Binance Under SEC Attack: The Impact on the Crypto Market

The value of Binance's exchange token, BNB, has experienced a 10% decrease following the news.

    The recent announcement that Paxos, a stablecoin issuer, has stopped issuing Binance Stable Coin (BUSD) has caused a major impact on the cryptocurrency market. Binance, one of the largest cryptocurrency exchanges in the world, was hit the hardest. BUSD was one of the largest stablecoins used on Binance, and its discontinuation has led to a decrease in Binance's market share, as users have started to move their assets to other exchanges.

The Binance exodus has begun

    The disappearance of BUSD has also raised concerns about the risk of liquidation for Defi protocols that operate on the Binance Smart Chain (BSC) network. Defi protocols allow loans with certain cryptocurrencies as collateral, and if the value of the collateral falls to a certain risk level, the algorithm can immediately liquidate it. This could lead to a chain reaction of liquidation in the BSC network, affecting not only Binance-related coins, but also other cryptocurrencies in the Defi ecosystem.

👉 You can view BNB chain based coins here.

👉 You can view coins that launched on Binance here.

Despite the adverse news, Defi coins have experienced a surge in value.

    However, the situation is not all negative. The recent developments are likely to increase the market capitalization of decentralized exchanges (DEX) and Defi cryptocurrencies. Decentralized exchanges, which are not operated by any central authority, are not subject to legal regulation, and as a result, they have become a more attractive option for users who are nervous about the increased regulation of centralized exchanges. Additionally, the recent shift in focus towards Defi staking, where users can receive coin interest, is likely to increase the popularity of Defi staking as a safe and secure way to invest in cryptocurrencies.

👉 You can view DEX coins here. 

👉 You can view Defi coins here.

    In conclusion, the disappearance of BUSD and the recent events involving Binance and the SEC are significant developments in the cryptocurrency market. While there are risks and uncertainties, the market will likely stabilize over time. In the meantime, it is recommended to be cautious about investing in BSC-based Defi coins or coins related to Binance, and to consider the risks involved.

👉 Join the Binance exodus and start trading on Bybit! Get a 20% discount on your trading fees with this exclusive link.

Today's P&L (February 13, 2023)

  

Trading P&L: 260.54$

Trading fee rebate received: 6.5$

Total P&L: 267.04$

If you want to receive a trading fee rebate while trading every day like me, go to the this link to sign up to Running Fox or if you need a detailed guide on how to sign up, check this post.

How to Earn Crypto Interest with Bybit Savings

    Cryptocurrency trading has become increasingly popular in recent years, and many people are looking for new ways to make the most of their investments. One option that has emerged is earning interest on cryptocurrency holdings. This is possible on many exchanges, including Bybit. In this blog post, we'll show you how to earn interest on your cryptocurrency with Bybit Savings.

    Before you can start earning interest with Bybit, you'll need to have a Bybit account and have completed the KYC verification process. If you haven't created an account yet, you can sign up through this link and receive a 20% discount on trading fees.

Step 1: Log in to your Bybit account

Step 2: Navigate to Finance > Earn > Bybit Savings in the top menu bar

Step 3: Scroll down to see the list of coins that pay interest and the current annual interest rates. As of this writing, Bybit offers interest on Bitcoin, Ethereum, USDC, and other coins.

Step 4: If you have the coins you want to earn interest on in another exchange, withdraw them to Bybit.

Step 5: Click "Select" next to the coin you want to earn interest on.

Step 6: Review the interest rates for different deposit periods. For example, with Bitcoin, you may have the option to earn 1.5% interest on a 30-day deposit, 1.8% interest on a 60-day deposit, or 1.5% interest for a deposit that can be withdrawn at any time.

Step 7: Click "Stake Now" next to the deposit plan you want to choose.

Step 8: Transfer the coins you want to deposit to your Earn wallet.

Step 9: Enter the amount you want to deposit, and confirm the deposit information, then click "Stake."

    Once your deposit is complete, your coins will start earning interest at the rate you selected. Please note that some deposit plans have restrictions on withdrawals, so be sure to read the terms and conditions carefully before making your deposit.

    In conclusion, earning interest on your cryptocurrency is a great way to make the most of your investment. Bybit Savings makes it easy to earn interest on your crypto holdings, so why not give it a try today?

   👉 Register on Running Fox and receive a 30% trading fee rabate

   👉 Sign up to Bybit and enjoy a 20% reduction in trading fees

Why You Should Try Scalp Trading

    Are you tired of watching the cryptocurrency market and feeling like you're missing out on profits? Do you often find yourself wondering why others seem to make money from trading coins, but you can't seem to make a dime? If so, you're not alone. Many people struggle with cryptocurrency trading and feel like they're missing out on the opportunity to make money.

    However, the key to successful cryptocurrency trading is not to try and hold onto coins for a long time, but to adopt a different trading strategy: scalp trading.

    Scalp trading involves taking advantage of short-term market movements to make small profits over a short period of time. Unlike swing trading, which involves holding onto coins for a few days to a few weeks, scalp trading requires quick thinking and quick execution.

    Many people who struggle with cryptocurrency trading fall into one of two categories:

    Type A: They never sell their coins and hold onto them until they die.

    Type B: They follow the "fire and forget" strategy and only buy coins when they are climbing in value.

    While this approach may work in a bull market, it can be disastrous in a bear market. Holding onto coins for a long time can result in substantial losses, especially when the market is experiencing a downturn.

    On the other hand, scalp trading allows you to take advantage of both the ups and downs of the market. While profits may be slightly lower during a market upturn, they are protected during a market downturn. The key to successful scalp trading is to keep losses small and lock in profits quickly.

