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Binance, the world’s largest crypto exchange, was approved as a licensed broker-dealer in Brazil, the most populous country in Latin America.
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Binance has secured its 21st global regulatory authorization from Banco Central do Brasil (BCB), the central bank of Brazil, in a significant milestone for crypto adoption in Latin America.
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Today in crypto, Binance has secured its 21st global regulatory authorization in Brazil, a lucky memecoin trader profited over $3 million after buying $66 worth of a Pepe-Gladiator-themed memecoin in mid-December, and the community behind the memecoin Floki has allocated a portion of its funds to provide liquidity for its upcoming exchange-traded product (ETP).
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In a buyer-dominated market, buyers may need to pay sellers a fee (positive funding rate) to maintain their positions. On the other hand, in a seller-dominated market, sellers pay buyers (negative funding rate).
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Pseudonymous crypto trader Rekt Capital said in a Dec. 17 X post, “Bitcoin has only just begun its parabolic phase in the cycle.”
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“This indicates that Bitcoin’s upward trajectory is likely to continue, with significant room for further growth,” they added.
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“Analyzing the funding rate using a 30-day exponential moving average (EMA), there are no visible signs of late-cycle overheating,” CryptoQuant contributor Avocado onchain said in a Dec. 17 markets report.
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The Bitcoin funding rate signals that the market is not overly frothy and shows no signs of Bitcoin’s price peaking too early in the cycle, according to a crypto analyst.
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However, the cumulative short-leveraged positions are equally concentrated between $3,850 to $4,200. Therefore, ETH/USD may undergo another period of choppy price action. In light of that, Byzantine General, a futures market analyst, said,
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This level is also significant because the cumulative long liquidation leverage positions between $3,700 and $3,800 collectively exceed $500 million, and prices can systematically reverse after a liquidity sweep.
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From a technical perspective, ETH price could now retest the region between $3,715 and $3,628, where a fair value gap (FVG) combined with support from a 200-day EMA is located.
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Despite immediate bearish sentiments, Ether’s market structure has maintained an uptrend with higher highs (HHs) and higher lows (HLs).
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Data shows that the ETH long/short ratio dropped to 0.9 between Dec. 16 and 17, further strengthening the above argument that short traders outnumbered long traders.
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“[The SEC] must not price those very investors out of our markets through burdensome regulations or eat up the fruits of their investments through nonsensical mandates,” Atkins said in a 2007 speech to the Corporate Directors Forum.
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Back then he was already pro-innovation and investment and against red tape:
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Atkins served as a Republican SEC commissioner from July 2002 to August 2008, having been appointed to the role under George W. Bush.
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Here’s what we know about Atkins and the potential changes he could bring to the crypto industry if he’s confirmed as expected by Congress in 2025.
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A warm Farcaster welcome to @danathan048345!
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A warm Farcaster welcome to @b4823917!
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A warm Farcaster welcome to @e28315122!
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