Bitcoin recently reached $92,000, with cryptocurrencies anticipating the opening of U.S. markets. Meanwhile, Meta’s announcement to curtail Metaverse expenses bolstered stock prices but was painful for the Metaverse narrative. Concurrently, at Binance Blockchain Week, CZ made notable remarks.
Binance Discusses Strategies and Relationships
Binance, the world’s leading cryptocurrency exchange by volume, has played a pivotal role in introducing investors to altcoins. Despite the initial regulatory ambiguities, the team adeptly navigated grey areas to contribute significantly to the evolution of the crypto industry.
CZ addressed key topics today, highlighting that holding Bitcoin remains one of the best strategies, outperforming new startups by 99%. He also clarified that no collaboration exists with Trump’s family. CZ mentioned he does not see the need for Binance to return to its daily operations, believing it aids in the development of the BNB blockchain ecosystem.
So, following Trump’s pardon, CZ is not returning to the exchange. Instead, Yi He and the new CEO will fulfill similar roles. Though not returning to Binance, CZ has made a comeback to the crypto scene.
After his release, CZ indicated a shift toward focusing on an educational platform and less on crypto. However, his recent discussions revolve prominently around cryptocurrencies. Renowned in the field, CZ’s return is welcomed. His actions during the Aster launch, reminiscent of former days, notably impacted Aster’s price, elevating it. This support also boosted Binance Smart Chain’s on-chain activity.
Fluctuations in Aster Coin
Shifting focus to Aster, it’s currently less popular, with its price hitting lows not seen for 27 days this month. After dipping to $0.88, it reclaimed the $1 benchmark and may test resistances at $1.15 and $1.28. For a new all-time high, surpassing $1.39 and $1.58 is crucial.
As for on-chain stats, the Total Value Locked (TVL) fell from a $2 billion peak to $1.35 billion, yet recent stabilization is positive. Liquidity and fee earnings weakened but have not continued their decline.
The cessation of on-chain declines is seen positively, although we are far from the excitement of its launch days. (Source: DefiLlama Data)