Latest news with #BinanceChain
Yahoo
13-05-2025
- Business
- Yahoo
BNB Surges Nearly 5% With Strong Volume Support Suggesting Institutional Accumulation
Global economic uncertainties are reshaping cryptocurrency markets as BNB demonstrates exceptional strength amid escalating trade tensions. The token's impressive performance comes as institutional investors appear to be accumulating positions, evidenced by trading volume nearly doubling to $1.08 billion. Meanwhile, the BNB Chain ecosystem continues expanding its utility through AI integration and reduced gas fees, positioning it favorably against competitors like Solana and Analysis Highlights BNB formed a clear ascending channel with strong volume support at the $657-$658 level, where buying pressure accelerated dramatically, according to CoinDesk Research's technical analysis data model. Volume spiked to 151,956 BNB during the 07:00 hour, nearly 4x the 24-hour average, indicating significant accumulation. Three consecutive high-volume hours between 07:00-11:00 culminated in the strongest volume of 251,202 BNB during the final hour. A head-and-shoulders pattern formed in the final hour with the right shoulder completing around 11:34-11:36, before breaking below the neckline support at $684. Heavy trading volume during the 11:04, 11:15, and 11:21 periods suggests institutional positioning before the reversal. The closing price of $678.07 represents a 1.7% decline from the hour's high, with increasing selling pressure in the final 10 minutes as prices tested the $677 support level. Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. This article may include information from external sources, which are listed below when applicable. External References "Binance's BNB Chain rebounds amid institutional, DeFi adoption", Cointelegraph, published May 7, 2025. "BNB Eyes $700 as CZ Pushes 90% Binance Chain Fee Cut", Coin Edition, published May 10, 2025 Sign in to access your portfolio
Associated Press
09-04-2025
- Business
- Associated Press
BTCS Expands Its Block-Building Capabilities To Include Binance Chain Via Strategic Acquisition
NEWMEDIAWIRE) - BTCS Inc. (NASDAQ: BTCS), the blockchain infrastructure and technology company aiming to expand the market of fee-based products that run on the Ethereum network, further strengthened its position by adding Binance Chain to its block-building operations. With a market cap of around $80 billion, Binance Chain is the fifth-largest cryptocurrency in the market. It is used to enable decentralized finance (DeFi) functions, build decentralized apps or DApps and support non-fungible tokens (NFTs). BTCS says adding Binance Chain to its operations gives it a greater foothold in the Ethereum Virtual Machine or EVM-based ecosystem. Further Strengthening Its Ethereum Chops EVM is a decentralized virtual environment that is known for its consistency and security when executing smart contracts and DApps. BTCS was able to add Binance Chain to its block-building operations through the acquisition of TxBoost, a Binance Chain block builder. The acquisition aligns with its strategy of partnering and/or acquiring key players in the Ethereum ecosystem. 'Builder+ supporting Binance Chain is a natural extension of our Ethereum-focused infrastructure strategy,' Charles Allen, CEO of BTCS, said when announcing the expansion. 'Given Binance Chain's roots as a fork of Ethereum and its EVM compatibility, we're able to leverage components of our existing technology stack to quickly scale, which aligns with our strategic objectives of increasing revenue and improving margins.' Builder+ represents the company's block building operations, utilizing advanced algorithms to construct optimized blocks for on-chain validation designed to maximize validator earnings. It has been driving growth at the company, accounting for about $2.5 million of revenue - more than half of its full-year 2024 revenue. 'In 2024, BTCS solidified its position as the leading publicly traded Ethereum infrastructure company, pioneering block-building operations at scale,' said the company when reporting fourth quarter and full-year earnings results. 'The success of Builder+, which optimizes block construction to maximize transaction fee (gas) revenue, drove record growth, underscoring the strength of both our strategic direction and execution.' For the full year 2024, BTCS reported record revenue of $4.1 million, up 204% from $1.3 million for 2023. For the fourth quarter, revenue of $2.3 million was up 612% from the year-ago quarter and 214% higher sequentially. BTCS expects to replicate that success with the addition of Binance Chain to Builder+ and further scale its operations across compatible blockchains. Driving Future Revenue Growth The addition of Binance Chain to BTCS' block-building operations supports the company's goal to achieve full-year 2025 revenue of $20 million, which it laid out in a recent 8-K filing. BTCS believes the addition of Binance Chain along with other ongoing strategic efforts such as its Scaled Validator Implementation Plan, which is designed to boost vertically integrated validator revenue by 10%, its partnership with ETHGas, which unlocks ultra-low-latency scaling on the Ethereum blockchain enabling transaction confirmations that are lightning fast, and it's Staking Protection Plan, which enhances financial stability and operational security for Ethereum blockchain validators, will help it achieve its goal and create shareholder value. Founded in 2014, BTCS pioneered Bitcoin mining as the first U.S. public company in the space. Over the years, BTCS has shifted its focus to Ethereum, leveraging its expertise to drive growth in validator node operations and block building. Since shifting to Ethereum, BTCS has become a key participant in Ethereum's Proof-of-Stake ecosystem, operating 522 validator nodes.