    The ultimate goal of investment is to not lose money, and scalp trading offers an easy way to achieve this goal. If you're feeling frustrated with your cryptocurrency trading results, give scalp trading a try and see if it's a better fit for your investment style.

   👉 Register on Running Fox and receive a 30% trading fee rabate

   👉 Sign up to Bybit and enjoy a 20% reduction in trading fees

Today's P&L (February 9, 2023)

 

Trading P&L: 85.23$

Trading fee rebate received: 6.3$

Total P&L: 91.53$

If you want to receive a trading fee rebate while trading every day like me, go to the this link to sign up to Running Fox or if you need a detailed guide on how to sign up, check this post.

The Three Best Crypto Websites for Wise Investment Choices

    Making the right investment decisions in the world of cryptocurrencies can be a challenge, but the right tools can help you navigate the markets with confidence. In this blog post, we'll introduce you to three of the best crypto websites that will help you make wise investment choices.

1. CoinMarketCap

https://coinmarketcap.com

    CoinMarketCap is a website that provides a comprehensive overview of the cryptocurrency market. With up-to-date information on market capitalization, coin supply, and much more, it's a valuable resource for anyone looking to invest in cryptocurrencies. The website is easy to navigate, and you can quickly find information on the coins you're interested in by searching for the coin by name or ticker. Once you've found the coin you're interested in, you can view its details and learn about the coin's development, its white paper, and much more.

2. Drops Tab

https://dropstab.com

    DropsTab is another great website for those looking to invest in cryptocurrencies. Like CoinMarketCap, it provides a comprehensive overview of the market, including market capitalization rankings, but its real value lies in the coin details it provides. On DropsTab, you can view information on the coin's fundraising, including the number of investments received, the price of coins sold, and the rate of return compared to the current price. You can also view a list of the coin's investors and learn about the coin's vesting, including how much lock-up is available, when it will be released, and how much the investors bought the coin for.

3. ICODrops

https://icodrops.com

    ICODrops is a website dedicated to Initial Coin Offerings (ICOs). An ICO is an opportunity for you to invest in a coin before it is released, and ICODrops provides you with all the information you need to make an informed decision. On the website, you can view information on active, upcoming, and ended ICOs, and you can also view a list of rated ICOs to help you find the best investment opportunities.

    In conclusion, these three websites will provide you with all the information you need to make wise investment decisions in the world of cryptocurrencies. Whether you're a seasoned investor or a newcomer, these websites will help you stay informed and make the most of your investments.

   👉 Register on Running Fox and receive a 30% trading fee rabate

   👉 Sign up to Bybit and enjoy a 20% reduction in trading fees

What are Trading Bots and How You Can Use Them on Bybit

    Trading bots are automated trading algorithms designed to trade cryptocurrencies on behalf of their users. They have become increasingly popular in recent years due to their ability to help traders automate their trading strategies, reduce the time they spend monitoring the market, and make trading decisions based on objective criteria. In this blog post, we will explore what trading bots are and how you can create and use them on Bybit.

What is a Trading Bot?

    A trading bot is a computer program that uses mathematical algorithms and market data to automate the trading process. The main goal of a trading bot is to execute trades on behalf of its users based on pre-defined criteria and rules. Trading bots can be programmed to follow a wide range of strategies, including market-making, scalping, swing trading, and others. They can also be programmed to execute trades based on technical indicators, price patterns, and market data.

Types of Trading Bots on Bybit

    Bybit offers three different types of trading bots: spot grid bots, DCA bots, and futures grid bots. Each type of bot is designed to cater to a specific type of trading strategy.

1. Spot Grid Bots

    Spot grid bots are designed for traders who want to implement grid trading strategies in the spot market. These bots help traders to buy low and sell high using grid-based entry and exit strategies.

    As an example, let's say the current price of Bitcoin is $22,000, and you have invested $1,000 with the following settings: an upper price of $24,000, a lower price of $20,000, and four grids. If the price of Bitcoin drops to $20,000 and then rises to $24,000, the bot would execute the following trades:

A. Buy Bitcoin at $21,000 for $500

B. Buy Bitcoin at $20,000 for $500

C. Sell half of the Bitcoin at $23,000

D. Sell the remaining Bitcoin at $24,000.

Note: This is a simplified example, and actual trading results may vary depending on market conditions and other factors.

2. DCA Bots

    DCA bots are designed for those who want to trade using the dollar-cost averaging (DCA) strategy. This strategy involves buying a fixed dollar amount of an asset at regular intervals, regardless of the asset's price. The goal of a DCA bot is to help traders average out their entry price over time and reduce the impact of market volatility on their investments.

3. Futures Grid Bots

    Futures grid bots are designed for futures traders who want to trade using grid trading strategies. These bots can help traders execute trades based on predefined criteria, such as price levels and order size.

How to Create and Use Trading Bots on Bybit

    Bybit makes it easy to create and use trading bots. To get started, simply sign up for a Bybit account(Sign up to Bybit with this link to get a 20% discount on trading fees), log in to the trading bot platform. and go to the Trading Bot section. 

    From there, you can create a new bot, select your preferred strategy, and customize your bot's parameters to suit your trading needs.

    Once you have successfully set up your bot on the Bybit platform, you will have the ability to take advantage of its advanced features and customization options. With a highly flexible interface, you have the ability to adjust your bot's settings at any moment, ensuring that it is always working to meet your specific needs and goals.

    In conclusion, trading bots are a valuable tool for traders who want to automate their trading strategies and save time. Bybit offers a user-friendly trading bot platform that makes it easy to create and use trading bots, regardless of your trading experience. Whether you are a seasoned trader or just starting out, Bybit's trading bots can help you maximize your profits and minimize your risks.

   👉 Sign up to Bybit and enjoy a 20% reduction in trading fees