Key Points | Feb. 23, 2024 | Nigeria To Ban Binance, AI Tokens Surge

Welcome to BitPinas Key Points: easily digestible news in concise formats for easy reading. Let’s check the latest crypto news stories in the last 24 hours.

Crypto Price Update

Market News

• While some individual cryptocurrencies experienced fluctuations, the market as a whole has seen a slight uptick in the past 24 hours.
• Bitcoin remains steady at at $51,000 market and Ethereum appears poised to climb back to $3,000.
• Solana, however, is approaching the $100 mark.

BNB

Today we have a separate section for BNB, which is up 8.2% in the past 7 days and approaching the $400 mark. Here are some key points we gathered:

• The debut of Portal, a cross-chain gaming platform on Binance Launchpool, sparked increased interest and potential capital inflow towards BNB.
• BNB is required for participating in the Launchpool.
• BNB is currently the only large cap with significant positive returns in the past 7 days, potentially attracting investors because of it.

AI Tokens Surge

• AI tokens are surging, thanks to Nvidia’s earnings report that suggests continued rise of demand in AI products.
  • Nvidia is a leading manufacturer of graphics processing units (GPUs) used in various AI applications like machine learning, deep learning, and natural language processing. So, its strong financial performance is seen as a positive indicator for the entire AI industry.
  • Investors might be interpreting this as increased demand for AI-related technologies, leading them to invest in AI tokens.
• Worldcoin of Openai’s Sam Altman is up 40% vs the previous day and 170% in the last 7 days.
• GRT is up 17% and Render at 23%

Local News

• The world awaits Binance’s future in the Philippines.
• BlockchainSpace’s $GUILD token now on Polygon.
• Superteam says Solana Global Hackathon kicks off in the Philippines this Feb. 29.
• Coinex joins PUP San Juan Career Expo, bringing in internships and other opportunities.

Noteworthy

Binance

• Speaking of Binance, Bloomberg is reporting that Nigeria is moving to block access to the exchange, along with OctaFX, Kraken, and Coinbase.
  • A local publication has reported that the telecoms in the country will be implementing the order.
  • Last year, Nigeria’s SEC said the exchange was operating illegally, which is a different vs the previous year when the regulators said they were looking for ways to partner with Binance.
  • Some Nigerians said they are having issues accessing Binance. Binance is assuring users that funds are safe.
• Check out our article: How to Prepare For Possible Binance Ban in the Philippines

More News

• Reddit has disclosed that it has BTC and ETH holdings. The social media company is preparing for an initial public offering.
• The Craig Wright trial continues. This time, early Bitcoiners are testifying.
• Starkware is revising its token lockup schedule for Starknet after criticism and the widely controversial Starknet airdrop eligibility.
• A16z invests $100 million in Eigenlayer.

This article is published on BitPinas: Key Points | Feb. 23, 2024 | Nigeria To Ban Binance, AI Tokens Surge

Disclaimer:

• Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
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