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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writers opinion

Binances ecosystem has been at the receiving end of an unrelenting regulatory pushback in the first quarter of 2023, casting serious concerns on the future of one of the largest entities in the crypto space.

The latest salvo directed at the crypto-behemoth was the lawsuit by U.S. Commodity Futures Trading Commission (CFTC), accusing the exchange and Founder Changpeng Zhao (CZ) of violating local compliance rules to expand its business.

Earlier in February, Paxos, the issuer of the Binance branded stablecoin BUSD, was directed by the New York Department of Financial Services (NYDFS) to stop minting new tokens. The action, according to the regulator, was brought about by several unresolved issues related to Paxos oversight of its relationship with Binance.

The impact of these crackdowns has been severe. According to a report by crypto-market data provider Kaiko, Binance lost 16% share of global trading volume in Q1 2023. The lawsuit-induced FUD resulted in a radical shake-up of its exchange reserves with users withdrawing funds for self-custody.

Moreover, the net stablecoin outflow reached -$295 million/day recently, which was the largest net outflow in the history of the worlds largest crypto-exchange. Stablecoin liquidity is one of the most crucial parameters to gauge the health of a crypto-trading platform.

The future course for Binance and its native token Binance Coin [BNB] is shrouded in uncertainty. And, most of the investors and analysts in the space would be busy understanding the dynamics to make informed decisions going forward. We, at AMB Crypto, tried to get some help from an unlikely ally ChatGPT

ReadPrice Prediction for Binance Coin (BNB)2023-24

Ever since it burst onto the scene, ChatGPT has become a rage, revolutionizing the way humans interact with AI. People have flooded the AI-powered chatbot with a plethora of use cases to get assistance for literally anything. Right from finding a bug in a code, asking philosophical questions about life, getting dating advice, and even writing full-fledged media articles (not this one though).

Put simply, it functions like a conventional chatbot that we have encountered on the customer support section of different e-commerce companies. However, the big difference here is that the communication is more conversational, or to put it in a different way, more human-like.

Well, this is because it has been trained using reinforcement learning from human feedback (RLHF). This helps it understand instructions and generates nuanced responses.

But cryptos? Binance? Are we stretching the limits of ChatGPT? Lets see.

Binance is not new to compliance-related issues in the U.S. In 2019, it ceased to operate in the country and launched a separate exchange, Binance.US, its American arm.

The platforms structure is quite similar to the fallen FTX in the sense that a major part of its administration is being controlled from outside the U.S. Hence, it has always been under the radar of the regulators.

We started to test our AI friend by posing this very sweeping, although controversial, question. Now, the ability of ChatGPT to express itself is hindered because of the restrictions imposed by the creators. To make it speak its mind, we used the jailbreak hack.

As is evident, ChatGPT refused to make it a Binance v. U.S. government binary and highlighted that the exchanges woes are not limited to one market. It acknowledged that Binance is taking steps to correct its image but the future remains in uncertainty. It was quite fascinating to note that ChatGPT steered clear of making definitive statements, something which any expert or analyst in this space wouldve done.

Apart from regulatory concerns, the ecosystems blockchain, BNB Chain, has gained notoriety for rising number of decentralized finance (DeFi) hacks of late. As per a report by ImmuneFi, a Web3 bug bounty platform, BNB Chain was the most targeted chain in Q1 2023 with 33 incidents of hacks and exploits.

Here again, we turn to our AI partner to know if hacks will be the undoing for Binance. This time, it seemed as if it was waiting for this question to be hurled at its end.

ChatGPT said hacks were definitely a cause for concern and advised the developers to prioritize the issue as it may have a damaging effect not just on the adoption of the BNB Chain, but in the value of BNB coin as well.

Well, ChatGPT would be glad to know that its word of caution was taken seriously. To address the security loopholes, BNB Chain soon announced a hard fork which is scheduled to go live on 12 April.

Another thing which caught our attention was the use of BSC rather than BNB in the latest response. Now, its a known fact that Binance Chain and Binance Smart Chain are now collectively referred to as one entity BNB Chain. This change was introduced in February 2022. However, ChatGPT continued to use BSC Chain.

