Crypto Market Overview: Major Correction
Bitcoin started the week with a continued rise from $55,000 to $58,200 over the weekend. However, a week-long crash followed, with BTC hitting as low as $44,700 on Friday before ending the week at $47,600.
Ethereum hit $2,000 for the first time ever on Saturday, but soon after followed BTC’s weekday fall, plummeting to as low as $1,414 on Friday before rebounding to $1,500 to close the week. A similar pattern emerged from BNB, which fell from a high of $336 on Saturday to as low as $207 on Wednesday, before settling at around $230 by the end of Friday.
The total crypto market cap reflected this weekend rise and weekday downfall in the markets. The market cap grew from $1.66 trillion to $1.77 trillion on Sunday, before falling to as low as $1.35 trillion 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. 1inch Exchange joins Binance Smart Chain. We’re thrilled to see such a prominent project to join BSC, and we’re looking forward to our future collaboration.
2. Binance Smart Chain Token Allowance Checker. Each time anyone tries to use a new decentralized application (DApp) on Binance Smart Chain, you need to give this DApp an allowance for it to spend your tokens on your behalf.
3. Binance Smart Chain Mainnet Lagrange Upgrade Complete. Binance Smart Chain Mainnet has completed its upgrade and the services have been stable since February 25. The full announcement is here.
4. Binance Chain Mainnet Lagrange Upgrade has been completed two days prior, on February 23. The full announcement is here.
5.Completed scheduled maintenance on Binance Chain Explorer and Binance Chain Accelerated Nodes. Everything went smoothly and according to the plan and both updates were completed by February 25.
6. PNetwork BTC bridge now live on the Binance Smart Chain. PNetwork, a cross-chain composability system that allows assets and Non-Fungible-Tokens (NFTs) to move freely between blockchains, has been successfully integrated on the Binance Smart Chain (BSC) mainnet.
Binance Exchange Updates
7. Liquid Swap 3.0: Earn BNB Rewards and Boost Your Earnings in 2021! We announced Liquid Swap 3.0 this week with some new updates to boost your earnings even more. Try Liquid Swap 3.0 and get triple income as a liquidity provider (interest + trading fees + liquidity rewards) and start earning liquidity rewards in BNB and other digital assets
8. NEW TRADING PAIRS: 1INCH/BUSD, BAND/BUSD, GRT/BUSD, IOST/BUSD, OMG/BUSD, REEF/BUSD, DOT/GBP, ADA/TRY, ADA/BRL, and ADA/GBP
9. NEW LISTINGS: AC Milan Fan Token (ACM)
10. NEW IN THE INNOVATION ZONE: Phala Network (PHA), UniLend (UFT), Terra Virtua (TVK).
11. Buy CAKE and ADA with 15 fiat currencies: AUD, BRL, CLP, EUR, GBP, HKD, KES, MXN, NGN, PEN, RUB, TRY, UAH, UGX, and USD.
12. Binance Pool to upgrade its ETH mining system on March 1, from 8 AM to 9 AM UTC. After this upgrade, Binance Pool will not support users who use proxies for ETH mining, such as proxies from Nicehash and miningrigrentals.
13. Binance Liquid Swap to adjust trading fee on February 27 to 0.1%.
14. Binance Staking launches DODO and MATIC staking with Up to 54.79% APY Stake your DODO and MATIC starting February 23.
15. Earn Up to 20% APY on DUSK, EGLD and RIF with Binance Savings.
Binance Pool launches the 31st phase of dual savings products for BTC, USDT, and BUSD.
17. Binance Completes AC Milan Fan Token Discount Sale, Lists ACM. We listed opened trading for ACM/BTC, ACM/BUSD, and ACM/USDT trading pairs on February 24.
18. Binance Staking launched SOL Staking with Up to 43.79% APY.
19. Binance supports the IRISnet (IRIS) network upgrade & hard fork, as well as the Donnie Finance (DON) airdrop program for IOST (IOST) holders.
20. We completed a Spot Websocket Cluster Upgrade on February 24.
Binance Futures Updates
21. Binance Futures 10,000 USDT Promo - Deposit EUR and Trade USDT-Margined Futures. Binance has committed a total of 10,000 USDT in voucher rewards to celebrate the addition of EUR as cross collateral for futures trading. The first 500 eligible users who complete both tasks during the promotion period will receive a Futures Bonus Voucher worth 20 USDT.
22. Binance has enabled Cross Margin and Isolated Margin trading for the following assets and trading pairs:
New Cross Margin Asset: SXP, AVAX, EGLD
New Cross Margin Pairs: SXP/USDT, SXP/BTC, AVAX/BTC, AVAX/USDT, EGLD/BTC, EGLD/USDT, EGLD/BUSD
New Isolated Margin Assets: AION, BAKE, BQX, DENT, HOT, KEY, MFT, NPXS, SUN
New Isolated Margin Pairs: AION/USDT, AION/BTC, BAKE/BUSD, BQX/BTC, DENT/USDT, HOT/USDT, KEY/USDT, MFT/USDT, NPXS/USDT, SUN/USDT, SUN/BTC
23. NEW ON ISOLATED MARGIN: CAKE, DODO and GLM
24. NEW ON USDT MARGIN: REEF, RVN and SFP with up to 25x leverage
25. UPDATED: Maintenance Margin of Binance Futures Coin-Margined Contracts and USDⓈ-M Futures Trading Rules
26. Notice Regarding Binance Futures System Issues on 2021-02-22. Due to large price fluctuations on February 22, Binance Futures encountered heightened levels of traffic and system overloading. Affected users can email [email protected] to request a claim.
From the Binance Team
Mark Cuban & CZ Fireside Chat.Binance CEO Changpeng Zhao (CZ) and famous entrepreneur Mark Cuban talked about NFTs, DeFi, Bitcoin, and more! Watch the video here.
28. BNB Record-Breaking February: Thanks to Our Community.BNB, the native token of Binance, is having a remarkable month, rising to as much as $342.88.
29. Binance Review, Month 43: BNB, BSC Ascending. BNB reaches new heights following a remarkable token burn, Binance Smart Chain emerges as a top blockchain with record-breaking milestones, and more.
30. Trade, Swap, or Convert: 3 Ways to Buy Crypto for Binance Launchpool. In this guide, we’ll show you three simple and fast ways to convert the assets you have into BNB, BETH, or BUSD.
31. Latest articles from Binance Academy
32. Latest reports from Binance Research
Promos and Community
33. NEW: Binance Fiat Invite Program: Invite a Friend, Share 10 BUSD Rewards. Get a chance to earn a bonus of 5 BUSD for you and your friends. There is no limit to the number of friends you can invite, so the more friends you invite, the more bonus you will get. T
34. EXTENDED: Zero Fees Promo on Bank Deposits for EUR and GBP. Now, users may continue to enjoy zero-fee bank deposits until March 31.
35. EXTENDED: Zero-Fee Promo for BUSD/USDT, USDC/BUSD, TUSD/BUSD, and PAX/BUSD, now until June 10.
36. COMPLETED: We distributed rewards for 5 recently concluded promos
Year of the Bull Promo for $100,000 in BTC
$50,000 REEF Trading Competition
$50,000 PAXG Trading Competition
$30,000 Binance App Options Promotion
SFP Trading Competition for SafePal Wallets
37. COMPLETED: BRL Trading Competition
38. COMPLETED: EUR Trading Competition
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.
