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Wednesday, September 27, 2023

Bitcoin, Ethereum, Dogecoin Trade Mixed Ahead Of FOMC Policy Meet: Analyst Expects King Crypto To ‘Soon Confirm Its Direction’ Ahead Of 2024 Halving

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Major cryptocurrencies had a mixed trading session on Sunday evening, influenced by the recent Binance. US news.

Cryptocurrency Gains +/- Price (Recorded 9:30 p.m. EDT)
Bitcoin BTC/USD +0.27% $26,582
Ethereum ETH/USD -0.11% $1,625
Dogecoin DOGE/USD -0.77% $0.061

What Happened: Trading activity on Binance.US has hit a new low in September amid a series of unprecedented challenges for the crypto exchange.

According to Amberdata on The Tie Terminal, exchange volume stood at just $5.09 million on September 16. The lowest point of the month came on September 9, with trading activity totaling only $2.97 million. This is a significant drop compared to September 17, 2022, when Binance.US recorded a trading volume of around $230 million.

Binance.US is the US subsidiary of global crypto exchange Binance. However, both Binance.US and Binance have been hit with a lawsuit by the Securities and Exchange Commission (SEC) on charges related to unregistered securities offerings and wash trading, among other violations.

FTX has received court permission to begin selling. However, this process will be conducted at a measured pace and is unlikely to cause any sudden drops in the crypto markets. Despite the selling pressure, there is positive news this week. Asset management giant Franklin Templeton is joining the race to list a spot BTC exchange-traded fund (ETF), and global lender Deutsche Bank is going deeper into digital asset custody and tokenization.

Gold, Silver Or Bitcoin: What Is The Best Hedge Against Inflation? Ask industry experts directly at Benzinga’s Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won’t just be a passive spectator. Don’t let this chance slip away – secure early bird discounted tickets now!

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