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A Binance spokesperson has clarified that rumors suggesting that the company was dumping some of its crypto holdings, including Ethereum and Solana, are simply untrue.
These rumors started doing the rounds on social media almost immediately after the Bybit hack. Speculations suggested that large crypto firms, including Binance, caused the recent market sell-off by aggressively selling and reducing the size of their holdings. They are misunderstanding what Binance does as an exchange, which is we simply help users match trades – Binance
Binance’s clarification could be one of the reasons we’ve seen the market recover over the weekend.
There are still reasons to worry about potential liquidation, though, especially given the upcoming influx of Solana tokens from the FTX hack. Over 15M $SOL worth $2.5B are about to flood the market.
Still, expert analysis suggests that the coming week could see more buying pressure, as $BTC takes support on the 200 EMA. Combined with the long-term perspective being bullish, it could be worth investing in promising new presales that are showing a lot of investor interest. 1. Solaxy ($SOLX) – Solana Altcoin Capable of Boosting the Network’s Appeal
Solana has undoubtedly been one of the most talked-about blockchains in the last year thanks to its memecoin-friendly infrastructure.
It’s both fast and cheap, which has led to an increase in the number of meme coins on the network. Notable ones include $TRUMP, $BONK, and $MELANIA.
However, Solana’s rise to fame has birthed operational difficulties. The network stands overwhelmed by the sheer amount of transaction requests. This flooding of new investors on Solana has led to congestion and scalability issues, and transactions are failing to go through.
This is where Solaxy ($SOLX) comes in. Designed to be the first-ever Layer 2 solution on Solana, Solaxy will process transactions away from the network’s mainnet, reducing the burden on Solana.
Additionally, since $SOLX will carry out multiple transactions simultaneously, i.e., bulk processing, it will result in a reduction of the costs investors have to pay to go through with their transactions.
All in all, $SOLX isn’t just all fun and games. It’s a token with real utility, which is why it’s being considered the next 100x crypto. You can join Solana’s Solaxy-fueled growth by investing in the $SOLX presale. It has already raised over $24.5M, and each token is currently available for just $0.00165. Here’s how to buy it. 2. BTC Bull Token ($BTCBULL) – Support Bitcoin’s Growth and Become a Crypto Millionaire Yourself
Similar to how Solaxy could benefit from Solana’s growth, BTC Bull Token ($BTCBULL)is also designed in a way that it will bask in the success of a top cryptocurrency – Bitcoin.
That said, BTC Bull Token has enough tricks up its sleeves that differentiate it from just about every other meme coin on the market. For starters, it’s the only one that will distribute free $BTC among token holders.
$BTC airdrops will take place every time Bitcoin reaches a new milestone figure, such as $150K, $200K, and $250K. Even better, the airdrops will be automatic, meaning you won’t have to manually request them, as is the case with other projects. Just make sure you keep your $BTCBULL tokens in Best Wallet.
Additionally, the project has reserved a staggering 40% of the total token supply for marketing the token after its launch. This will draw more eyeballs to it, which, combined with its deflationary model, could skyrocket the token’s price.
Early investors, including those who get in now, stand to make the most of BTC Bull Token’s success. Join now for just $0.00239 per token. 3. Best Wallet Token ($BEST) – Native Crypto of the Best Crypto Wallet
With crypto adoption on the rise, the need for better security while storing and sending/receiving crypto has never been higher. Enter Best Wallet.
As one of the best crypto wallets, Best Wallet is not only highly secure but also super easy to use. For instance, by providing seamless access to over 60 chains, Best Wallet makes it possible to manage your entire portfolio from one place.
Speaking of its security, Best Wallet gives you complete control over your secret passkey. This means none other than you will be able to access your stored crypto. It also comes with advanced cryptographic techniques and 2FA/MFA, as well as third-party crypto insurance.
All in all, Best Wallet is destined for greatness. It has already amassed over 500K users and is well on its way to capturing over 40% of the non-custodial wallet market by 2026.
Like how you buy a company’s stock to invest in its growth, you can invest in $BEST to rally behind the wallet’s growth. $BEST is Best Wallet’s native cryptocurrency, after all.
Additionally, $BEST token holders will benefit from exclusive perks within the Best Wallet ecosystem. These include higher staking rewards, lower transaction fees, and the earliest access to the best new cryptos.
You can get 1 $BEST for just $0.024175 if you get in now. Overall, the $BEST presale has so far raised over $10.6M. 4. Rexas Finance ($RXS) – Unique Crypto Project Set to Increase Crypto’s Popularity
Rexas Finance is another crypto presale right in the sweet spot to benefit from increasing crypto popularity. With more and more investors looking at crypto as the next big thing, the demand for real asset tokenization is only going to soar higher. And that’s exactly what $RXS is meant for.
From gold and art to commodities and even real estate, Rexas Finance will provide holders with the ability to tokenize tangible assets. This one-of-a-kind crypto project will, therefore, leverage the power of blockchain tech to make investing more transparent, inclusive, and efficient.
The $RXS presale has sold over 454M tokens at the time of writing, garnering around $47M. Note that it’s nearing its end, so interested investors should hurry up and grab it while it’s available for a low price of $0.20. Conclusion
Having pointed you towards the most promising new cryptos, we’d also like to mention that although the larger crypto market is expected to soar higher sooner or later, the ever-present volatility could mean you see some short-term red in your portfolio.
So, make sure you’re mentally prepared to stick with your investments for several months. Additionally, it’d be wise to only invest an amount you’re comfortable losing.
Last but not least, the above article isn’t a substitute for financial advice from a certified professional, so please do your own research before becoming a crypto investor.