Bitcoin
Bitcoin (BTC)
$60,033.00 2.33791
Bitcoin price
Ethereum
Ethereum (ETH)
$3,194.78 1.33209
Ethereum price
BNB
BNB (BNB)
$536.75 1.18693
BNB price
Solana
Solana (SOL)
$145.51 4.28371
Solana price
XRP
XRP (XRP)
$0.5311680 -0.06861
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000173 0.66158
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 1.3989
Pepe price
Bonk
Bonk (BONK)
$0.0000234 4.31722
Bonk price
Bitcoin
Bitcoin (BTC)
$60,033.00 2.33791
Bitcoin price
Ethereum
Ethereum (ETH)
$3,194.78 1.33209
Ethereum price
BNB
BNB (BNB)
$536.75 1.18693
BNB price
Solana
Solana (SOL)
$145.51 4.28371
Solana price
XRP
XRP (XRP)
$0.5311680 -0.06861
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000173 0.66158
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 1.3989
Pepe price
Bonk
Bonk (BONK)
$0.0000234 4.31722
Bonk price
Bitcoin
Bitcoin (BTC)
$60,033.00 2.33791
Bitcoin price
Ethereum
Ethereum (ETH)
$3,194.78 1.33209
Ethereum price
BNB
BNB (BNB)
$536.75 1.18693
BNB price
Solana
Solana (SOL)
$145.51 4.28371
Solana price
XRP
XRP (XRP)
$0.5311680 -0.06861
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000173 0.66158
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 1.3989
Pepe price
Bonk
Bonk (BONK)
$0.0000234 4.31722
Bonk price
Bitcoin
Bitcoin (BTC)
$60,033.00 2.33791
Bitcoin price
Ethereum
Ethereum (ETH)
$3,194.78 1.33209
Ethereum price
BNB
BNB (BNB)
$536.75 1.18693
BNB price
Solana
Solana (SOL)
$145.51 4.28371
Solana price
XRP
XRP (XRP)
$0.5311680 -0.06861
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000173 0.66158
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 1.3989
Pepe price
Bonk
Bonk (BONK)
$0.0000234 4.31722
Bonk price

K33 Research: Crypto markets remain steady despite Binance-DOJ settlement

k33-research-crypto-markets-remain-steady-despite-binance-doj-settlement
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Markets
K33 Research: Crypto markets remain steady despite Binance-DOJ settlement

The crypto market, led by Bitcoin and Ether, has shown resilience following the U.S. Department of Justice’s $4.3 billion settlement with Binance, amidst varied reactions across different crypto assets and exchanges.

In a Nov. 27 development, the cryptocurrency market has shown resilience despite the U.S. Department of Justice’s (DOJ) settlement with Binance, one of the world’s leading crypto exchanges. The settlement, addressing allegations of money laundering, fraud, and sanctions violations, concluded with Binance agreeing to a $4.3 billion fine – a record in corporate settlements in the U.S.

K33 Research analysts Vetle Lunde and Anders Helseth point out that this settlement differs significantly from the FTX collapse, emphasizing that Binance’s issues were primarily regulatory and did not involve customer fund mismanagement. This distinction, they argue, minimizes the risk of contagious effects within the crypto industry.

K33 Research: Crypto markets remain steady despite Binance-DOJ settlement - 1

Market reactions have been varied. Bitcoin (BTC) and Ether (ETH) have remained relatively stable, with modest increases of around 6% and 5%, respectively, since Nov. 21. However, Binance’s own token, BNB, experienced a notable decline of nearly 14% in the same period. This could reflect investor concerns about Binance’s future operations and market position.

Decentralized exchanges like Uniswap have benefited, as indicated by a 20% rise in its UNI token. This trend suggests a growing investor interest in alternatives to centralized exchanges like Binance.

Despite legal challenges and a declining market share, Lunde and Helseth argue that Binance is not likely to disappear from the crypto scene. The exchange still maintains a significant user base and remains the largest by trading volume, indicating its continued relevance in the crypto market.

On the institutional side, the Chicago Mercantile Exchange (CME) has seen signs of profit-taking in Bitcoin futures. Substantial long exposure and high premiums were observed initially, but a recent reduction in open interest suggests that some large traders are cashing out.