This, because its knowledge cutoff date is September 2021, meaning that it will base its answers on the information available until this date only.

At press time, BNB was the third-largest cryptocurrency (excluding stablecoins) in the sector, with a market cap of more than $49 billion, per CoinMarketCap data. As a result, significant fluctuations in its value could create ripples in the broader crypto-market.

BNB commenced a bullish cycle at the start of 2023, something that has helped it in gaining 27% on a year-to-date (YTD) basis. However, recent hiccups have applied brakes on its momentum. Since the CFTC lawsuit, the coin has shed 4.5% of its value.

Although setting unrealistic expectations amidst this FUD is not the most sensible thing to do, we tried to put ChatGPT under a bit of pressure. We asked whether it sees BNB touching $350 in 2023 given the current state of uncertainty. And, it impressed again.

As was the case earlier, it didnt give a definite value or a price range, which was its USP. Or else it would have felt like a soothsayer predicting the results of FIFA World Cup matches, like Paul the Octopus.

In a very measured way, it outlined factors like market trends, technological developments, and regulatory changes, which will eventually decide the course of any coin. It also called attention to Binances strong DeFi ecosystem which could support BNBs price in the long run.

Enough of the AI praising! Needless to say, it isnt practical to only depend on what an AI tool says when it comes to price predictions and markets. There is nothing like getting the insights of real world experts. Therefore, we got in touch with Marius Grigoras, Chief Executive Officer at BHero and a crypto-expert, to help us out with the same question that we asked to ChatGPT. He stated

While I cannot give a certain answer on whether BNB will reach $350 in 2023, we must consider the general market dynamics. Its evident that the recent regulatory crackdown has taken its toll on the entire crypto market, including BNB. But despite some fluctuations in price which may occur in the short term, I believe BNB possesses the resilience to rebound even stronger in the long haul.

Did you find similarities between the human opinion and the AI opinion?

Is your portfolio green? Check out theBNB Profit Calculator

This week saw the Relative Strength Index stray away from the neutral level that it had maintained for more than two weeks. The RSI headed upwards towards the overbought territory and is currently at 64.60.

The On Balance Volume indicator also displayed signs of volatility as it moved away from its midline towards the top. The OBV is currently at 556 million, indicating a positive volume pressure that could potentially lead to higher prices.

The bears attempted to take BNB past its immediate resistance zone at $333, but failed to push through, marking a second failed attempt in a span of three days. A breach of this level would position $344 as the next resistance zone.

As for the bearish scenario, $305 remains the immediate support zone. At the time of writing, BNB was trading at $331. Data from CoinGlass shows that the open interest on BNB futures went up by 3.6% over the past 24 hours. BNBs total liquidations for the same period came in at $1.08 million.

BNBs Open Interest (OI) or the total dollar value locked in unsettled contracts on Futures exchanges was $308.7 million. The same saw a marginal drop of 0.54% over the last 24 hours, as per Coinglass. Since the CFTC lawsuit, the OI has declined by 12%.

The funding rates across most exchanges seemed to be in green though, indicating the dominance of bullish traders.

Additionally, traders positioning themselves for price gains increased vis--vis those looking for price losses, as the Longs/Shorts Ratio hiked to 1.25%.

Its important to note that these indicators fluctuate on a day-to-day basis and can take a wild turn in no time. Therefore, the next course of action for BNB is tough to predict. Only time will tell whether it will manage to weather this storm.

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I asked ChatGPT whether BNB could recover its lost fortunes, it foresaw - AMBCrypto News

What is XRP?

XRP is a digital currency that facilitates cross-border payments. It is the native currency of the XRP ledger, a decentralized blockchain technology that allows for fast and low-cost transactions. XRP was created by Ripple Labs, a San Francisco-based company that specializes in blockchain-based solutions for financial institutions. The XRP ledger uses a consensus algorithm different from the proof-of-work algorithm used by Bitcoin and other cryptocurrencies. The Ripple Protocol Consensus Algorithm (RPCA) algorithm allows for transactions to be validated in mere seconds.

