Author: Monicah W

Binance, the largest crypto exchange by trading volume metrics, has strengthened its compliance regulations for users in South Africa, aligning with the country’s regulatory demands.

The development comes four years after the exchange’s legal engagements with South African regulators, culminating in Binance amending its offerings.

Binance Tightens Compliance for South African Users

Binance announced stricter regulations for its users in South Africa. Effective April 30, users must provide detailed information on both the sender and receiver of any crypto transactions on the exchange.

“In adherence to local regulatory requirements, Binance will gradually introduce changes to crypto withdrawal and deposit procedures for South African users to make sure we continue operating in full compliance to the local requirements,” Binance announced.  

Specifically, for deposits, users in South Africa will have to provide the sender’s information when receiving any amount of crypto on their Binance exchange accounts. Regarding crypto withdrawals, users must provide the beneficiary’s information when sending any crypto out of their Binance accounts.

Details could comprise the full name, country of residence, and details regarding the originating exchange.

“This update only affects crypto deposits and withdrawals,” Binance articulated.

The exchange will demand these requirements through a pop-up message when performing the affected transactions.

Further, failure to provide these details could result in delayed transactions or failure to execute entirely. This means crypto assets are returned to the originator.

The upending of these requirements follows growing regulatory pressure from South African regulators, who pursue stronger oversight in the sector.  

Meanwhile, this is not the first time Binance has complied with South African regulations. Four years ago, the leading exchange discontinued multiple service offerings in the country, including futures, options, margin trading, and leveraged tokens.

Beyond that, South Africa’s FSCA (Financial Sector Conduct Authority) welcomed Binance’s action to restrict South Africans from opening new accounts to trade derivatives.

This decision was part of the regulator’s push for its citizenry to stick with derivative market transactions with a FAIS Act-compliant Registered Financial Services Provider. FAIS stands for Financial Advisory and Intermediary Services.

Meanwhile, as South Africans brace for new regulations regarding the Binance exchange after April 30, the question arises: Is Kenya next?

Kenya To Start Taxing Crypto Exchanges

Recently, reports indicated that Kenya could begin taxing crypto exchanges for commissions they receive from the country’s over four million digital currency users. However, this move is contingent on the adoption of fresh regulations.

Under the proposed new regulations, which guide the payment of the digital service tax, crypto exchanges operating in Kenya will be required to pay a 1.5% duty.

“For the purposes of these Regulations, a taxable electronic, Internet or digital marketplace supply include… facilitation of online payment for, exchange or transfer of digital assets excluding services exempted under the Act,” the Business Daily reported, citing former Treasury Cabinet Secretary Njuguna Ndung’u.

These comments followed the National Treasury unveiling a Draft National Policy on Virtual Assets and Virtual Asset Service Providers and the Virtual Asset Service Providers Bill, 2024, which aimed to bring clarity and oversight to the digital asset ecosystem.

Such legislation could warrant crypto exchanges operating in Kenya adopting similar requirements as Binance in South Africa.

The post Binance Tightens South African Compliance—Is Kenya Next? appeared first on BeInCrypto.

Cardano (ADA) has recently shown a modest recovery, riding the wave of broader market bullishness, which has brought its price back above $0.70. 

This uptick has sparked renewed optimism among investors, and if the bullish momentum continues, Cardano could see a breakout above $0.80, potentially marking a significant shift in its price trajectory.

Cardano Could End Its Bearishness

Cardano’s technical indicators have recently shown signs of a potential turnaround, especially after a Death Cross formation. Sixteen days ago, the 200-day Exponential Moving Average (EMA) crossed below the 50-day EMA, signaling a bearish trend. This is known as a Death Cross, often seen as a negative signal in technical analysis. 

However, the recent recovery above $0.70 and sustained bullish momentum could see ADA rise above $0.80. Should this reversal happen before April begins, it would mark the shortest Death Cross in Cardano’s history. It would be a sharp contrast to the previous 56-day span from March to May 2020.

