Bitcoin dominance is increasing consistently since Friday. It is likely that market participants are rotating capital from Polygon (MATIC), Cardano (ADA), and Solana (SOL) to Bitcoin. These assets rank in the list of cryptocurrencies labeled as securities by the US Securities and Exchange Commission (SEC).

Also read: Vitalik Buterin proposed this roadmap for Ethereum as the altcoin battles intense selling pressure

The US SECs regulatory crackdown on cryptocurrencies in its lawsuit against Binance and Coinbase has set a series of events in motion, triggering a bloodbath in crypto. Altcoins that were labeled as securities by the US financial regulator have suffered a double-digit drop in their prices as traders shed their holdings.

Altcoin prices decline under selling pressure

Alongside altcoin bloodbath, Bitcoins dominance has increased from 44.89% to 45.91% since Friday. Based on data from CoinGecko, the largest asset by market capitalization continues to dominate the ecosystem as altcoins crumble under selling pressure from the uncertainty among traders.

Binances Changpeng Zhao (CZ) attempted to explain the narrative driving the decline in altcoin prices and the mass sell off experienced by MATIC, SOL and ADA. CZ assured market participants that Binance is not converting its holdings to fiat.

The exchanges crypto reserves have increased over the past few weeks. CZ asks crypto traders to manage their fear, greed and risks while the exchange focuses on ensuring smooth operations of the trading platform.

If altcoin market capitalization continues to decrease and Bitcoin dominance rises, the asset could begin its recovery in the short term.

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Top 3 altcoins bleed in double-digits as Bitcoin dominance rises: MATIC, Cardano and Solana - FXStreet

A closely followed crypto strategist says that an Ethereum (ETH)-based altcoin is flashing signs of bullish exhaustion as he details his forecast for Binance Coin (BNB) and Chainlink (LINK).

Pseudonymous trader Altcoin Sherpa tells his 195,900 Twitter followers that the recent uptrend of the blockchain-based rendering protocol Render (RNDR) appears to be over for now.

According to the crypto strategist, RNDRs anemic volume over the last few weeks suggests that traders have lost interest in the project running on the Ethereum network.

RNDR: I think this one looks tired, expecting much lower prices.

Very few trends are sustainable. Most will go all the way back down and very few alts outperform ETH over the long run.

Am looking for shorts

You can see the one last exhaustion push-up. I think that this one goes much lower. $1 or lower in time.

Render is trading at $2.27 at time of writing.

Next up is Binance Coin (BNB), the utility token of the worlds largest crypto exchange. Altcoin Sherpa says that traders should think twice about becoming overly bearish on the fourth-largest altcoin by market cap as he says BNB is still trading within its yearly range.

BNB: I dont see a true trend change for BNB overall. Its still in the same range its been in for the last year, and I think a test around $220-250 is probably coming.

I still think Binance is ok and will be the leader for the foreseeable future

I dont think this is a good area to short. Its a decent support area still and the EQ (equilibrium) of the entire range. Would wait for further breakdown or a move up to low $300s before shorting personally.

BNB is trading at $260 at time of writing.

Turning to the decentralized oracle network Chainlink (LINK), the crypto trader says that the altcoin could ignite a short-term rally should it hit a key support level.

LINK: Expecting this to bounce around $5.50. Range lows and should be fine.

This current area is also a support level, so anywhere here to the range lows seems decent for support.

At time of writing, LINK is trading for $5.90.

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Trader Predicts Ethereum-Based Altcoin Will Plummet by Over 50%, Updates Outlook on Binance Coin and Chainlink - The Daily Hodl

In the last few days, Binance is experimenting with massive withdrawals one more time and people started to ask if they should move their funds to another exchange.

In this article. we will explore the notable attacks Binance has faced over the past five years, discussing the motives behind these incidents and the circumstances surrounding them. We will also compare Binances approach to security with that of FTX and emphasize the importance of personal custody for token ownership. But first, lets review some situations in the past that Binance passed before and could surpass them.