Hedera (HBAR) is a decentralized public network that is meant to be used for decentralized applications on an enterprise level. It was launched in 2019 by Hedera Hashgraph, a company that is based in Texas. HBAR is the native currency of the Hedera network and is used to pay for transactions on the network. The chain uses a consensus algorithm called the Hashgraph consensus algorithm, which is fast, fair, and efficient.

Ripple (XRP) and Hedera (HBAR) are cryptocurrencies that could benefit from integrating AI solutions like Avorak AI into their chains or dApps. The decentralized AI platform is built on the Binance Smart Chain with a plan to go cross-chain after launch. Its AI-backed tools comprise trading bots, chatbots, and much more. AVRK, the native token, uses machine learning algorithms to analyze data and provide insights that can be used to automate trades and provides accurate trading signals.

The AI-powered crypto platform Avorak AI is currently available in the ongoing presale, offering steep bonuses for early investors that provide funds for development. After the ICO sells out, it will list on the centralized exchange Azbit and the decentralized exchange PancakeSwap.

In conclusion, Ripple (XRP) and Hedera (HBAR) are cryptocurrencies that could benefit from integrating AI solutions like Avorak AI. As the adoption of blockchain technology continues to grow, investors should keep an eye out for AI cryptos like Avorak AI.

Learn more here:

Website: https://avorak.aiBuy AVRK: https://invest.avorak.ai/register

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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XRP and Hedera (HBAR) are two cryptos that could benefit from AI solutions | Bitcoinist.com - Bitcoinist

Polygon (MATIC), a Layer-2 scaling solution for Ethereum, has been a popular choice for developers due to its fast and cheap transactions. However, its future may be in jeopardy as Ethereum transitions to a proof-of-stake (PoS) consensus mechanism, which is expected to significantly reduce gas fees and increase transaction speeds. This has led experts to consider RenQ Finance (RENQ) as a potential replacement for Polygon.

Polygon was designed to address the scalability issues of the Ethereum network by creating a Layer-2 scaling solution that allows developers to build decentralized applications (dApps) with fast and cheap transactions. The platform achieves this by using sidechains, which are essentially separate blockchain networks that can interact with the Ethereum network.

Polygon has gained significant traction in the crypto community, with several popular dApps such as Aave and SushiSwap migrating to the platform to take advantage of its benefits. However, the upcoming Ethereum transition to PoS is expected to render Polygon obsolete as Ethereum itself becomes faster and cheaper.

RenQ Finance is a decentralized finance (DeFi) platform built on the Ethereum blockchain. The platform offers a range of DeFi services, including a DEX, liquidity pools, yield farming, and lending protocols.

What sets RenQ Finance apart from other DeFi projects is its modular and composable architecture, which makes it easier to integrate with other DeFi projects.

RenQ Finance has gained significant attention in the crypto community due to its innovative approach to DeFi and its impressive presale stage, which reached different milestones within a short period. The platform has also been working on building a range of other services, including a launchpad for new projects and an NFT marketplace.

RenQ Finances lending protocol is a standout feature of the platform, providing money markets for both lending and borrowing. Interest rates are determined algorithmically based on the supply and demand of the asset, which improves liquidity, creates transparent interest rates, reduces speculative risks, and streamlines the lending process without the need for a counterparty.

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The platforms technology and use cases make RenQ Finance a promising investment opportunity for those interested in decentralized finance. With its innovative features, strong community support, and potential for growth, RenQ Finance is an attractive option for investors looking to participate in the DeFi space.

Experts believe that RenQ Finance could replace Polygon as a Layer-2 scaling solution for Ethereum due to its speed and low transaction fees. The Ethereum Binance smart chain blockchain on which RenQ Finance is built can handle many transactions per second, making it one of the fastest blockchain networks in the market. This is significantly faster than Polygons current transaction speed, which is limited by the Ethereum networks capacity.

