Crypto News Today: Binance Sued, Avorak AI Presale Live, and Arbitrum Airdrop
The cryptocurrency market is extremely reactive to the sentiments of its users. This means that news for a cryptocurrency can either be a barrier or an opportunity for the crypto project to reach new highs. Recent crypto news of Binance being sued, Avorak’s presale, and Arbitrum’s airdrop have led crypto analysts and experienced investors to look at the crypto fear and greed index to make more informed judgments regarding the crypto market.
What is the crypto fear and greed index?
The reactions of buyers and sellers have a significant impact and influence, which amounts to a “Fear and Greed” situation in the market. As such, the crypto fear and greed index is used to examine the users’ sentiments on the crypto market. It is essential to note, however, that the crypto fear and greed index does not necessarily react to long-term effects, but rather it is based on short-term crypto market news and changes.
Arbitrum (ARB) Airdrop
The Arbitrum network is a layer-2 blockchain running on the Ethereum blockchain. The platform aims to scale Ethereum by offering reduced transaction fees and faster processing speeds. Arbitrum recently held an airdrop for their ARB tokens. However, a hacking event left many eligible users without the promised ARB coins. Consequently, investors have become concerned about the safety and reliability of the network. And this has resulted in a further decline in the ARB price.
Binance (BNB) sued
Binance is the largest crypto exchange. The platform was recently sued by the Commodity Futures Trading Commission (CFTC) for alleged violation of US trading laws by allowing Americans to trade crypto derivatives without registering with the Commission. The CFTC also alleges that Binance provided ‘VIP’ users and employees with guidance on how to dodge compliance requirements in the United States. Binance has denied the allegations, and its CEO, Changpeng Zhao, argues that the crypto exchange isn’t subject to US laws because it doesn’t have physical headquarters in the country. Nevertheless, this news has led to the BNB coin falling and a significant decline in crypto-related assets due to what many in the crypto world call FUD (Fear, uncertainty, and doubt).
Avorak AI (AVRK) presale live
Avorak AI is a new AI crypto project. The news for this cryptocurrency has been positive since its presale went live on the first of March. The AVRK token recently went up by more than 100%, indicating growing investor interest.
The Avorak ecosystem combines artificial intelligence and blockchain to provide users with a safe and efficient way of conducting transactions while also giving them access to advanced AI solutions. With this combination, Avorak is at the forefront of blockchain innovation and has consequently been a topic of interest in the crypto community. Crypto watchers from all over the world, such as Crypto Pablo and Crypto Epoch, are talking about its advantages over other cryptocurrencies.
Avorak’s interactive AI, AVA, will encompass an extensive list of AI solutions. Avorak Trade, one of Avorak’s AI products, recently attracted more investors. This has led to the AI crypto project gaining more than 300K just a few days into phase 3 of its ICO.
Conclusion
The lawsuit against Binance by the CFTC has led to a decline in the price of the cryptocurrency. And Arbitrum (ARB) has also continued its decline. However, the Avorak AI presale live is a positive development that may help to boost the overall investor sentiment. The crypto fear and greed index remains relatively stable, indicating that despite some negative news, there is still a sense of optimism in the industry.
To learn more about Avorak AI:
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
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