|
Getting your Trinity Audio player ready...
|
The SEC’s lawsuit against Binance and Coinbase has cast a negative outlook on the crypto market, with Binance Coin (BNB) being one of the hardest-hit tokens. The SEC has sued Binance for illegal operation and sale of unregistered securities, and BNB was labeled an unregistered security by the SEC. As a result, BNB’s recovery now depends on a prolonged legal battle, leading investors to seek alternative tokens that can perform well in the bear market.
BNB Plummets Due To Binance FUD, When Can The Token Bounce Back?
BNB has suffered a severe drop in the last nine days after the lawsuit, despite several bursts of bullish momentum. The negative funding rate in the perpetual futures market also indicates that investors are betting against the token. The SEC’s lawsuit has created extreme FUD in the market, and even Binance founder Changpeng “CZ” Zhao’s attempts to dispel the narrative by attempting to show that their holdings increased after the lawsuit have been futile.
Any hope of Binance Coin’s recovery now hinges on the legal team’s early results. The exchange’s legal teams have fired back at the SEC, stating that SEC’s petition seeks to effectively put the exchange out of business. The hearing on SEC’s petition to seize Binance.US assets will take place tomorrow. Binance Coin has witnessed a growth of 5% in the last 24 hours.
What Coins Are Traders Backing Now Amid SEC Crackdown?
Investors are turning to newly launched tokens that have crucial real-world applications in the aftermath of the SECs crackdown on Binance and Coinbase. A long and dreary legal battle between SEC and Binance can lead to the need for strong community participation from crypto projects to display sustainable price growth. Successful presales are often a good indication of this. Tokens can also experience growth through bullish events such as Tier-1 exchange listings and major network upgrades.
Let’s take a closer look at two recently launched tokens that have been able to outperform the bear market: Ecoterra and DeeLance.
Eco-Friendly Token Ecoterra Hits $5 Million in Presale, Is This a Better Alternative to BNB?
The Ecoterra project provides a green alternative to energy-inefficient tokens as our society becomes more aware of the widespread issues of climate change and global warming. Ecoterra’s innovative tokenomics and blockchain technology incentivize individuals and businesses to combat anthropogenic climate change.
Investors are showing a keen interest in the token, which recently reached a milestone of $5 million in the presale owing to its strong start and high utility. Corporations that want to create a green image can purchase recycled products from Ecoterra’s Recycled Products Marketplace. Individuals can earn lucrative Ecoterra rewards through the Recycle2earn application each time they recycle. This demand and supply of recycled products will help create a sustainable circular economy. The project has also joined hands with reputable climate organization Verra to offer verified carbon credits (VCUs) to help individuals and businesses reduce their carbon footprint. Individuals can purchase Ecoterra using 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 aims to dominate the $450 billion global gig economy. Web2 tools such as Upwork, Freelancer, and Fiverr act as monopolies, resulting in frustration for users. DeeLance’s blockchain technology and crypto-payment mechanism offer significant improvements over Web2 solutions.
$DLANCE, DeeLance’s token, has raised over $1.3 million in the presale and is quickly approaching its $1.7 million target. Unlike Web2 competition, DeeLance’s minimal 2% client fee and 10% freelancer fee eliminates exorbitant fees and commissions. The integrated crypto-payment mechanism allows users to withdraw their funds without incurring any withdrawal fees or minimum payout amounts. The platform has an efficient escrow mechanism and a scalable dispute resolution system to enhance user experience. Token holders can purchase lands and offices in the Metaverse, gain access to NFTs, and participate in the NFT marketplace in building a digital metaverse economy. DeeLance is purchasable via bank cards or by swapping ETH, BNB, or USDT tokens.
