Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Top crypto exchange Binance has made an important announcement that might concern XRP, SHIB and ADA holders.
In a new announcement, Binance says it will undertake scheduled system maintenance for Binance Auto-Invest on Feb. 23 at 5:00 (UTC). This update, Binance says, will improve overall system performance and stability and will take about an hour.
As stated in the announcement, the creation of new plans for Auto-Invest will not be impacted during this period. However, scheduled cryptocurrency purchases via existing Auto-Invest plans may be delayed during system maintenance, while these purchases will be automatically executed once the maintenance is complete, where applicable.
Binance's Auto-Invest feature allows users to automate cryptocurrency investments and expand their crypto holdings.
Tomiwabold OlajideUsers can select which cryptocurrencies they want to buy on a daily, weekly, biweekly or monthly basis. Auto-Invest, a dollar-cost averaging (DCA) investment technique, supports more than 200 cryptocurrency assets, including XRP, SHIB and ADA.
Derivative speculation increases as money enters crypto market
According to Santiment, the crypto market has seen a significant surge in investment, which should come as no surprise.
Per the most recent CoinShares report, digital asset investment products received record weekly inflows totaling $2.45 billion. Bitcoin received more than 99% of inflows, while XRP also benefited from the positive sentiment, as reported.
Accompanying the surge of new money into the crypto ecosystem has been an immense increase in derivatives speculation, as crypto market capitalizations have surged dramatically over the last four months.
Bitcoin, for instance, has crossed $10 billion in open interest for the first time since July 2022, indicating that crowd euphoria is still alive and strong.
At the time of writing, XRP, SHIB and ADA were trading at $0.56, $0.00000978 and $0.621, respectively, according to CoinMarketCap data.
Godfrey Benjamin
Arman Shirinyan
Vladislav Sopov
Dan Burgin