September 29)
- ONT and JST (September 28)
11. Binance completes the Enigma (ENG) to Secret Network (SCRT) token swap.
13. Binance discontinues Flexible Staking, effective October 1. Final earnings will be paid before October 20, 2020.
Binance Futures and Options Updates
14. Binance Futures 1st Anniversary Competition ends next week, 6 October, 00:00 AM (UTC). There are only a few days left, so push your team and increase your chances of winning.
15. NEW USDT-Margined Perpetual Contracts (With up to 50x leverage)
- ENJ/USDT (opened September 29)
- FLM/USDT (opened September 29)
- HNT/USDT (opened September 28)
Binance Ecosystem Updates
16. The Panama Project: Making One-Click Cross-Chain Connection Possible. Through the Panama Project, which is part of our bigger Token Canal Project, we will leverage the bridging services of Binance Smart Chain (BSC) for cross-chain asset circulation and to truly realize a connected blockchain world.
17. Binance Smart Chain works with Cartesi and CertiK. Cartesi will provide a decentralized Linux environment for dApps, while CertiK will launch security offerings.
18. Get started on Binance Smart Chain in 60 seconds with our article and learn how to create your own Binance Smart Chain Wallet.
19. The Binance Visa Card launched a few new and highly anticipated features and we will continue to add more to make your experience even better. Read more in our Binance Visa Card Update from October 2.
20. Latest news from Swipe:
- Swipe Governance mainnet launches.
- SXP staking now activated on Trust Wallet.
- Swipe cards will be migrated to Binance Card.
For more updates about Swipe, check out their latest monthly update.
Binance Academy’s newest articles:
- What are cookies? It’s hard to navigate the internet these days without cookies. But do you know what cookies are?
- What is a decentralized exchange (DEX)? Learn about DEX and discover if it’s for you.
Binance Research publishes reports on the following crypto projects: Utrust, Secret Network, Orion Protocol, PancakeSwap, Spartan Protocol, Alpha Finance Lab, and Venus
BNB, Fiat, and Stablecoin Updates
23. Buy Crypto with credit/debit cards Using CAD. Deposited fiat is credited to your Binance account in seconds and can then be traded through the fiat trading pairs.
Zero maker fee promotion for EUR trading pairs on Binance. From October 1 to 16, we will be offering a Zero Maker Fee promotion that will apply to all existing and future EUR base trading pairs until October 16.
25. Binance P2P now supports Bolivian Boliviano (BOB) and Paraguayan Guarani (PYG)
From the Binance Team
Real Crypto Stories From Binance Users Around The World - Highlights from #MyCryptoLife. Got a crypto success story of your own, like the ones featured here? Tag us on Twitter and share your crypto story using the hashtag #MyCryptoLife.
27. Guest Post: This Gandhi Jayanti Day, Be The Change You Want To See. Read our latest article from the Indian community and learn about the father or this inspiring nation.
Promos and Community
28. ONGOING: 25,000 THB Binance P2P Video Tutorial Competition. Binance P2P presents a video competition for our Thai crypto community.
29. ONGOING: 30,000 UGX Cashback Promo: Sign Up and Trade. Deposit at least 200,000 UGX, buy BTC, BNB, ETH, BUSD, USDT, XRP until October 12 to join.
30. ONGOING: BAKE Trading Competition - $80,000 to be Won! The promo is launched to celebrate the listing of BSC project BakeryToken in the Innovation Zone.
31. COMPLETED: Binance Learn & Earn Recap and Quiz: $20,000 FIO Giveaway (ended September 29)
That’s 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.
