Friends! So much has happened in crypto over the weekend, including with Kevin Durant’s crypto account. If you missed on the action, here’s your crypto update!
BNB Surges 10% Amid Quiet Crypto Market
To be honest, the crypto market stayed mostly flat over the weekend, except for BNB (and ASTER).
The token, tied to Binance, actually jumped an impressive 10%. In fact analysts are now predicting a potential year-end rally, with price targets between $1,250 and $1,565.
However, BNB’s rapid rise has pushed its Relative Strength Index (RSI) into overbought territory on the four-hour chart. You know what this means? A possible short-term dip.
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So far though, BNB’s bullish trend remains solid.
YZi Labs Boosts Ethena’s Stablecoin Ambitions
Meanwhile in other Binance news, the firm’s tech-focused venture capital firm YZi Labs is apparently doubling down on Ethena.
Ethena is behind the USDe stablecoin.
YZi Labs led by Changpeng Zhao believes the investment will help expand USDe across platforms like BNB Chain and support the development of a new stablecoin, USDtb.
Ethena is also building Converge, a blockchain layer for tokenizing real-world assets, compatible with the Ethereum Virtual Machine.
Coinbase’s Vision: A Crypto-Powered Super App
Looks like Binance isn’t the only one with big ambitions.
Coinbase CEO Brian Armstrong now has plans to transform the exchange into a crypto “super app” that could rival traditional banks.
Armstrong shared his vision of offering a full range of financial services, including payments, credit cards, and rewards via the app, all powered by crypto.
In the age of apps, this could be revolutionary.
He didn’t just stop there. He criticized the inefficiencies of today’s banking system, particularly high credit card fees of 2-3%.
“It’s just data moving online, it should be nearly free,” Armstrong said.
With the kind of potential crypto has, Coinbase aims to become a one-stop financial hub for its users.
NBA Star Kevin Durant Recovers Long-Lost Bitcoin
In our final and exciting update, NBA star Kevin Durant has regained access to his Coinbase account.
This is the account where he first bought Bitcoin nearly a decade ago.
Durant shared that he discovered Bitcoin around 2014 through YouTube videos and encouraged his agent to explore it.
Coinbase CEO Brian Armstrong announced the successful account recovery, marking a win for the 15-time All-Star Kevin Durant.
Kevin Durant now plays for the Houston Rockets.
Next Crypto Update
That’s it for the crypto update today. Stay tuned for tomorrow’s update. Alternatively, you can subscribe to Coin Medium’s social media to stay updated on all things crypto.