In addition, RenQ Finances modular architecture allows for seamless integration with other DeFi projects, making it an attractive option for developers looking to build on a scalable network. The platforms range of services, including its launchpad for new projects and NFT marketplace, also suggest that it has a bright future ahead.

Furthermore, RenQ Finances early success in its presale stage is a testament to the platforms potential and investor confidence in its future prospects. This could lead to more adoption and growth in the future, making it a viable alternative to Polygon for developers and users alike.

The Ethereum transition to PoS is expected to significantly reduce gas fees and increase transaction speeds, which could render Polygon obsolete as a Layer-2 scaling solution.

RenQ Finance is being seen as a potential replacement due to its speed, low transaction fees, and innovative approach to DeFi. While the future of Polygon is uncertain, RenQ Finances early success and potential for growth make it an attractive investment opportunity for those looking for a scalable blockchain network.

Click Here to Buy RenQ Finance (RENQ) Tokens.

Visit the links below for more information about RenQ Finance (RENQ):

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Polygon (MATIC) Future In Jeopardy Post-Ethereum Transition ... - The Crypto Basic

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New York, New York--(Newsfile Corp. - April 17, 2023) - BRN Token, a metaverse cryptocurrency, will be listed on Gate.io, a leading cryptocurrency exchange, on April 27. Serving more than 13 million users worldwide, Gate.io features over 1,400 cryptocurrencies and boasts a 24-hour trading volume of more than $5 billion. "We're pleased to announce that our BRN Token will be listed on Gate.io later this month," Baran Ozcan says.

Caption: BRN Token, 'Gateway to Metaverse,' Soon to Be Listed on Gate.io

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8552/162636_a7492a5bd4317b32_001full.jpg

Opening Door from Gaming to Metaverse

The BRN Metaverse project aims to build the future of the internet with a new game to be played in the metaverse. Developed on the Binance Smart Chain, the project features a range of innovations in the fields of AI, Web3, GameNFT and GameFI. Driven by AI and based on the play-to-earn (P2E) model, the game lets players compete individually or in teams. They can also earn Tokens while having fun and socializing with other players.

According to Baran Ozcan, the game's beta version is slated to launch in the second quarter of this year. "We aim to open the door from the world of gaming to the metaverse," he explains. "With this project, we hope to advance and popularize Web3 technology, which some have described as the 'new version' of the internet."

'Largest Universe Ever Built'

Of the 320 million BRN Tokens produced, 300 million will be locked for one year, and 20 million tokens will be released. "Our metaverse and Web3-based game will be the largest universe ever built in cryptocurrencies," Baran Ozcan says. "It will serve as a platform for live concerts and social gatherings, while users will be able to earn NFTs by playing games."

"Players can select items from three-dimensional catalogs," he adds. "We will also integrate wearable technologies into cryptocurrency. Thus users with these devices will be able to use them in the metaverse."

All financial transactions in the BRN Metaverse will be conducted with the BRN Token, which is already listed on several leading exchange platforms, such as Coinmarketcap and CoinGecko.

Caption: The BRN Metaverse project aims to build the future of the internet with a new game to be played in the metaverse.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8552/162636_a7492a5bd4317b32_002full.jpg

"At BRN Metaverse, we're looking forward to leading the new Web3 era and creating a permanent world in the metaverse."

Contact:Baran OzcanBRN Metaverse [emailprotected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162636

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BRN Token, 'Gateway to Metaverse,' Soon To Be Listed on Gate.io - StreetInsider.com

Burger King in Paris now accepts Bitcoin, and Ralph Lauren has also recently integrated crypto payments and NFT gifts. However, these cases are the exception rather than the rule. Despite all the advantages that crypto can bring businesses, the merchant adoption rate is still at a low level. So what can we do to facilitate it?

Here, Dmitry Ivanov, CMO at the crypto payments ecosystem CoinsPaid, and an expert in crypto adoption, highlights barriers to merchant crypto adoption.

Demand for crypto payments is rising among both businesses and consumers. Considering the growing trend of crypto payrolls among enterprises, remote workers, and developing nations, digital asset payments might help businesses reach a new audience that is actually willing to spend coins to cover everyday expenses.

