Mooners and Shakers: Litecoin gains while Bitcoin slips; Binance Australia updates banking situation

The price of Bitcoin is currently banging on the door of US$27k, but there’s no one answering just at the moment. Meanwhile, Litecoin’s on track for gains and Binance Australia has updated where it stands with AUD transactions.

Let’s start with Binance Australia’s latest Twitter announcement posted last night, which really is only a reiteration and further confirmation of what we largely already knew was happening. But it’s not great news, frankly.

The local version of the world’s biggest crypto exchange had previously posted, on May 18, that it had to suspend its PayID AUD deposit service.

“We can confirm that Cuscal, our payment processor’s partner bank, has made the decision to end AUD deposit services,” Binance Australia confirmed with Stockhead at the time.

Now, however, all “deposits and withdrawals via bank transfer are no longer available to Binance users in Australia”.

The same assurance has come from the exchange, however, that users’s funds are safe and that they “can still buy and sell crypto using credit or debit card and our Binance P2P marketplace will also continue to operate as usual”.

Additionally, the exchange notes that Binance Aus users can still convert their AUD balances to USDT for the facilitation of withdrawals and trading activities after June 1.

Flat, flat, prices are flat… well, a fraction down, really. Bitcoin and pals haven’t actually moved higher with the US stock market, as is so often the case in a long story of correlation.

Is it highway to the danger zone for Bitcoin and crypto, then? Some will certainly think so, but then again, not some of the Twittering analysts we regularly check in with. For example…

Although Rekt Capital might not be enjoying the fact BTC appears to have just slipped below his “red box”…

Uppers and downers

Some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

PUMPERS (11-100 market cap position)

• Litecoin (LTC), (market cap: US$6.84 billion) +4%

• The Sandbox (SAND), (market cap: US$1.02 billion) +3%

• Radix (XRD), (market cap: US$692 million) +3%

• Bitget Token (BGB), (market cap: US$670 million) +3%

Litecoin, the world’s second-oldest crypto, is up today as the token’s halving narrative continues to gain some momentum, and as the blockchain’s network activity and unique, non-zero addresses continue to rise.

Some recent positive tweeting from prominent blockchain analytics firm IntoTheBlock has also been creating some buzz for the token.

PUMPERS (lower, lower caps)

• Energy Web Token (EWT), (market cap: US$134 million) +25%

• Selfkey (KEY), (market cap: US$58 million) +20%

• Nuls (NULS), (market cap: US$26 million) +17%

SLUMPERS

• Gate (GT), (market cap: US$582 million) -8%

• XDC Network (XDC), (mc: US$512 million) -7%

• The Graph (GRT), (mc: US$1.13 billion) -7%

• Sui (SUI), (mc: US$489 million) -5%

• Kava (KAVA), (mc: US$543 million) -4%

SLUMPERS (lower, lower caps)

• Refund (RFD), (market cap: US$19 million) -23%

• PIVX (PIVX), (market cap: US$19 million) -18%

• Ben (BEN), (market cap: US$34 million) -17%

• Turbo (TURBO), (market cap: US$19 million) -16%

• Lybra Finance (LBR), (market cap: US$19 million) -14%

Around the blocks

Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.