On the macro level, Cardano’s bullish momentum is supported by a variety of technical indicators, especially the Relative Strength Index (RSI). Currently above the neutral line at 50.0, the RSI is at a 7-week high, signaling growing investor confidence and increasing buying pressure. The RSI’s upward momentum highlights the market’s positive outlook on ADA, suggesting that Cardano is gaining traction after a period of relative stagnation.

With a strong RSI reading, ADA appears to be benefiting from a resurgence of investor interest, which may help sustain the altcoin’s price gains in the short term. If the bullish momentum continues, Cardano could potentially see significant price increases, pushing it toward new resistance levels and offering an opportunity for profitable trades.

ADA Price Needs To Escape This Zone

Cardano’s price is currently trading at $0.70, marking a 13% increase in the last 24 hours. If this bullish trend continues, ADA will likely encounter resistance around $0.77. Historically, the $0.70 to $0.77 range has been a consolidation zone. A successful breach of $0.77 would signal a further move towards $0.85. 

A breach of $0.77 would reinforce Cardano’s upward momentum, potentially driving its price even higher. Furthermore, a breakout above $0.80 would suggest that Cardano is ready to resume its longer-term bullish trend.

However, the bullish outlook will be invalidated if Cardano fails to maintain its current price levels. If ADA falls back below $0.70 and slips to $0.63, it could erase the recent gains and lead to further declines. In this case, the positive momentum would be considered short-lived, and the bearish trend could be reinforced.

The post Cardano to Witness the Shortest Death Cross in History as Price Crosses $0.70 appeared first on BeInCrypto.

The non-fungible token (NFT) sector experienced explosive growth in 2021. Artists, investors, and collectors were all swept up in the frenzy. Yet, its meteoric rise was followed by a downturn, prompting questions about the sector’s sustainability.

Alexander Salnikov, co-founder of Rarible, believes the market is not facing a collapse but rather a shift. In an exclusive interview with BeInCrypto, Salnikov offered his perspective on the state of NFTs in 2025 and their role moving forward.

Are NFTs Still Relevant in 2025, or Have They Run Their Course?

The rise of NFTs, fueled by excitement and speculation, was inevitable for a market experiencing such rapid innovation. Nonetheless, like many emerging technologies, this early surge was followed by a correction. The hype gave way to the realities of market maturation and sustainability.

According to the latest report by DappRadar, the art NFT market saw an impressive surge in 2021, with trading volumes reaching $2.9 billion. However, by the first quarter of 2025, the trading volume was recorded at just $23.8 million, marking a 93% decline.

Similarly, the number of active traders peaked at a record high of 529,101 in 2022. Yet, this figure sharply declined by 96%, with just 19,575 active traders remaining by Q1 2025. 

A previous industry report from DappRadar revealed that the underwhelming performance wasn’t just a trend in 2025. In fact, 2024 was one of the worst-performing years for the NFT market since 2020. In addition, BeInCrypto also reported on a study that revealed 98% of NFT projects launched in 2024 were essentially “dead.” 

Despite the decline, Rarible’s Salnikov has maintained a positive outlook for the sector. He emphasized the importance of a clear purpose when it comes to NFTs. 

“Once upon a time, after the .com burst, the headlines rang that the internet was only a fad. But as more companies integrated the technology into everyday use cases, it became ingrained as a part of life,” he told BeInCrypto.

Salnikov argued that trust quickly diminishes when NFTs are viewed merely as speculative assets. In contrast, projects rooted in real community engagement or providing tangible utility offer clear value, making their worth easily understood. 

Meanwhile, rather than viewing the sector’s decline as a collapse, the executive sees it as a market recalibration, with the focus shifting away from speculative hype toward projects with more sustainable value. 

“The speculative phase had its moment, but now we’re watching NFTs evolve into actual infrastructure—tools creators use to build communities, products, and new digital economies,” he said.