Associated Press
07-04-2025
- Business
- Associated Press
BTCS Inc. Expands Block-Building Operations to Binance Chain Through Strategic Acquisition
Silver Spring, Maryland--(Newsfile Corp. - April 7, 2025) - BTCS Inc. (NASDAQ: BTCS) ('BTCS' or the 'Company'), a leader in blockchain infrastructure and technology, today announced the expansion of its block-building operations to Binance Chain, the fifth-largest cryptocurrency with a market cap exceeding $80 billion as of April 3, 2025. This move reinforces the Company's commitment to scalable revenue growth. The expansion was accelerated through the strategic acquisition of TxBoost, an established Binance Chain block builder, further strengthening BTCS's position in the rapidly evolving Ethereum Virtual Machine ('EVM') based ecosystem. ' Builder+ supporting Binance Chain is a natural extension of our Ethereum-focused infrastructure strategy," stated Charles Allen, CEO of BTCS. " Given Binance Chain's roots as a fork of Ethereum and its EVM compatibility, we're able to leverage components of our existing technology stack to quickly scale, which aligns with our strategic objectives of increasing revenue and improving margins. ' Builder+ generated significant revenue growth for the Company. In Q4 2024, it generated approximately $2.3 million in revenue, as disclosed in our 2024 Full Year Earnings Release, accounting for more than half of 2024 total revenue. With the addition of Binance Chain to Builder+, BTCS plans to drive revenue growth by strategically expanding operations across compatible blockchains. To view an enhanced version of this graphic, please visit: This initiative is in line with management's desire to achieve the Company's 2025 $20 million revenue performance milestone, as noted in our January 2, 2025, Form 8-K filing. Management believes this initiative-alongside other ongoing strategic efforts-is a meaningful step toward achieving that goal and creating shareholder value. About BTCS: BTCS Inc. (NASDAQ: BTCS) is a U.S.-based blockchain infrastructure technology company currently focused on driving scalable revenue growth through its blockchain infrastructure operations. BTCS has honed its expertise in blockchain network operations, particularly in block building and validator node management. Its branded block-building operation, Builder+, leverages advanced algorithms to optimize block construction for on-chain validation, thus maximizing gas fee revenues. BTCS also supports other blockchain networks by operating validator nodes and staking its crypto assets across multiple proof-of-stake networks, allowing crypto holders to delegate assets to BTCS-managed nodes. In addition, the Company has developed ChainQ, an AI-powered blockchain data analytics platform, which enhances user access and engagement within the blockchain ecosystem. Committed to innovation and adaptability, BTCS is strategically positioned to expand its blockchain operations and infrastructure beyond Ethereum as the ecosystem evolves. Explore how BTCS is revolutionizing blockchain infrastructure in the public markets by visiting Forward-Looking Statements: Certain statements in this press release constitute 'forward-looking statements' within the meaning of the federal securities laws, including statements regarding investment opportunities from Binance Chain, growth of Binance, goals and beliefs with respect to revenue goals and increased margins, and our ability to capitalize on Binance Chain's growth. Words such as 'may,' 'might,' 'will,' 'should,' 'believe,' 'expect,' 'anticipate,' 'estimate,' 'continue,' 'predict,' 'forecast,' 'project,' 'plan,' 'intend' or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon assumptions and are subject to various risks and uncertainties, including without limitation regulatory issues, unanticipated issues integrating Binance Chain into our operations, cybersecurity risks, technological challenges, market adoption risks, competition, changes in blockchain protocols, unexpected issues with Builder+, the reluctance of validators to utilize our Builder+ product, volatility in cryptocurrency markets, and other risks inherent to blockchain technology and cryptocurrency operations, as well as risks set forth in the Company's filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2024 which was filed on March 20, 2025. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements, whether as a result of new information, future events, or otherwise, except as required by law. Twitter: LinkedIn: Facebook: Investor Relations: Charles Allen - CEO X (formerly Twitter): @Charles_BTCS Email: [email protected]
