Binance Users Anticipate +5% Increase in Ethereum Value by 2026
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Binance is the global ecosystem behind the world’s largest digital asset exchange, a world leader in cryptocurrency and token trading. Following a rocky year for crypto in 2022, during which many cryptos have seen their prices plummet, and exchange platforms have been exposed for their unfit practices and faced a total meltdown, the crypto world has turned to Binance. According to the company’s VP of Public Affairs, Joanne Kubba, the network is committed to working with policymakers and regulatory bodies to ensure the absolute safety and security of every single individual using the platform to further their trading ventures.
Binance’s overarching mission is the long-term sustainable development of crypto trading by adopting and enabling the necessary safety regulations that ensure the protection of the users. When you’re looking how to buy ETH, you must be aware that there are several actions taken behind the scenes that aim to protect your transaction. As blockchain technology is unquestionably the future of finance, Binance is set to be one of the leading organizations committed to building the infrastructure necessary to create an inclusive system. As of December 2022, the exchange platform has joined the Chamber of Digital Commerce in order to help further the creation of a regulatory framework for cryptocurrencies.
According to a Binance spokesperson, the platform is looking forward to working with the Chamber and discovering joint solutions that can work in the long term. This is particularly valuable now the world is getting ready to welcome Web3 and opening up to a new era in the global economy. And while these aspects remain important, traders are still mainly concerned with how feasible their ventures will remain. While Binance is ushering in the future, it hasn’t forgotten its duty towards traders and investors and continues to deliver an optimal experience.
Changes in Ethereum
Ethereum is the blockchain platform hosting the most popular altcoin on the market, Ether. The names of the two are often conflated, with traders referring to the coin itself as Ethereum. However, there are many other cryptos on the platform that you can trade. As ETH is second only to BTC in market capitalization, it is an attractive option for traders, who are convinced that it is more secure than newer market alternatives.
ETH itself hasn’t been on the market long, having had its initial release on July 30th, 2015, after being initially conceived in 2013 by programmer Vitalik Buterin. Ethereum has signaled the arrival of a new era of financial services, popularizing smart contracts, the basis of DeFi, in 2017. Other blockchains have since followed suit and implemented the system themselves. NFTs, the unique tokens representing ownership over an associated asset and currently officially recognized by several institutions and organizations, have also become steadily more popular, to the point that other platforms are using Ethereum-based tokens as well. The ERC-20 is the most well-known example, a technical standard NFT created on the blockchain. It is interchangeable with all other tokens, enabling smart-contract tokens to be exchanged via its medium as well.
On September 15th, 2022, Ethereum made the transition from a proof-of-work consensus mechanism to a proof-of-stake one, reducing energy usage by a staggering 99%. This is good news for investors, many of whom have begun raising questions about the sustainability of the coin. As many are aware, cryptocurrencies use incredible amounts of energy during the mining process, a process deemed by many to be unsustainable, especially in the face of the ongoing climate crisis.
2022 wasn’t the best year for the coin. Ethereum kept losing value, and with the prices plummeting, many investors felt unsure of the future security of their ventures. While analysts and news outlets wanted to maintain their optimism and predicted that Ether’s price could reach values of anywhere between $4,000 to $7,500, the final days of 2022 proved them wrong. Ether ended the year at a value of approximately $1,200, far below the initial predictions.
Trading in 2023
With this aspect in mind, it can seem like continuing to trade in Ethereum is not advisable. However, there’s more to it than meets the eye. Over the past few days, Ether has been on a slowly ascending path, a positive sign that matters are improving. Slow and steady progress is preferable compared to a sudden spike in value that would unquestionably trigger high volatility.
According to Binance, while based on the daily or weekly time frames, Ether is still trending bearish, the four-hour time frame shows a bullish tendency, with the 50-day moving average sloping up. The trending price is overbought, able to keep RSI in the current place for a while. Based on input gathered from Binance users, values are likely to increase by +5% and reach $1,447.81 by 2026.
Expanding portfolios
Trading in Ethereum doesn’t mean focusing solely on ETH to the detriment of all other coins. Expanding the portfolio is vital in investing as it can offer a hedge in the case a crypto’s price drops abruptly and severely. This way, the contents of an entire portfolio don’t go to waste, and the invested capital doesn’t go down the drain.
Binance is set to list several new coins in 2023. Among them could be Tamadoge which has completed a presale campaign that amounted to over $19 million. Battle Infinity is another project that stands out, a play-to-earn fantasy game that operates in conjunction with smart contract agreements and offers NFT rewards.
C+Charge offers its own native token. The coin’s native platform has provided only 8% of its 1 billion token supply to exchanges, meaning that the price is likely to match up to the high standard. Stargate, a liquidity transport protocol, will enable users to access liquidity on a cross-chain basis.
With increased attention to security, Binance is likely to retain many of its dedicated users and attract investors who are now taking the plunge to enter the crypto world.
Featured image via Unsplash.
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