2023 has been a terrible year for Binance and its branch in the United States. Trading has been generally suppressed across the board. Still, regulators have been circling around Binance like sharks, significantly affecting the exchange’s operations.
Binance, Changpeng Zhao, and Binance.US have all been in the crosshairs of United States key agencies, including the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) filing lawsuits, accusing the exchange of listing unregistered securities and manipulating prices.
Binance’s troubles have impacted the crypto market but $LINK, the token issued by Chainlink, a middleware provider powering decentralized finance (DeFi) and non-fungible tokens (NFTs), has remained relatively firm, bouncing higher in the second half of 2023. Meanwhile, investors have turned their attention to Domini.art ($DOMI), an ambitious crypto project that’s looking to open up access to the global art market using smart contracts and the blockchain. As it is, $DOMI is standing out as one of the best coins to invest in.
This article looks at what has been happening to Binance, effects on $BNB, and why investors are finding opportunities in $LINK and mainly $DOMI, a high-growth cryptocurrency gem that’s dominating blockchain-focused forums in Q3 2023.
What you'll learn 👉
Binance under Pressure, $BNB Dropping
For starters, Binance Global and Binance.US are separate entities. However, Binance.US is affiliated with Binance Global and was created purposefully to serve clients in the United States after the regulators banned citizens from accessing Binance Global.
After the collapse of FTX, led by Sam Bankman-Fried, regulators began cracking the whip and Binance.US came under scrutiny. The SEC and CFTC have filed lawsuits, leading to uncertainty and concern among traders, with most withdrawing funds. As a result, trading volumes have plunged, with dollar deposits halted and the company’s market share now down to just 1%.
Meanwhile, there have been a number of high-profile executive departures from Binance.US in recent months. This has raised concerns about the stability of the exchange and has further dampened trader confidence.
With regulators pressing Binance and executives resigning, $BNB, the native currency of the Binance ecosystem, has been free-falling. $BNB is down 32% from April peaks and is teetering close to a critical support level.
The regulatory pressure on Binance seems to have buoyed other projects, with Chainlink ($LINK) and Domini.art ($DOMI) being major beneficiaries.
Domini and Chainlink in Spotlight, but $DOMI Has More Upside
The trial of Chainlink Cross-Chain Interoperability Protocol (CCIP), a decentralized cross-chain messaging protocol for users to securely send tokens and arbitrary data across multiple blockchains, lifted $LINK. Whale accumulation and transfers from exchanges also improved trader sentiment, cementing its position as one of the best DeFi companies.
However, while $LINK rose, top altcoin traders and investors are confident in Domini.art and its native token, $DOMI. This primarily has to do with Domini.art’s value proposition and what’s at stake for $DOMI. Domini is aiming to revolutionize the multi-billion arts industry by leveraging non-fungible tokens (NFTs) on a transparent and secure base layer, Ethereum.
Through Ethereum, innovative Domini.art developers will have a portal where art enthusiasts will easily connect with premium, often exclusive artworks. The beauty of this arrangement lies in its simplicity and how Domini.art lowers the barrier to entry. Because of fractionalization, made possible by NFTs, anyone anywhere can buy a portion of the premium art piece, effectively diversifying their crypto portfolios.
What’s more? Domini.art has their NFT marketplace where art owners can flip their fractions for profit. This arrangement means that the platform provides an opportunity for users to earn while concurrently empowering artists for their timeless creations. By using technology, their security, transparency, and freedom since all operations and transactions are visible, and can be tracked. There is no room for manipulation or walling out some investors.
In the ongoing presale, $DOMI is available for $0.002625 in stage 1, and is easily one of the best altcoins to buy in September. Already, over 49% of tokens have been sold ahead of stage 2 where prices will rise to $0.00294, benefiting early adopters.
Domini.art provides a gateway to the exclusive yet highly lucrative art world through fractionalization. As BNB remains under pressure, $LINK may be an opportunity to consider. However, for astute traders looking for more potent projects, $DOMI can be an option to explore as analysts expect the token to post more gains on rising adoption.
Learn more about $DOMI here:
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