NFTs Beyond the Hype: Unlocking Real-World Utility 

Salnikov stressed that utility in the NFT space is no longer a distant concept—it is happening right now. Creators are using NFTs for membership, brands for loyalty programs, and games for player identity. 

He pointed to a growing convergence between the digital and physical worlds, with NFTs being tied to merchandise, events, and even real-world assets. Binance Research’s April 2025 report further corroborates this trend. 

The report spotlighted several real-world partnerships, indicating interest in NFTs. Examples include Azuki’s physical-backed NFT with Michael Lau, The Sandbox’s Jurassic World collaboration, EGGRYPTO’s anime characters with Eparida, and Sony’s Soneium platform partnering with LINE to create Web3 mini-apps.

“The next wave of growth isn’t about chasing a trend—it’s about unlocking new types of ownership and access that feel native to the internet generation,” noted Salnikov.

While this perspective offers optimism, the reality for many companies is quite different. Due to low trading volumes, major platforms like Bybit, X2Y2, and Kraken have resorted to discontinuing their NFT services. 

Those that didn’t shut down explored alternative avenues. For instance, Magic Eden expanded beyond NFTs with the acquisition of Slingshot. Nevertheless, Salnikov dismissed this strategy, commenting,

“We’re not trying to bolt on non-NFT features just to stay busy—we’re building NFT commerce that actually fits the communities using it.”

He explained that this approach uses modular, customizable on-chain marketplaces. Creators can tailor them to fit their specific audiences, whether it’s a gaming project, an L3, or a legacy brand.

“NFTs are the feature—they just need the right framing,” the Rarible co-founder stated.

When Fame Fades: The Diminishing Returns of Celebrity-Backed NFTs 

Going back, an interesting trend during the NFT hype era was the involvement of celebrities. High-profile figures like Justin Bieber, Madonna, and Neymar jumped on the bandwagon, attracting substantial attention to the sector. Nonetheless, their investment strategies haven’t fared particularly well.

In January 2022, Bieber spent 500 ETH (approximately $1.3 million at the time) on Bored Ape #3001. This NFT is from Yuga Labs’ Bored Ape Yacht Club (BAYC) collection. 

However, according to the latest data, the NFT is worth only 13.51 WETH (around $24,174), a decline of 98.1%. Although the singer hasn’t sold his NFT, it has received little attention lately, with no promotional efforts or notable discussions around it.

Thus, while celebrities can bring attention to NFTs, this highlights the need for substance beyond the name itself. As Salnikov pointed out, celebrity involvement in the sector is fleeting. 

According to him, a celebrity name alone can’t replace genuine creative direction or a strong community.

“Celebrity drops will come and go—it’s the culture behind them that determines if they stick,” he remarked.

He argued that celebrities treating NFTs as mere merchandise deters audiences. Nevertheless, when an NFT drop is intentional and truly taps into something meaningful like music, fashion, or fandom, that’s where the lasting value is found.

“We’re way more interested in working with creators who are building for the long haul than just chasing headlines,” Salnikov disclosed to BeInCrypto.

The executive also outlined the need for a more accessible and user-friendly approach for attracting interested users. He detailed that onboarding users should not feel “like a tech demo.” Salnikov pointed to Rarible as an example. 

According to him, Rarible focuses on ensuring that each marketplace built on its platform is a product people genuinely want to use. This involves features such as fiat onramps, low-cost mints, a clean user interface, and, most importantly, content that resonates with users. 

“We’re not selling NFTs—we’re powering experiences that just happen to be onchain,” Salnikov concluded.

While the NFT market faces ongoing challenges, it remains to be seen whether the industry is entering a new phase of growth or if further obstacles lie ahead in its evolution.

The post NFT Market Downturn Is a Shift, Not a Collapse, Says Rarible Co-Founder Alexander Salnikov appeared first on BeInCrypto.

As the broader crypto market begins to recover from recent lows, on-chain data reveals a growing behavioral divide between Bitcoin’s long-term and short-term holders.