As another opportunity for retailers, cryptocurrency shoppers are a crowd with underserved demands in this field, with 40.5 per cent of respondents of CryptoRefills research indicating the lack of merchants and brands that accept crypto as their top problem in 2022.

That said, as part of a major global trend, most enterprises are looking forward to accepting crypto from their customers in the future.

According to a Deloitte study polling 2,000 senior executives at US retail organisations, 85 per cent of the respondents expect digital asset payments to be ubiquitous in their industry in five years. At the same time, another 85 per cent of the participants consider cryptocurrency integration either high priority or very high priority, while about 75 per cent reported plans to accept stablecoin and crypto payments within the next 24 months.

However, major market challenges significantly slow down enterprise crypto adoption, presenting new barriers for merchants. For most of this article, Ill be relying on my teams research to illustrate these problems and find a potential solution.

The high volatility of cryptocurrencies is considered among the top barriers to their payment adoption. Indeed, crypto is among the most volatile asset classes out there. Based on this chart, Bitcoins one-year volatility is three times larger than oils and nearly 13 times higher than that of gold.

Since cryptocurrencies are susceptible to extreme price swings in short periods of time, they pose increased risks for merchants. Even before receiving the payment from the customer, they could lose 5-10% (or even more) of the order value on a day when the market is highly volatile.

Fortunately, this challenge can be easily tackled with stablecoin payments. As their value is pegged to the price of major fiat currencies like the USD and EUR, stablecoins offer an excellent way for both merchants and their customers to minimise the negative impacts of volatility.

Stablecoins can also come in handy during the current bear market conditions. Our Q4 2022 report is the perfect example of this phenomenon, in which my team identified a 488% YoY growth of USDT transactions on the platform in 2022. Such interest in the stablecoin was due to market dynamics, as industry players tend to convert their digital asset positions into stablecoins after a more significant fall.

One of the major downsides of top decentralised blockchain networks is limited scalability. Consequently, they become congested during bull markets and periods of rising user activity, exponentially increasing transaction fees to levels unsuitable for many consumers and businesses.

For example, the average ETH transaction fee typically ranged between $25 and $60 during the peak of 2021s bull market, which made the Ethereum blockchain unviable for small payments. This presents a major problem for both retailers and their customers, as most consumers would be uncomfortable with paying an additional 20 per cent on top of their order value just to use digital assets as a payment method.

Not mentioning the dissatisfaction that may occur for merchants if they have to wait even a minute of extra time receiving a transaction. Instead, they will leave their coins untouched in their wallets and use fiat for shopping.

As I see it, merchants affected by the issue can integrate cryptocurrency payment methods across multiple blockchains. In addition to Bitcoin and Ethereum, it is also a good idea to support digital asset transactions via high-throughput networks like Ethereum layer-two (L2) chains, Solana, Tron, and Binance Smart Chain. While this provides more choices for customers, they also have access to cost-efficient and fast alternatives to settle their payments.

Besides the above two, merchants are facing another challenge with crypto payments: a lack of proper compliance solutions. The lack of regulatory framework in the crypto sector doesnt assist in this matter. As it may be unclear which party is responsible for payment compliance and merchants dont have access to the automated systems they could use to report transactions to regulators, they are assumed to do the whole process manually.

Consequently, for a merchant that accepts hundreds of crypto transactions every day, this means having to expend additional valuable resources to comply with regulations. The good news is that outsourcing this process can easily solve the issue, especially considering that multiple services on the market offer automated transaction reporting and compliance management features.

Crypto payments can help merchants scale their businesses, attract new customers, cut their costs, and reduce the risks of chargebacks. However, mainstream adoption wont come until market players manage to tackle several challenges, such as volatility, gas fees, and automated compliance.

While the market still has plenty of room to mature, retailers already have access to the solutions that can remove most of the barriers to crypto adoption. In the future, cryptocurrency adoption and education among consumers will likely be at high enough levels that it will become a must for every business to accept digital asset payments.

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What Challenges Do We Need to Tackle to Speed Up Merchant ... - The Fintech Times