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Binance CEO Faces Pleas From SHIB Army To Start Burning SHIB, Here's Why
Binance CEO Richard Teng’s recent post on X, dedicated to ETFs and the high overall interest in BTC, suddenly attracted the attention of the SHIB army. However, SHIB enthusiasts took to the comments section of the post to not weigh in on the Bitcoin topic; instead, they asked the Binance head if the exchange could start burning tokens, like it does with LUNC tokens using its profits from trading fees. As a reminder, Binance has been contributing to LUNC burning since 2022 in an effort to revive the Terra Luna Classic (LUNC) project following the crash it faced that year. The SHIB community’s plea did not go unnoticed by Shibburn’s official X user; the team behind it tagged Binance and wrote: “Imagine Binance burning SHIB trading fees like they do with LUNC. Could it happen?”
Bitcoin Miners Are Capitulating, But There Is a Silver Lining
CryptoQuant founder and CEO Ki Young Ju recently posted a statement on the X platform regarding Bitcoin miners; according to Ju, their capitulation is still ongoing. The term “mining capitulation” means a period when miners are forced to sell their Bitcoin holdings due to falling prices and fees. In his post on X, the CEO referred to historical data showing that such capitulation ends when “the average daily mined value is 40% of the annual average.” However, it currently stands at 72%. In Ju’s opinion, market participants should expect “boring” cryptocurrency markets for the next two to three months. The CEO also recommended investors to “stay optimistic in the long run,” while avoiding excessive risks.
Legendary Bitcoin Trader John Bollinger Shares Crucial Portfolio Advice
Recently, John Bollinger provided some important investment and portfolio management advice on his page X. The prominent technical analyst and inventor of the Bollinger Bands indicator advised investors not to include “cruft” assets in their portfolios, stating that doing so would ensure effective management of the remaining investments. Considering how saturated the market is with various financial instruments (and cryptocurrencies in particular), Bollinger’s advice is especially relevant – at the moment, there are over 2.4 million different crypto assets, with a total market capitalization of $2.14 trillion. Therefore, considering the fact that this huge amount of cryptocurrencies can overwhelm investors, Bollinger’s recommendations on portfolio optimization might prove useful.
This article was originally published on U.Today