Its Long-term holders (LTHs) have resumed net accumulation for the first time since the last local top, while short-term holders (STHs) appear to be exiting the market.

BTC LTHs Return to Accumulation as STHs Capitulate

In a new report, pseudonymous CryptoQuant analyst IT Tech noted that a clear behavioral divide has emerged between BTC’s LTHs and STHs, suggesting the early formation of a re-accumulation phase.

This is based on an assessment of BTC’s Net Position Change for Long-Term Holders (LTH), which, per the analyst, has now flipped positive for the first time since BTC’s last local peak.

“This suggests that experienced, conviction-driven participants are gradually returning to accumulation after several months of sustained distribution. Their activity often reflects strategic, cycle-aware repositioning, not necessarily whale-sized capital flows,” the analyst noted.

Meanwhile, BTC STHs—those who have held BTC for less than 155 days—are selling into weakness, with net outflows remaining firmly in negative territory. This trend suggests capitulation, as newer investors reduce their exposure to the coin in response to recent price troubles. 

IT Tech noted that this behavioral divergence “tends to signal early stages of a re-accumulation phase.”

“Suppose long-term participants continue increasing their positions while short-term supply gets flushed out. This setup may serve as a constructive base for future price recovery, even if short-term price action remains choppy,” the analyst said. 

Momentum Builds for Bitcoin as Buying Pressure Surges

On the daily chart, BTC’s positive Chaikin Money Flow (CMF) reflects increasing investor demand and positive cash flow momentum. This further reinforces the possibility of a bullish breakout as projected by the analyst. 

At press time, this momentum indicator, which measures how money flows into and out of an asset, is at 0.10. A positive CMF reading like this indicates that buying pressure outweighs selloffs among market participants and hints at an extended price growth for BTC. 

Moreover, the coin’s Aroon Up Line currently sits at 100%, reinforcing the strength of its ongoing uptrend.

An asset’s Aroon Indicator measures the strength and direction of a trend by tracking the time since the highest and lowest prices over a given period. It comprises two lines: Aroon Up, which measures bullish momentum, and Aroon Down, which tracks bearish pressure. 

As with BTC, when the Aroon Up line is at 100, it signals strong upward momentum and a dominant bullish trend. This suggests that buying pressure is high, and the price may continue rising.

BTC Bulls Eye New Highs

BTC now trades firmly above the key support formed at $91,851. If the bullish pressure holds and demand rockets, the king coin could continue its uptrend to exchange hands at $95,971.

However, if traders resume profit-taking, this bullish projection will be invalidated. In that scenario, BTC’s price could retest the support at $91,851. Should it fail to hold, its price could fall to reach $87,730.

The post How Bitcoin Holders’ Sentiment Split Signals Early Re-Accumulation Phase appeared first on BeInCrypto.

Gate.io Staking officially launched the BTC staking product, with a base APR of 2%. This product provides investors with a secure and stable way to grow their digital assets. By staking BTC, users can earn corresponding returns, which will be distributed in the form of GTBTC. The exchange ratio between GTBTC and BTC is 1 to 1. The amount of return is directly related to the amount of BTC staked by the user.

Web3 Wallet Tasks Help Users Enjoy Higher Returns

At the same time, Gate.io Staking has launched a special 90-day Web3 wallet incentive campaign. During the event, users who complete designated Web3 wallet tasks will receive an additional 1% reward the next day. The event runs from April 22 to July 20.

Users can click “Bonus” on the BTC staking page to view specific task information, or click the “Go to Web3 Tasks” button on the staking complete page to join the campaign and enjoy up to 3% APR easily.

Strict Project Selection Ensures Investment Security

Gate.io Staking is committed to providing users with safe and reliable mining products. Through rigorous protocol reviews and professional risk assessments, the platform conducts in-depth audits of each PoS project. Every staking project is carefully selected. This rigorous selection mechanism provides a solid guarantee for the safety of user assets, allowing users to participate with peace of mind.