Binance fell victim to a series of phishing attacks. Hackers sent fraudulent emails and created fake websites imitating Binances login page to deceive users into revealing their login credentials. The motive behind these attacks was to gain unauthorized access to user accounts and steal funds. Binance promptly responded by enhancing security measures and educating users about the importance of staying vigilant against phishing attempts.

Binance experienced a major security breach in which hackers exploited vulnerabilities and stole approximately 7,000 Bitcoin (BTC) from the exchanges hot wallet. The hackers used a combination of phishing, viruses, and other attack vectors to execute their plan. Binance responded swiftly by halting all withdrawals and reimbursing affected users funds from its SAFU (Secure Asset Fund for Users). The motive behind this attack was financial gain, exploiting weaknesses in Binances security infrastructure.

A hacker claimed to a significant amount of Know Your Customer (KYC) data from Binance and threatened to release it publicly. While the hacker demanded a ransom in return, So, Binance categorically denied any breach of its systems and asserted that the leaked data was likely sourced from third-party providers. The motive behind this incident remains unclear, but it highlighted the potential risks associated with centralized exchanges reliance on external service providers for KYC procedures.

These causes generated millions of funds in withdrawals. Another example happened in November 2022. Binance suffered massive withdrawals valued at $12 billion over six months, and the company had no problem with this.

In terms of security incident response, Binance has proven to be proactive and committed to protecting its users funds. So, it is important to say that Binance didnt do what FTX did. FTX provided liquidity for its stakeholders creating FTX tokens from thin air. Fortunately for all of us, this was discovered and the devastating domino effect made the crypto winter longer.

While Binances security measures have significantly improved on the road, it is crucial to acknowledge that using any centralized exchange comes with inherent risks. The saying Not your keys, not your tokens serves as a reminder that custody of digital assets should ultimately lie with the individual users.

To ensure greater security and control over their cryptocurrencies, users should consider moving their assets to non-custodial wallets. By holding their private keys and utilizing wallets that prioritize user control and privacy, individuals can minimize the risk of their funds being compromised in exchange-related security incidents.

Binances position as one of the most reliable exchanges in the industry cannot be denied, given its proactive approach to security incidents and commitment to user protection. However, it is essential to understand that relying on your funds only on a centralized platform does not guarantee anything.

For more cryptocurrency news, check out theAltcoin BuzzYouTube channel.

Our popularAltcoin Buzz Accessgroup generates tons of alpha for our subscribers. And for a limited time, its Free. Click the link and join the conversation today.

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Are Your Funds Safe in Binance? - Altcoin Buzz

It's "business as usual at Coinbase" while the crypto market waits for the exchange's legal battle with the SEC to unfold over the coming months, possibly years. This week the Securities and Exchange Commission continued its crackdown on the crypto industry, suing the largest exchange in the world, Binance, on Monday only to go after the largest exchange in the U.S., Coinbase, the following day. The agency alleged Coinbase has been operating as an unregistered exchange, broker and clearing agency, and that its staking program violates securities laws. Coinbase shares fell more than 17% over the course of the week. Bitcoin rallied more than 3% between Tuesday and Friday, according to Coin Metrics and largely held onto its gains. Ether rallied as well but didn't finish the week out as strong. Many hope the lawsuit will force some needed clarity around how crypto businesses should operate in a compliant manner. The outcome could either lay some groundwork for the young industry to thrive or in the worst case scenario, push it out of the U.S. altogether. In the meantime, here's how crypto reacted to the news this week: Altcoin prices tumbled While bitcoin and ether got a little boost, there was more bloodshed in altcoin land after the SEC named several coins it said could be deemed securities. Among them were high-profile projects like Solana and Cardano, whose tokens lost 12% and nearly 14% between Tuesday and Friday, according to Coin Metrics. Polygon's matic token dropped 12% and Axie Infinity fell 9%. The mentions did provide some clarity around the SEC's point of view on what should be deemed a security, Jefferies pointed out in a note this week. They're all able to be bought or sold for consideration, trade at the same price as another unit of the same asset, are equal in value to any other one token, and don't give investors any special rights not available to other investors in that asset. The market cap of crypto 'securities' fell CryptoQuant's "SECurities" index fell about 14% following the lawsuit, while the market cap of bitcoin and ether has basically remained flat. JMP noted that in the "securities" the SEC named, bitcoin and ether, which represented 55% of Coinbase's trading volume in the first quarter, were excluded. "Coinbase has also been steadfast in its view that the assets listed on its platform do not fall under the scope of existing securities law, and we would note that other agencies (including the CFTC) and numerous legislators have differing opinions on the issue as well," the firm said in a note this week. "Accordingly, we expect this to represent the core issue of the case and the key existential question for Coinbase's business." Coinbase outflows of crypto 'securities' spiked Outflows the amount of coins withdrawn from an exchange's wallets and reserves in Coinbase for a number of the coins that were named in the SEC complaint spiked around the day of the lawsuit, and sometimes the day before, when the agency sued Binance and listed some of the same tokens, according to CryptoQuant. Coinbase saw outflows of about 20 million of Polygon's matic token Tuesday afternoon, trading at about 73 cents by the end of the week. The popular gaming token Axie Infinity, trading at about $6, saw outflows of about 32,000 coins Monday afternoon. Meanwhile, Sports and entertainment coin Chiliz saw a spike in outflows Monday, Tuesday and Wednesday. DeFi token Voyager saw a big increase Monday and then again on Friday.

