Will the BNB Price Recover After SEC Lawsuit and Can Ecoterra & DeeLance Provide Hope to Traders?
The crypto market remains mired with bearish sentiments and extreme FUD. Binance Coin (BNB) has been one of the biggest losers after the SEC sued both Binance and Coinbase within a span of 24 hours.
With BNB’s recovery now dependent upon a long-drawn legal battle, investors are already looking at alternative tokens that can outperform the crypto bear market. Let’s take a closer look at BNB’s prospects and two new tokens that are defying the bear market.
BNB Plummets Due To Binance FUD, When Can The Token Bounce Back?
Binance Coin is struggling with an extremely negative outlook after the SEC sued Binance for illegal operation and sale of unregistered securities. To make matters worse, the token itself was labeled an unregistered security by the SEC.
The security versus commodity debate has now become the overarching narrative of the crypto market. Tokens that are considered securities will likely face suffocating regulation.
Since the lawsuit, BNB has slid significantly in the last 9 days. Despite several bursts of bullish momentum, the token remains at an almost 5% loss over the past week.
Data from Coinglass, an on-chain data analysis company, reveals that open interest in Binance Coin Futures reached an all-time high. Furthermore, the negative funding rate in the perpetual futures market also reveals that investors are betting against the token.
The SEC’s lawsuit has also created extreme FUD in the market. Binance founder Changpeng “CZ” Zhao took to Twitter to dispute the narrative that the exchange converted its crypto holdings to fiat. He stated that their holdings even increased after the lawsuit.
However, one fact that CZ can’t dispute is that Binance suspended 10 trading pairs involving the BNB token, creating an even more uncertain environment for the token.
Any hope of Binance Coin’s recovery now rests on early results from the exchange’s legal team. The hearing on SEC’s petition to seize Binance.US assets will take place tomorrow. Binance’s legal teams have fired back at the SEC, stating that SEC’s petition seeks to effectively put the exchange out of business.
Binance Coin has surged by 5% in the last 24 hours.
What Coins Are Traders Backing Now Amid SEC Crackdown?
SEC’s lawsuit against Binance and Coinbase has created extreme bearishness in the crypto market, with several major altcoins on the SEC’s target. Therefore, investors are flocking to newly launched tokens that have important real-world use cases.
Experts believe that the legal battle between SEC and Binance will be long and tedious. Therefore, crypto projects will also require strong community backing to show sustainable price growth. A successful presale is often a good indicator of this.
Bullish events such as Tier-1 exchange listings and major network upgrades can also result in growth for tokens.
With this in mind, let’s take a look at Ecoterra and DeeLance – two recently launched tokens that have become big hits with investors due to their high real-world value.
Eco-Friendly Token Ecoterra Hits $5 Million in Presale, Is This a Better Alternative to BNB?
As our society becomes increasingly aware of the widespread threats of climate change and global warming, the crypto industry needs to shed its “environment unfriendly” image. Thankfully, the Ecoterra project is offering investors a green alternative to other energy-inefficient tokens.
The ECOTERRA token is riding high in the presale as it recently hit the $5 million milestone. Its strong start and high utility are attracting investors who are currently unsure about mainstream tokens.
The project is using blockchain technology and innovative tokenomics to incentivize individuals and corporations to play their part against anthropogenic climate change.
For example, corporations looking to build an eco-friendly image can simply purchase recycled products from Ecoterra’s Recycled Products Marketplace. On the other hand, individuals can earn lucrative ECOTERRA rewards every time they recycle waste products through the platform’s Recycle2earn application. This demand and supply of recycled products will help create a sustainable circular economy.
The project has also partnered with leading climate organization Verra to offer verified carbon credits (VCUs) that help individuals and corporations to reduce their carbon footprint.
Apart from being used as an incentive in the Reward to Earn ecosystem, the Ecoterra token is the preferred method of payment for all platform services. While the platform allows multiple payment methods, including Fiat, Bitcoin, and USDT, the Ecoterra tokens require lower transaction fees and offer an attractive APY through staking.
Interested investors can purchase Ecoterra through bank cards or by swapping ETH or USDT tokens.
DeeLance Challenges $450 Billion Gig Industry, Token Raises Over $1 Million In Presale
DeeLance is a decentralized freelancing and recruitment platform that is looking to dominate the $450 Billion global gig economy. The Web2 recruitment and freelancing solutions such as Upwork, Freelancer, and Fiverr often act as monopolies which results in frustration for the users.
DeeLance uses blockchain technology and crypto payment mechanisms to offer significant upgrades over Web2 solutions. The project is seeing heavy interest in its presale as the $DLANCE token has raised $1.3 million and is well on its way toward the targeted $1.7 million.
Firstly, DeeLance is looking to do away with the exorbitant fees and commissions charged by its Web2 competitors. They often require a 3% client fee and a ridiculous 20% freelancer fee. On the other hand, DeeLance will ask for a minimal 2% client fee and a 10% freelancer fee.
Furthermore, the integrated crypto payment mechanism in DeeLance means that users can withdraw their money without worrying about any withdrawal fee or a minimum payout amount.
The platform also seeks to provide a seamless experience to its customers. It employs an efficient escrow mechanism and a scalable dispute resolution system to enhance user experience.
The $DLANCE token will also play a key role in building a digital metaverse economy. Token holders can access NFTs, an NFT marketplace, and can purchase lands and offices in the Metaverse.
The token is currently priced at $0.038 and will surge 50% to $0.057 at launch. Thus, investors have limited time to take advantage of the early presale price by purchasing DeeLance through bank cards or by swapping ETH, BNB, or USDT tokens.
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