This week, on September 29, the four-month incarceration period for Binance founder and former CEO Changpeng Zhao (CZ) will come to an end. His release could significantly impact the cryptocurrency market, as CZ is one of the industry's key figures. Therefore, it's wise to pay attention to six altcoins that are likely to be affected by this event.
Binance Coin (BNB)
The native token of the Binance ecosystem.
When CZ announced collaboration with the U.S. Department of Justice last November, the price of Binance Coin (BNB) dropped by 10%. Following the court's ruling against the exchange's founder in April of this year, the asset price fell again, although not by a significant amount. Current charts indicate a potential price increase, prompting gradual purchases of BNB.
AltLayer (ALT)
A decentralized protocol that facilitates the launching of native and restaking rollups using ZK-Rollups and Optimistic Rollups
Technology for faster and cheaper transactions on the Ethereum network.. The project debuted on Binance Launchpool at the beginning of this year.
Over the past month, the price has been on the rise.
In the last 24 hours, the price of ALT has reached $0.1147 (+15.09%), with a market capitalization increase of 15.10%, now at $254 million, and a trading volume surge of 309.82% — up to $85 million.
Ethena (ENA)
Ethena (ENA) is a protocol linked to the stablecoin Ethena USDe (USDe). The project gained popularity in March after being added to Binance Launchpool, a token launch platform.
Renzo (REZ)
Binance Labs has invested in the Renzo (REZ) protocol to address issues related to liquid restaking. The price of REZ and its trading volume have been rising significantly over the past few days. Within six days, the price increased from $0.03146 to $0.04173 (+32.84%).
Arkham (ARKM)
The token of the analytics platform Arkham (ARKM), which was funded by Binance Labs last November. Following this, the altcoin surged in price.
Over the last 24 hours, the price of ARKM rose by 20.09%, reaching $1.40, with its market capitalization growing by 18.46% to $315 million, and trading volume increasing dramatically by 202.19% — up to $103 million.
Sleepless AI (AI)
Sleepless AI is a gaming Web3 platform that combines blockchain and artificial intelligence. Users can earn AI tokens through staking—the process of locking a certain amount of cryptocurrency to secure and support the operation of the blockchain network. For this, stakers receive rewards—on Binance Launchpool. Over the last 24 hours, AI tokens have increased in price by 14.08%, now costing $0.4948. Market capitalization has grown by 14.07% to $107 million, while trading volume surged by 122.44%, reaching $39 million.
What happened to CZ?
In June 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against CZ and Binance, presenting 13 charges of violating U.S. securities regulations. In November 2023, CZ agreed to step down as CEO of Binance and pay a $50 million fine, admitting guilt to federal charges. Binance also paid a $4.3 billion penalty.
In April 2024, CZ was sentenced to four months in prison for money laundering.
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