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Bitcoin and ether stand ground this week while altcoins tumble on ... - CNBC

Crypto Experts Believe This Memecoin Could Be More Phenomenal Than Dogecoin (DOGE)

Weve all seen memecoins come and go before, especially during the last memecoin season of 2021 when DOGE and SHIB exploded out of nowhere. But did they hold onto their gains? No. Thats why memecoin investors have started to look for better mechanics and more fundamentals in their memecoin investments, leading to tokens like DigiToads (TOADS) growing in prominence. TOADS has all that memecoin stardust alongside actual earning mechanics, making it the perfect choice to lead the way into memecoin season 2 with its credentials for altcoin success. Its already making gains and has the potential to become more phenomenal than any other crypto over the next few months, including DOGE. Heres why investors are jumping into the TOADS presale at a rapid rate:

The remarkable TOADS presale has already surged past $4.72 million in early sales, a figure that continues to rise as more and more savvy altcoin fans snap up the best crypto to buy right now at discount prices. And discounts are still available at an incredible $0.036 per token, a figure that will rise automatically to $0.042 at the next stage very shortly, and hit a massive $0.055 before its official launch. This will make you automatic profits, and the price is expected to go even higher after that when it becomes easier to buy on mainstream marketplaces like Uniswap and BitMart.

As you can already see, price action is huge with TOADS right now, giving automatic profits to early investors before it becomes the best new ico in the crypto world. But thats not the only way to make gains as part of the incredible TOADs environment: you can also play to earn in the incredible TOADS swamp arena. This will pay out rewards to the best competitors every season, making handsome profits for the best performers with unique TOADS companions, which can be leveled up to make them even stronger.

But thats not all, TOADS also offers an incredible NFT staking mechanism, which is provided for by a 2% sales tax to ensure there are always enough funds in the pool. With these NFT staking mechanics, you can lock in popular NFTs for long-term residual income and automatic profits over the long term. All these reasons and more are why the TOADs ecosystem continues to thrive, and nows the perfect time to join the party if you dont want to miss out.

>> Buy DigiToads Now <<

As the peoples crypto, DOGE was supposed to be easy to use almost everywhere. And while it certainly showed how important memecoin hype potential can be, it failed to live up to long-term potential and hasnt become as widely adopted as initially hoped. Thats why other memecoins are poised to build on what DOGE introduced (marketing power) with real utility and solid long-term upsides. Tokens like TOADS.

TOADS has the potential to see similar hype as DOGE did a couple of years ago but with even more mechanics added to its model to help it last the test of time. Its got everything needed for success over the coming months, so grab those presale discounts and watch your portfolio soar.

For more information on DigiToads visit the website, join the presale or join the community for regular updates.

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Altcoin More Phenomenal Than Dogecoin - The Cryptonomist