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Santiment said that altcoins named BOUNCE (BOUNCE), Lido (LDO), OmiseGO (OMG), Storj (STORJ) and Synthetix (SNX) have reached the buying opportunity zone in the medium term.

20.03.2024 - 13:44

Update: 20.03.2024 - 13:44

While Bitcoin continued to fall in the correction that started last week, it dropped below $ 61,000 in the morning hours.

With this decline in BTC, altcoins entered a steeper correction and the Ethereum (ETH) price dropped over 22% in the last 7 days.

While the decline has a negative impact on investors, the market is currently in a downward trend. But Santiment said that despite this bearish trend, on-chain data shows it could be a great time to buy the dip.

At this point, Santiment shed light on potential opportunities in the cryptocurrency market and said that according to the MVRV Opportunity and Danger Zone Model, many altcoins have reached the buying opportunity zone in the medium term.

While Santiment listed the altcoins in the opportunity zone for investors who want to turn the current decline into an opportunity, the list included BOUNCE (BOUNCE), Lido (LDO), OmiseGO (OMG), Storj (STORJ) and Synthetix (SNX).

“Following Bitcoin's slide below $61,000, a 2-week low, on Tuesday, Santimentfeed's MVRV Opportunity and Danger Zone Model shows that several altcoins have finally fallen enough to realize mid-term trading returns.

These altcoins have reached the buying opportunity zone in the medium term and currently some of the best candidates in this opportunity zone are BOUNCE, LDO, OMG, STORJ, and SNX.”

📊 Following #Bitcoin's drop to a 2-week low of $61.7K Tuesday, the @santimentfeed MVRV Opportunity & Danger Zone Model indicates that several #altcoins have finally dropped enough for mid-term trading returns to be in an #opportunity zone. This zone gets breached when an asset's… pic.twitter.com/LAJxDtc1kp

— Santiment (@santimentfeed) March 20, 2024

*This is not investment advice.

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This move is part of Binance’s regular review process. Each listed digital asset undergoes scrutiny to ensure it meets high standards and industry requirements. If a coin or token fails to meet criteria or if industry changes occur, Binance conducts a thorough review and may delist the asset.

Binance’s Delisting Protocol Binance’s periodic review process reflects its commitment to maintaining a robust and reputable trading environment for its users. By delisting assets that no longer meet their standards, exchanges like Binance can help mitigate potential risks for investors and uphold the credibility of the overall market.

According to a blog post, The decision to delist OMG, WAVES, WNXM, and XEM underscores Binance’s proactive approach to regulation. As the regulatory landscape surrounding cryptocurrencies evolves, exchanges must adapt to meet new requirements and standards. By regularly reviewing and adjusting its list of supported assets, Binance aims to stay compliant with regulations while providing its users with access to a diverse range of digital assets.

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Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

Binance Holdings Ltd, the world’s largest crypto exchange recently announced the removal of three major cryptocurrencies from Binance’s spot and margin outlets. The cryptocurrencies include OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM). Shortly after the announcement, the price of these cryptocurrencies dropped drastically.

Binance and Its Plans for OMG, XEM, and WNXM Binance gave the announcement earlier Today, stating that users will be unable to trade spot and margin trading pairs on OMG, XEM, and WNXM at 03:00 UTC on June 17. The exchange cites failure to meet industry standards and requirements done periodically as the reason for delisting these cryptocurrencies.

Users have until September 17 to withdraw these tokens from the platform, as support for them ceases on this date. Weeks before the delisting date, Binance has delisted these tokens from Binance Simple Earn, Finance Auto-Invest, and Binance Loans.

Binance states:

“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics.”

It is not uncommon for exchanges to delist cryptocurrencies from their platform. Last year, OKX announced the delisting of several privacy tokens like Monero (XMR), citing privacy concerns from its users. In the case of Binance, the platform reviews listed crypto for maintaining a high level of standard and industry requirements. These comply with the exchange’s listing standards.

Following the announcement, the price of OMG decreased by 28% to $0.5054, XEM by 30% to $0.02491, and WNXM by 3% to $80.59 respectively. However, the trading volume of OMG and XEM increased by 578% and 2,297% respectively, indicating adjustments from traders.

Earlier in January, Binance added a monitoring tag to 10 tokens. At the time, it suggested a lot of risk and volatility associated with the crypto assets and that they may be delisted eventually. The cryptocurrencies slapped with the monitoring tag include ANT, FIRO, KP3R, MDX, MOB, REEF, VAI, XMR, ZEC, and ZEN. Only time will tell if Binance will delist more cryptocurrencies as the crypto market matures.

Binance Revamps Its Web3 Wallet Beyond the delisting plans, the top crypto trading platform recently introduced new features and improvements to its Web3 Wallet, its self-custody crypto wallet. Accordingly, the Earn page for the Web3 Wallet now features two new sections; Simple Yield and Yield Plus, aiming to optimize users’ earning experience on the Binance app.

The Binance Web3 Wallet has expanded support for six more blockchains, including Degen Chain, BounceBit, Mode Network, KuCoin Chain, Ronin, and the Tabi Testnet. These improvements to Binance Web3 Wallet aim to improve user experience and strengthen its standing as one of the market’s most user-friendly, safe, and inclusive self-custodial wallets.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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OMG! The 4 Altcoins Whales Are Quietly Accumulating – Find Out Why

Stock markets are ready for extreme volatility following the weekend crypto sell-off.

Roughly $2.2 billion was liquidated from the cryptocurrency market in the last 24 hours following President Donald Trump’s announcement of tariffs on imports from Canada, Mexico, and China, according to data from Coinglass.

