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Fundamental factors put pressure on investors who sold digital assets on Monday under the influence of the fall in the stock market. In the ranking of the top 30 cryptocurrencies, positive daily dynamics + 3%? managed to save Binance Coin (BNB) and Cosmos (ATOM) thanks to the actions of the two largest crypto exchanges.
The Binance platform announced yesterday the launch of an affiliated exchange service Bifinity, which simplifies the process of purchasing and converting between digital currencies and fiat.
The company has been working since last year, solving problems with regulatory documents and access to fiat payment systems in advance. Bifinity operates under EU law with registration in Lithuania, cooperates with fintech startups: Eqonex, Paysafe and Checkout.com.
The new firm’s connections give clients access to pounds, euros and dollars, direct bank and card transfers, SEPA systems and UK services. However, the latter was called into question due to the active opposition of the FCA.
The British regulator has stated an opaque desire to hinder Digivault’s change of ownership process. This Eqonex subsidiary can be transferred to Binance through Bifinity, which provided a commercial loan, which is then converted into an ownership interest.
The growth of Cosmos (ATOM) is indirectly related to the actions of FTX – the largest exchange supported the listing of Terra (Luna) and UST, the algorithmic token of this blockchain pegged to the US dollar. The listing was previously won back by investors who raised LUNA quotes by 10% on Monday, but did not maintain this trend by the end of the session.
Terra is the largest project built on the Cosmos platform, whose ATOM token can become a multi-chain asset. Investors are also watching UST climb higher and higher in the cryptocurrency rankings, providing the ecosystem with liquidity that will surely increase with its listing on the FTX exchange.
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