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A spokesperson said the move came in response to 'changing market and user needs.' Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson.  The same day, BNB Chain decentralized exchange Biswap tweeted that Binance "has made a difficult decision to disable Binance Connect on 15 August due to its provider closing the supporting card payments service." The Binance spokesperson stated:  "At Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy. In the last six years, Binance has grown from being an exchange to a global blockchain ecosystem with multiple business lines. We consistently adapt and modify our business approach in response to changing market and user needs." Dear Biswappers, The Biswap team keeps abreast of the la...

Ethereum is fast approaching a very particular flippening.  No, ether (ETH) isn’t about to eclipse bitcoin (BTC) in terms of market cap (at least, not yet).  Instead, the raw number of ETH staked inside the Ethereum blockchain is set to surpass the ether kept on crypto exchanges for the first time ever some time over the next few weeks. Earlier this week, there was 22.8 million ETH ($39.75 billion) completely staked compared to almost 24.3 million ETH ($42.38 billion) sitting on exchanges, per Nansen data analyzed by Blockworks. Each represents about 20% of ETH’s circulating supply. That worked out to be only 6.12% more ETH on exchanges than staked. At the end of May, that spread was almost 16%.  At the start of the year, it was more than 41%. It’s not the actual flippening, but it’ll do Overall, there’s 4.9 million fewer ETH ($8 billion) on crypto exchanges than at the start of the year — a 17% reduction. And there’s 5.7 million more ETH ($9.4 billion) locked in the Ether...

"Wild" data shows that more of the BTC supply has been dormant for at least a decade than that available for purchase on exchanges. Bitcoin (BTC) exchanges have less BTC to buy than at any time since early 2018, the latest data shows. On-chain analytics firm Glassnode confirms that as of February 2023, ex change reserves are at five-year lows. "Wild stat" shows Bitcoin supply maturation The latest statistics to reflect the determination of Bitcoin hodlers, major exchanges’ BTC balances are in “down only” mode. As of Feb. 27, the latest date for which data is available, the platforms tracked by Glassnode held a combined 2,272,798 BTC. It was in March 2018 that the number was so low, which March 2020 represents the current all-time high of 3,202,326 BTC. The moment of the COVID-19 cross-market crash, from then on, exchange reserves began to fall, accelerating through the 2022 bear market to stand 29% lower now. Bitcoin exchange balance chart. Source: Glassnode The i...