OMG! Table of Contents

OMG!Trump’s New Tariffs May Spark InflationGet 3 Free Stock Ebooks Bitcoin, the largest cryptocurrency by market cap, plummeted to a low of $92,500 on Sunday night, according to CoinMarketCap data, after failing to hold above $100,000 as soon as tariff news surfaced. It is currently hovering around $93,000, down 6.5% in the last 24 hours.

Bitcoin’s decline, however, was dwarfed by the losses seen in other digital assets. During the same timeframe, Ethereum, Solana, and numerous other altcoins saw their values slashed by double-digits.

Ethereum (ETH) plummeted 20% to $2,400, while XRP and Dogecoin (DOGE) each crashed 24%. Cardano (ADA) tumbled 25%, Binance Coin (BNB) shed 15%, and Solana (SOL) fell 15%. The cryptocurrency market cap fell 10% to $3 trillion.

The sharp market sell-off marked the largest single-day liquidation event in crypto history. This event surpassed previous major market sell-offs associated with the COVID-19 crisis and the FTX collapse.

According to Coinglass, the downturn triggered massive liquidations in the cryptocurrency derivatives market, with over $1.8 billion in long positions wiped out across leading trading platforms and $345 million in short positions.

As of the latest data, Ether took the brunt of losses, with a whopping $603 million in liquidations in the past day. Bitcoin wasn’t far behind at $407 million while a combined $435 million in liquidations hit a bunch of other altcoins. XRP saw a hefty $115 million wiped out, while SOL and DOGE clocked in at $85 million and $83 million, respectively.

On February 1, Trump announced new tariffs on imports from Canada, Mexico, and China, set to take effect on February 4. The tariffs include a 25% levy on goods from Canada and Mexico and a 10% tariff on Chinese imports.

Trump has stated that these measures are necessary to combat illegal immigration and drug trafficking, which he has labeled a national emergency.

The tariffs will apply to all imports except Canadian energy resources, which will face a reduced tariff of 10%. Goods already in transit before the announcement are exempt from these tariffs.

However, economists warn that Trump’s planned tariffs could inflate prices across various sectors, including automobiles and food products. Affected businesses, in order to maintain profitability, often pass these increased costs along to U.S. consumers in the form of higher prices for the final products, which ultimately contributes to inflation.

After a trio of rate cuts last year, the Federal Reserve (Fed) kept interest rates on hold in the range of 4.25% to 4.5% during its January 2025 meeting. Fed Chair Jerome Powell stated that the central bank is not in a hurry to lower rates as recent economic indicators show solid expansion and a stable labor market.

The latest inflation data indicate that the annual inflation rate in the U.S. rose to 2.9% for the 12 months ending December 2024, up from 2.7% in November. This means inflation has been on the rise in three consecutive months.

The unemployment rate has remained low, and while inflation has shown signs of being persistent, the Fed is cautious about making additional cuts that could exacerbate inflationary pressures.

Canada and Mexico have signaled intentions to retaliate against Trump’s new tariffs. Canadian Prime Minister Justin Trudeau announced that Canada would implement 25% tariffs on approximately $155 billion worth of U.S. goods.

Mexican President Claudia Sheinbaum has also ordered retaliatory tariffs; however, specific rates and targeted products have not yet been detailed.

Global markets around the world are bracing for volatile trading on Monday as investors assess the potential fallout from President Trump’s tariff announcement. As trading commenced, the U.S. dollar strengthened while the Canadian dollar and peso weakened.

Nicholas Say

Nicholas Say was born in Ann Arbor, Michigan. He has traveled extensively, lived in Uruguay for many years, and currently resides in the Far East. His writing can be found all over the web, with special emphasis placed on realistic development, and the next generation of human technology.

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The world’s largest crypto exchange Binance on Monday announced delisting and ceasing trading of these four cryptocurrencies from Binance spot and margin. Waves (WAVES), OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM) delisting announcement has caused prices to dip massively.

Derivatives trading data report major trades as traders and investors move or readjust their holdings in WAVES, OMG, XEM, and WNXM, causing open interests to pump over 100% in the last 24 hours.

Binance Announces Delisting of WAVES, OMG, XEM, NXM In an official announcement on June 3, Binance said it has decided to delist and cease trading on all spot and margin trading pairs of Waves (WAVES), OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM). Users will not be able to trade these cryptocurrencies after 03:00 UTC on June 17.

Exchange claims these crypto have failed to meet the standard and industry requirements in reviews done periodically by the crypto exchange.

“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics,” stated Binance.

The last date for withdrawing these tokens is September 17 as the exchange completely ends support for these crypto. Binance delisting these tokens from Binance Simple Earn, Binance Auto-Invest, and Binance Loans weeks before the delisting date.

Binance’s Delisting Factors For All Crypto Crypto exchange Binance reviews listed crypto for maintaining a high level of standard and industry requirements. These are in line with listing requirements of the exchange.

These include a team’s commitment to project, development activity, trading volume and liquidity, stability and safety of network, smart contract stability, level of public communication, response to exchange’s periodic due diligence requests, unethical/fraudulent conduct or negligence, regulatory requirements, and contribution to crypto ecosystem.

Prices Tumbled After Announcement WAVES price tumbled over 25% after Binance’s announcement, with the price currently trading at $1.77. The trading volume has jumped over 900% as traders and investors make quick readjustments to their holdings.

Meanwhile, OMG, WNXM, XEM prices have dropped over 25%, 3%, and 29%, respectively, in the last few hours.

Interestingly, the announcement caused massive futures trading as WAVES, OMG, XEM futures open interest jumped over 100%. The move is likely triggered by a change in margins and readjustments to trade.

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