BingX Blog

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Sonic Blockchain’s Future: Speed, Innovation, and a New Era in DeFi?

Is the blockchain world ready for a new speedster? Imagine a platform so fast and efficient that it could redefine the very fabric of decentralized finance. Enter Sonic Blockchain, the latest evolution from the team behind Fantom. With promises of lightning-fast transactions and groundbreaking innovations, Sonic is poised to make waves in the crypto ocean. But is it all smooth sailing, or are there hidden icebergs ahead? Sonic’s Legal Victory: A Turning Point In a significant development for both the average DeFi user and multiple L1 chains, Sonic Labs secured a legal victory against the Multichain Foundation. The Singapore High Court ruled in favor of Sonic Labs, appointing KPMG as liquidators to oversee the bankruptcy proceedings of Multichain. This move aims to recover funds lost during a 2023 hack that resulted in over $210 million in losses across multiple chains, including Fantom and Ethereum. Sonic Labs’ proactive legal approach not only seeks restitution but also sets a precede
3 min

Daily Crypto Deep Dive with BingX: May 16th, 2025

Join the Trading Community: Learn & Earn with BingX.    Source: TradingView & BingX   The 4-hour chart shows Bitcoin at $103,665, up 1.58% from recent levels after climbing from a low of $101,500 earlier in the period. The price has broken above the resistance at $102,169 and is approaching the previous high of $104,129, supported by the 30-period moving average at $92,789.6 and the 60-period moving average at $87,789.9. The candlestick patterns indicate renewed buying pressure, with a series of bullish candles driving the move, backed by a moderate increase in volume. The RSI on the 4-hour chart is at 68.23, nearing overbought territory, while the MACD shows a bullish crossover, supporting the upward momentum in the short term. On the 1-day chart, Bitcoin’s broader trend remains strongly bullish, with the price rising from $58,846 in late 2024 to the current $103,665, maintaining its position above the $100,000 mark. The daily chart shows the price trading near the
3 min

Sui: Why Investors Are Paying Attention to This New Blockchain Project

What if the next major blockchain challenger didn’t come from Ethereum or Solana, but from a relatively new name like Sui? It boasts sub-second transaction finality, skyrocketing total value locked, and increasing institutional attention. But how much of this momentum is real, and how much is hype? In a market littered with flashy promises and vaporware, Sui is making a serious case for long-term relevance. Let’s peel back the layers of this promising project and see what’s fueling the excitement and whether there are any cracks in its sleek surface. Sui’s Fundamentals: Speed, Scale, and Simplicity Sui, developed by Mysten Labs, is a Layer 1 blockchain built to solve some of the most persistent headaches in crypto. Its unique architecture uses object-centric data models and parallel transaction processing, allowing it to execute thousands of transactions per second with sub-second finality. This makes it attractive not only for financial applications but also for gaming, social, and NF
4 min

Daily Crypto Deep Dive with BingX: May 15th, 2025

Join the Trading Community: Learn & Earn with BingX.    Source: TradingView & BingX   The 4-hour chart shows Bitcoin at $102,009, down 2.12% from recent levels after reaching a high of $104,129 earlier in the period. The price has pulled back to test support near $101,500, which aligns with the 30-period moving average at $93,123.4, while the 60-period moving average sits at $88,012.3. The candlestick patterns reflect increased selling pressure, with a series of bearish candles following the peak, though volume has decreased, suggesting a potential slowdown in the downtrend. The RSI on the 4-hour chart is at 55.67, indicating neutral momentum, while the MACD shows a bearish crossover, pointing to possible further downside in the short term. On the 1-day chart, Bitcoin’s broader trend remains bullish despite the recent correction, with the price having risen from $58,846 in late 2024 to a peak of $104,129 before dropping to $102,009. The daily chart shows the price ho
3 min

How did Institutional Investments Propel Bitcoin Beyond $100K?

Is Bitcoin’s recent surge past $100,000 a fleeting moment or the dawn of a new financial epoch? On May 8, 2025, Bitcoin soared to $101,370, marking its highest point since February. This rally wasn’t just a stroke of luck; it was fueled by a confluence of factors, including a promising U.S.-U.K. trade agreement and a notable decrease in inflation to 2.3%, the lowest since early 2021. These developments have reignited investor confidence, propelling Bitcoin into uncharted territory. Let’s better understand how U.S. Equities and optimism over progression in U.S.-China trade talks has given us some positive influence on the evolving role of Bitcoin in the global financial ecosystem. Institutional Influx: The New Crypto Vanguard Institutional investors are no longer on the sidelines. With Saylor still busy trying to buy more BTC, institutions are at the forefront of Bitcoin’s momentum. In the past three weeks alone, spot Bitcoin ETFs have attracted $5.3 billion in inflows, signaling
3 min

Week #20: Cryptocurrencies with Recent Developments to Watch This Week

The cryptocurrency market continues to tread water with a cautiously optimistic tone as Bitcoin consolidates and investor attention shifts to altcoins. While high-fliers like Ethereum and Aave have captured headlines with outsized gains, a few other assets that haven’t surged yet may hold the most upside as potential late bloomers. This week, we explore several of these under-the-radar performers that could be next in line for a breakout. Chainlink (LINK): Powering Traditional Finance’s Leap into Web3 Chainlink is currently trading at $17.07, reflecting a weekly increase of approximately 2.9%. This modest uptick follows the announcement of its expanded collaboration with SWIFT, the global financial messaging network. The partnership aims to enhance cross-chain interoperability, enabling seamless interactions between traditional financial systems and various blockchain networks. By facilitating tokenized asset transfers across different chains, Chainlink positions itself as a critical i
3 min