Flexible Staking and Redemption Mechanism Empowers User Freedom

The BTC staking product on Gate.io Staking features a flexible staking and redemption mechanism. Users can adjust their asset allocation at any time according to their own needs, without worrying about long-term lock-up of funds. The flexible operation mechanism gives users greater autonomy, enabling them to better respond to market changes and achieve optimal asset allocation.

100% Proof of Reserve Mechanism Secures Asset Safety

To further protect user asset security, Gate.io Staking adopts a 100% Proof of Reserve mechanism, ensuring that each user’s funds are fully backed by sufficient reserves, effectively reducing investment risks. Meanwhile, the platform automatically distributes returns on a daily basis, allowing users to track asset growth in real time and ensuring clear and transparent earnings.

Join Now to Seize the Opportunity for Asset Growth

Gate.io Staking’s new BTC staking product is now officially live, and the Web3 wallet incentive campaign is also underway. Users only need to update their app to version 6.60.0 to access the BTC product and start staking. After completing the Web3 wallet tasks, users can enjoy additional rewards.

With advantages such as professional project selection, a flexible staking and redemption mechanism, and a 100% proof of reserve mechanism, Gate.io Staking provides users with a secure, efficient, and transparent digital asset financial service. Gate.io looks forward to the participation of users worldwide to jointly seize this new opportunity for digital asset growth.

Disclaimer: This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate.io may restrict or prohibit certain services in specific jurisdictions. For more details, please read the User Agreement.

The post Gate.io Staking: BTC Staking Product Newly Launched, Complete Web3 Wallet Tasks to Gain Bonus Returns appeared first on BeInCrypto.

Coinstore, the leading cryptocurrency exchange, has reached 10 million registered users worldwide, marking a significant milestone in its growth journey. This achievement is more than just a number—it reflects Coinstore’s rapid momentum and expanding presence in the crypto industry. To commemorate this extraordinary achievement, Coinstore will host a grand celebration event featuring a $100,000+ prize pool and exclusive rewards for both new and regular users.

When Coinstore reached 10,000,000 users, it marked a pivotal moment in history. Coinstore had already demonstrated its commitment to user security, intuitive design, and responsive customer service. This foundation helped propel Coinstore from a promising newcomer to an established builder in the crypto industry.

“Reaching 10 million users is an extraordinary milestone for Coinstore, but this is just the beginning,” said Johnson, CEO at Coinstore. “While we’re proud of this achievement, we see it as merely the first chapter in our story. Moving forward, we will continue to put our users first in everything we do, from enhancing security and improving user experience to expanding our services and entering new markets. Our users’ trust is the foundation of our success, and we’re committed to building a platform that serves their needs not just today, but well into the future.”

To commemorate this historic 10 million user milestone, Coinstore is unveiling an extensive 10M Celebration campaign running from April 21st to May 8th, 2025. The celebration features an unprecedented lineup of incentives and events with a $1000,000 rewards pool.

Celebrate with Coinstore, $10,000 Giveaway: Celebrate this milestone with Coinstore’s partners while exploring exciting crypto projects and sharing in a $10,000 prize pool. Simple tasks, generous rewards!

10M Users, the Celebration Starts Now: Join our platform campaign to share $100,000 prize pool from 22nd April to 8th May.

Social Media $15,000 airdrop: Join the excitement across our social media channels! With a combined prize pool of $15,000, everyone has a chance to win big. Participate in giveaways, joint airdrops with KOLs, create content for Cointore’s milestones, and test your knowledge in weekly quizzes and polls. Don’t miss these opportunities to engage and win!

A series of exciting spaces in collaboration with our partners and renowned projects awaits! Join us as we dive into meaningful discussions, explore innovative crypto projects, and share insights that shape the future of the industry. To make it even more exciting, there’s a generous prize pool of $6,000 for grabs. Don’t miss this opportunity to connect, learn, and win big!

The two weeks long celebration window ensures maximum participation opportunity for Coinstore’s global community, allowing users across all time zones and schedules to take full advantage of these unprecedented offerings.

