Binance Coin (BNB) has hit new all-time highs against Bitcoin (BTC) as excitement grows over the crypto’s future role on Twitter. Binance Coin sets new record against BTC Data from Cointelegraph Markets Pro and TradingView confirms that BNB/BTC briefly spiked above 0.15 BTC to a record 0.15267 BTC on Oct. 30. The in-house token of Binance, the largest crypto exchange by volume, has gained around 10% in the past 72 hours. The strong performance came on the back of reports that Binance was preparing to assist Twitter eradicate bots as part of its new direction under Elon Musk. Binance had …

The 10-year Treasury yield in the United States rose to its highest level since 2008. Although this type of rally is usually negative for risky assets, the U.S. stock markets recovered ground after the Wall Street Journal reported that some officials of the Federal Reserve were concerned about the pace of the rate hikes and the risks of over-tightening. While it is widely accepted that the U.S. will enter a recession, a debate rages on about how long it could last. On that, Tesla CEO Elon Musk recently said on Twitter that the recession could last “probably until spring of …

The lack of a decisive catalyst and the strength in the United States dollar index (DXY) has kept the recovery of risky assets under check. Bitcoin (BTC) remains stuck inside a tight range, searching for that elusive breakout. The longer the time Bitcoin spends inside the range, the greater will be the eventual breakout from it. The short-term uncertainty in cryptocurrencies does not seem to have altered the long-term view of institutional investors. BNY Mellon CEO Robin Vince said that a survey commissioned by the bank showed that 91% of institutional investors were keen to invest in some type of …

The United States equities markets have made a bullish start to the new week. The S&P 500 is up about 2.60% and the Nasdaq Composite has rallied more than 3%. This indicates that the markets have shrugged off September's high inflation reading and shifted focus onto the third-quarter earnings. The stock market’s recovery could pave the way for Bitcoin (BTC) to break out of the range it has been stuck in for the past several days. A positive sign for the bulls is that the amount of Bitcoin held in cold storage or lost has risen to a five-year high, …

BNB Chain, the native blockchain of Binance Coin (BNB) and the Binance crypto exchange, has been subject to security-related developments over the last month. On Thursday, Oct. 6 the network experienced a multi-million dollar cross-chain exploit. The incident caused BNB Chain to temporarily suspend all withdrawal and deposit activity on the network. Initially, the announcement of the network outage cited “irregular activity” with an update stating it was “under maintenance.” As rumors were confirmed the CEO of Binance, Changpeng Zhao tweeted out an apology for any inconvenience to the BNB Chain community. However the suspension was brief, as the BNB …

The United States consumer price index (CPI) increased 8.2% annually in September, beating economists’ expectations of an 8.1% rise. The CPI print lived up to its hype and caused a sharp, but short-term increase in volatile risk assets. The S&P 500 oscillated inside its widest trading range since 2020 and Bitcoin (BTC) also witnessed a large intraday range of more than $1,323 on Oct. 13. However, Bitcoin still could not shake out of the $18,125 to $20,500 range it has been stuck in for the past several days. Both the U.S. equities markets and Bitcoin tried to extend their recovery …

Crypto exchange platform Binance has concluded its 21st quarterly Binance Coin (BNB) burn, eliminating around $547 million worth of BNB tokens from its supply. In an announcement, Binance said that it had destroyed a total of 2,065,152 BNB tokens which is valued at just below $600 million at the time of writing. The exchange also mentioned that an added 4,833.25 BNB was burned through its Pioneer Burn Program, a mechanism that helps users who lost their digital assets through honest mistakes. The exchange covers these losses and returns the tokens to users, depending on specific conditions. These tokens are then …

The United States Federal Reserve has been aggressively hiking rates in an attempt to cool down inflation and that has kept the U.S. equities markets under pressure. Investors have been closely watching the inflation figures for early signs of topping out but to no avail. Wholesale prices rose 0.4% in September, exceeding the Dow Jones' estimate for a 0.2% gain. This suggests that inflation is yet to respond to the Fed’s monetary tightening. All eyes will now be fixed on the consumer price index data to be released on Oct. 13. Equity traders can expect volatility to pick up following …

The United States equities markets have started the week on a weak note as investors remain unconvinced that the Federal Reserve will pull back its aggressive monetary policy. The Nasdaq Composite index fell to its lowest level since September 2020. All eyes will be fixated on the U.S. Consumer Price Index data for September to be released on Oct. 13 as that could influence the Fed’s decision on the size of the rate hike in the next meeting in November. Depending on how the market perceives the reading, legacy markets and the cryptocurrency markets may witness a pick up in …

The United States nonfarm payrolls increased by 263,000 in September, marginally below the Dow Jones estimate of 275,000, but the unemployment rate dropped to 3.5% compared to the forecast of 3.7%. Some analysts believe the report shows that the jobs market remains strong in spite of the Federal Reserve’s efforts to slow down the economy and that could encourage the Fed to go ahead with another aggressive rate hike in its next meeting in November. This led to a sharp fall in the U.S. equities markets on Oct. 7. Although Bitcoin (BTC) has traded in close correlation with the U.S. …

The United States equities markets have been under a firm bear grip for a large part of the year. The S&P 500 and the Nasdaq Composite have declined for three quarters in a row, a first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on track to record its worst September since 2002. These figures outline the kind of carnage that exists in the equities market. Compared to these disappointing figures, Bitcoin (BTC) and select altcoins have not given up much ground in September. This is the first sign that selling …

The S&P 500 fell for six days in a row and made a new year-to-date low on Sept. 27, but Bitcoin (BTC) maintained its outperformance and stayed well above its June low. This could be a positive sign because several times, markets that show strength on the way down are the ones that outperform in the event of a recovery. The United States equities markets rebounded sharply on Sept. 28 after the Bank of England announced a bond-buying program and the U.S. Treasury yields pulled back from multi-year highs. As this occurred, strong buying in Bitcoin took place, but BTC …