Stablecoins Outpace Visa, Driving UAE & KSA's Crypto Growth

In 2024, stablecoin transaction volume reached $27.6 trillion globally, surpassing Visa’s $13 trillion payment volume by 7.7%, outpacing Visa and Mastercard combined. For the UAE and KSA, driving MENA’s crypto surge with 12% annual transaction growth, this milestone underscores stablecoin’s dominance in digital finance. Crypto users, familiar with trading but looking for cash-out options, can capitalize on this trend in regulated markets, leveraging stablecoins like USDT, USDC, and the UAE’s AED pegged AE Coin for remittances and decentralized finance (DeFi). Stablecoin Redefines Transactions Stablecoins processed $15.6-$27.6 trillion in 2024, fueled by low-cost, instant transfers on high-speed blockchains like Solana and Ethereum. In the UAE, stablecoins account for 51% of crypto transactions, with $9.8 billion in exchange inflows, a 55% rise from 2023. KSA’s retail adoption, aligned with Vision 2030’s diversification goals, sees stablecoins powerin
5 min

Daily Crypto Deep Dive with BingX: May 12th, 2025

Join the Trading Community: Learn & Earn with BingX.    Source: TradingView & BingX     The 4-hour chart for BTC/USD shows Bitcoin trading at $104,129, reflecting a continued upward move of 1.92% from recent levels. The price has extended its rally beyond the previous high of $102,169, breaking through the $103,000 resistance and setting a new high at $104,129. This move is well above the 30-period moving average at $92,345.1 and the 60-period moving average at $87,456.8, confirming strong bullish momentum. The candlestick patterns show a series of bullish candles with increasing volume, indicating sustained buying pressure. However, the RSI on the 4-hour chart is at 75.32, deep in overbought territory, and the MACD, while still bullish, is showing signs of flattening, suggesting a potential short-term pullback. On the 1-day chart, Bitcoin’s broader trend remains strongly bullish, with the price soaring from $58,846 in late 2024 to the current $104,129, so
4 min

Daily Crypto Deep Dive with BingX: May 9th, 2025

Join the Trading Community: Learn & Earn with BingX.    Source: TradingView & BingX   The 4-hour chart for BTC/USD shows Bitcoin trading at $102,169, reflecting a strong upward move of 6.29% from recent levels. The price has surged past the previous resistance at $97,956, reaching a new high of $102,169, supported by a breakout above the 30-period moving average at $91,543.2 and the 60-period moving average at $87,123.5. The candlestick patterns display consistent bullish momentum, with a series of strong bullish candles driving the rally, accompanied by a spike in volume, indicating robust buying interest. The RSI on the 4-hour chart is at 72.45, signaling overbought conditions, while the MACD shows a strong bullish trend, though the rapid ascent suggests a potential for a short-term pullback. On the 1-day chart, Bitcoin’s broader trend remains firmly bullish, with the price climbing from $58,846 in late 2024 to the current $102,169, confirming a breakout abov
4 min

Why Are Crypto Prices Surging? The Must-Know Catalysts Fueling the 2025 Rally

What’s really behind Bitcoin’s recent surge past $96,000? Is this the start of a new bull market or just another head fake? In a world where meme coins skyrocket overnight and SEC policies shift like quicksand, understanding what’s really driving crypto prices has become more important than ever. With Bitcoin eyeing new all-time highs and Ethereum, Solana, and other altcoins following close behind, even skeptics are raising eyebrows. Get ready to decode the chaos, because this ride is anything but boring. Bitcoin’s April Rally and Institutional Fuel As of late April 2025, Bitcoin surged above $96,000 from the low $80,000, its highest in two months, catching the attention of institutions and retail investors alike. The recent upswing was largely triggered by favorable economic signals, such as softened inflation expectations in the US, paired with renewed interest from asset managers and hedge funds. The momentum has also been supported by the growing belief that the Federal Reserve ma
4 min

Daily Crypto Deep Dive with BingX: May 7th, 2025

Join the Trading Community: Learn & Earn with BingX.    Source: TradingView & BingX   The 4-hour chart for BTC/USD shows Bitcoin trading at $96,899 as of May 7, 2025, marking an increase of 0.11% from recent levels. The price has surged from a low of $93,770 earlier in the period, breaking above the resistance near $95,000 and approaching the previous high of $97,956. The 30-period moving average at $89,632.9 and the 60-period moving average at $86,582.0 are well below the current price, supporting the short-term bullish momentum. The candlestick patterns indicate strong buying pressure, with a large bullish candle driving the recent breakout, though volume has slightly decreased, suggesting a potential slowdown in momentum. The RSI on the 4-hour chart is at 60.80, indicating a slightly overbought condition, while the MACD shows a bullish crossover, supporting the upward move.   On the 1-day chart, Bitcoin’s broader trend remains bullish, with the price cli
4 min

Week #19: Cryptocurrencies with Recent Developments to Watch This Week

The crypto market is buzzing with fresh momentum this week as key developments across multiple projects spark renewed investor interest. From regulatory breakthroughs to major protocol upgrades and expanding institutional adoption, the digital asset space is seeing a wave of energy that’s hard to ignore. These shifts could signal the start of a new chapter in the evolution of decentralized finance and blockchain innovation. Litecoin (LTC): ETF Optimism Fuels Strong Price Rally As of publication, Litecoin (LTC) is trading at $134.42, marking a 7-day gain of approximately 4.1%. Litecoin has experienced a notable uptick in price, driven by renewed enthusiasm surrounding the potential approval of a Litecoin-based exchange-traded fund. The U.S. Securities and Exchange Commission recently accepted a rule change proposal for a spot Litecoin ETF, and the Depository Trust & Clearing Corporation registered the ticker “LTCC,” signaling preparatory steps toward ETF launch. This institutional m
4 min