This campaign invited ecosystem partners from the Coinstore, including My First Million, RECON, ANTY, Zarraz Dollar, Anryton, Xphere, Airdao, Oxygen Hunters, $GOHOME, RedBelly Network, PussFi, NexBridge, and First Digital to participate together.

Media coverage for the event is supported by partners including BeInCrypto, Coinpedia, M post , Coinedition, Voice Of Crypto, Cryptonite, Coinscapture, TheNewsCrypto, CoinGabbar, Blog Tiền Ảo, DroomDroom, BitPinas, Cryptic Web3, Connect Web 3, The Blockopedia, BitDigest, Geekmetaverse.com, Lydian Labs, Allconfs, TokTimes, 36 Crypto, KTRO Media, AZCoiner, Tiendientu, and Lcadamey.

Coinstore expresses its deepest gratitude to all users for their unwavering support and trust. Reaching 10 million users represents not just a company milestone but a testament to the growing global crypto community. Coinstore pledges to stay at the forefront, developing  solutions that empower users to thrive in this dynamic environment. 

About Coinstore

Accessibility. Security. Equity.

As a leading global platform for cryptocurrency and blockchain technology, Coinstore seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 10 million users worldwide, more than 1,100 listed tokens including 100+ premium digital assets. Coinstore is dedicated to providing secure, professional, and accessible digital asset trading service.

As a pioneer in Launchpad, Coinstore’s Launchpad have shown remarkable performance, with  an average ROI of prime exceeding 1,200%. Coinstore, the first choice for the initial launch.

Official website | Linkedin | Telegram | X

The post Coinstore Hits 10 Million Users Milestone, Join Grand Celebration with $100,000+ Prize Pool appeared first on BeInCrypto.

Onyxcoin (XCN) experienced an impressive rally earlier this month but has struggled to recover from subsequent declines. Despite initial optimism, the altcoin has failed to regain its momentum, leaving XCN holders increasingly impatient. 

As the market sentiment turns uncertain, XCN enthusiasts are questioning the potential for a price uptrend.

Onyxcoin Investors Are Uncertain Of Returns

The current market sentiment for Onyxcoin is largely negative, as reflected in its funding rate. The negative funding rate indicates that more traders are betting against the coin by placing short contracts in the futures market. 

This growing dominance of short positions signals skepticism among investors, who are primarily aiming to profit from a potential price drop rather than expecting upward movement. The market is currently more inclined toward caution, and the lack of confidence in a price uptrend has led to increased bearish sentiment among traders.

Onyxcoin’s macro momentum also presents challenges for investors. The Chaikin Money Flow (CMF) indicator, which measures the volume-weighted average of accumulation and distribution, is currently in negative territory, signaling that outflows are still dominating the market. Although the CMF is slightly rising, it has not been able to sustain any meaningful upward movement. This continued dominance of outflows suggests that XCN is still struggling to maintain bullish momentum.

Until the CMF consistently rises above the zero line, the overall sentiment remains cautious. This inability to gain traction could hinder XCN’s potential to break past key resistance levels, leaving the altcoin vulnerable to further declines.

XCN Price Needs A Boost

XCN price is currently trading at $0.0186, showing a modest 11% increase over the last 24 hours. While the broader crypto market has experienced an uptick, XCN may struggle to hold above its support at $0.0182.

If the altcoin fails to maintain this level, a drop to $0.0150 is likely, marking a two-week low for the token. This would wipe out the recent gains and could trigger further selling as investors look to minimize their losses.

On the other hand, if XCN successfully secures $0.0182 as a support floor, it could signal a potential recovery. In this scenario, the altcoin might rise to $0.0237, invalidating the bearish outlook and providing an opportunity for further gains. However, this will require stronger investor confidence and broader market support.

The post Onyxcoin (XCN) Price’s 11% Rise In 24 Hours May Not Survive For Too Long appeared first on BeInCrypto.