OKX launched Nitro Spreads, a tool on its institutional liquid marketplace. Traders can execute complex basis trades with one click, using spot, perpetual, and feature contracts. Nitro Spreads stands out in the crypto sphere by executing two legs of trades through a central order book. It offers guaranteed spreads and delta-one spread strategies. Institutions seek reliability, predictable returns, and genuine innovation, making Nitro Spreads an attractive choice. Lennix Lai, OKX’s global chief commercial officer, highlighted its significance in basis trading.

OKX Global Chief Commercial Officer Lennix Lai said: "In the current complex market environment, institutions demand reliability, predictable returns and genuine innovation when choosing a trading venue. This is especially true in basis trading, where precision is paramount. Nitro Spreads raises the bar for the industry for efficient basis trading, and we invite institutional traders everywhere to see how it can enhance their strategies and contribute to their success."

About OKX - OKX is the second-largest global crypto exchange by trading volume and a leading Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.

Official website - https://www.okx.com/
Official announcement - https://www.okx.com/learn/okx-liquid-marketplace-records-over-usd1-billion-in-institutional-trading

The share of Binance’s spot trading market held steady at 56% up until June 19. This is a low not seen since August of the previous year when it fell to 53.7%.

When and Why?
Things took a turn for the worse after the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance and its founder, Changpeng Zhao, on June 5. Following yet another lawsuit from the US Commodity Futures Trading Commission, this blow caused a daily market share to decline to an alarming 47% on April 6.

Titans of traditional finance join the battle -

Regulation-related pressure on cryptocurrency exchanges like Binance is not the only source of it. Traditional financial behemoths like BlackRock Inc. are foraying into the cryptocurrency market in an effort to draw in investors who prefer regulated institutions and establish spot Bitcoin exchange-traded funds.

https://twitter.com/edstromandrew/status/1671183371446390784

Regulatory Hurdles Prompt Exit Strategy
Binance has pulled back from nations including Canada, the Netherlands, and Belgium as a result of the ongoing regulatory hurdles.


What do you think, among these hurdles will Binance still holds the title of the largest holder of customer tokens? Comment your opinion.

Binance, renowned globally for its comprehensive blockchain ecosystem and cryptocurrency services, has unveiled its latest venture – a dedicated digital asset platform in Kazakhstan. This significant development comes after Binance was granted a license by the AIFC Financial Services Authority (AFSA) in October of the previous year.

Binance Scores New Expansion Amid Multiple Withdrawals
The acquisition of the permanent license also elevates Binance to the status of a regulated platform within Kazakhstan, underscoring its strong adherence to compliance and security protocols.

• The exchange will also continue to engage with local regulators to actively advance the adoption of crypto in the country, as well as to develop a robust regulatory framework for digital assets.
• It’s worth noting that Binance obtained its license in Kazakhstan back in October 2022.

Freedom Finance Bank Supports Binance
Freedom Finance Bank in Kazakhstan has created a service for the new exchange’s users, enabling them to transfer fiat funds to their platform account.

Binance keeps moving on with its aim of global expansion despite experiencing regulatory obstacles in several regions. Recently leaving Cyprus and the Netherlands, the business is now negotiating a challenging issue with the SEC. Additionally, it recently had its registration in the UK cancelled. Despite these hurdles, Binance's recent entry into Kazakhstan marks a significant step in its expansion goals and exemplifies the company's tenacity and dedication to broadening its reach internationally.

Official Statement by Binance - https://twitter.com/binance/status/1671498187322925056

Do you think Binance with these launches will help crypto adoption in Central Asia?

Robinhood's delisting ADA

Fintech and crypto firm Robinhood has announced the delisting of cardano (ADA), solana (SOL), and polygon (MATIC) on June 27, 2023. This development comes after the publicly-listed company revealed that it was “actively reviewing” its coin listings in the wake of recent U.S. Securities and Exchange Commission (SEC) enforcement actions against Binance and Coinbase. This announcement caused a significant decline in Cardano (ADA) and other cryptocurrencies.

Cardano Price Prediction

• Sebastian Purcell, CEO of 1.2 Capital Management, sees the SEC issue as resolved for cardano and highlights the ripple vs. SEC lawsuit as the next crucial factor for its future.
• Frank Corva, senior analyst at Finder, expects the SEC's ongoing battle with Binance, affecting ADA's security status, could lead to short-term price drops over the next few years.
• Azzam Sheikh, a digital strategist at money advisor, highlights the Hydra updates's importance for cardano. Ada's price by year-end could range from $0.472 to $0.716, with an average of $0.552.

In general, the price of Cardano has been impacted by the market's uncertainties regarding regulatory actions and legal disputes. Understanding ADA's future trajectory and possibility for recovery will depend heavily on keeping an eye on current happenings, such as the resolution of the Ripple v. SEC litigation and Cardano's development and market adoption progress.

Stay tuned for all the ADA's update and future predictions!! 

Shiba Inu (SHIB) Price Prediction for June 2023

• The CoinMarketCap community expects an average price of $0.00001111 for Shiba Inu ($SHIB) on June 30, 2023, a +62.91% increase from the current price.
• The crypto community's SHIB price predictions over the previous six months have averaged 83.95% accuracy, giving them a viable alternative to AI platforms.
• Despite optimistic price forecasts, Shiba Inu lost approximately 40,000 holdings in three days.
• Overall, Shiba Inu has made small progress despite regulatory pressure and lawsuits against major exchanges, the SHIB community is bullish on the token's valuation.
  

BinanceUS has announced a suspension of USD deposits and potential fiat (USD) withdrawal pause, effective from June 13, 2023. The reason? The SEC’s “extremely aggressive and intimidating tactics” in what Binance.US calls an ideological campaign against the American digital asset industry.

Source - https://twitter.com/BinanceUS/status/1666996908651323393?s=20

Do you think this conflict between Binance.US and the SEC will have a broader impact on the global cryptocurrency market? If so, how? Comment down your opinion.

Tron Surpassed the $0.085 Milestone!

Will it cross $0.1 over the weekend?