The cryptocurrency market is still under close scrutiny by regulators, and some of the major cryptocurrencies are suffering the consequences of this impact. In particular, KuCoin and Binance have been in the spotlight for several regulatory compliance issues. On the other hand, as investors look for alternative cryptocurrencies to invest in, Pullix is gaining increasing attention since completing its first presale phase. Let’s delve into the details.
Binance (BNB) Struggles to Maintain Bullish Momentum Amid Regulatory Concerns
Binance (BNB) has been in the spotlight for mostly the wrong reasons lately. In June this year, the exchange faced numerous allegations of operating an illegal exchange in various jurisdictions, including the United States. As a result, a number of regulatory concerns have emerged, contributing, in part, to the resignation of Changpeng Zhao as the founding CEO of the world’s largest cryptocurrency exchange.
Interestingly, this move was part of a major $4 billion deal reached between US agencies and the cryptocurrency exchange founded by Changpeng. Naturally, such developments have significant implications for the exchange’s native asset, BNB.
Until recently, Binance’s native asset, BNB, had been trading within a support zone, experiencing a price decline from its previous position of $340 to a low of $205 earlier this year . However, as investors regain confidence in the cryptocurrency and amid the general bull run in the crypto market, the price of BNB has started to recover lost ground. It recently rose to a high of $255 before stabilizing at its current price of $246.
While the trading analysis of the last 7 days indicates a gain of more than 5% in the price of BNB, the last 24 hours have recorded a decrease of around 1.40% for the crypto asset. The ongoing price fluctuations, despite the prevailing bull run, can be attributed to, among other factors, the impact of the regulatory crisis faced by the exchange.
KuCoin (KCS) Parts With $22 Million Amid Regulatory Crisis, KCS Price Pulls Back
KuCoin (KCS), facing a similar regulatory fate, was forced to part with $22 million in a settlement due to its involvement in unauthorized trading activities. Additionally, the exchange was ordered to cease operations and exit the New York market. Not surprisingly, these developments have had a negative impact on the exchange’s native asset, KCS, which has experienced a significant decline in recent days.
Currently, the price of KCS is at $10.77, indicating a decrease of more than 1.1% in the last 24 hours. However, it is worth noting that the cryptocurrency had previously witnessed substantial growth, explaining the 12% increase observed in its price over the past 7 days. Despite the crypto asset’s attempts to counteract the negative sentiment, it has struggled to maintain the same price level for consecutive days.
Pullix Expects Sustained Bullish Momentum as Investor Interest Grows
The Pullix cryptocurrency is gaining considerable attention as its ongoing presale attracts investors. With a current price of $0.42, over 4.8 million Pullix tokens have already been sold in phase 2 of the presale, raising more than $201,950. But what makes this project really interesting?
For starters, Pullix is addressing critical issues that have long plagued the industry. Unlike traditional exchanges, Pullix is a hybrid exchange that combines elements of DeFi and CeFi along with features of online OTC trading; Said differently, Pullix’s innovative approach to online trading seamlessly integrates online trading, cryptocurrency and anonymity.
Among other benefits, Pullix revolutionizes trading by not charging commissions, making it cost-effective for traders. This distinguishes Pullix as a platform that prioritizes user profitability. For example, community members can earn instant rewards by completing trading challenges, creating an attractive incentive for participation.
The native $PLX token at the heart of Pullix’s operation offers rewards and passive income opportunities to investors who stake their tokens, with escalating returns of up to 18% over longer lock-up periods.
Additionally, users have the flexibility to claim rewards, reinvest them, or store them safely in their wallets. In addition to these features, Pullix offers features such as yield farming, staking, liquidity provision, copy trading to enhance success, and a vault that allows users to earn compound interest on their crypto holdings.
For more information about Pullix presale:
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