Binance US Market Depth Down 76%, Crypto Daily TV 13/6/2023

Binance.US market depth declines 76%

Binance.US is witnessing market makers and traders flee the exchange en masse following last week’s U.S. SEC lawsuit against it, alleging multiple securities violations. Just one week after the lawsuit, liquidity, which is measured by aggregated market depth for 17 tokens on Binance.US, has dropped 76%.

Crypto prices stabilize after plunging on SEC crackdown jitters

Cardano’s coin, the world’s seventh most valuable cryptocurrency, rose more than 1%, while Ripple’s XRP, ranked sixth, is up almost 1%, according to CoinMarketCap. Meanwhile, Binance’s BNB token and Solana’s SOL are still down 4% recently

BTC investment funds see 8th straight week of outflows

Digital asset investment products saw outflows of $88 million last week, the eighth straight week of money exiting crypto funds. Outflows over the eight-week run now total $417 million and coincide with sizable declines in prices across cryptocurrencies following a hot start to the year.

BTC/USD remained largely unchanged in the last session.

Bitcoin-Dollar price remained largely unchanged in the last session. The MACD is giving a negative signal. Support is at 25389.6667 and resistance at 26511.6667

The MACD is currently in the negative zone.

ETH dropped 0.7% against USD in the last session.

The last session saw Ethereum fall 0.7% against the Dollar. The Stochastic-RSI indicates an oversold market. Support is at 1720.381 and resistance at 1791.981

The Stochastic-RSI is signaling an oversold market.

XRP/USD rose 0.8% in the last session.

The Ripple-Dollar pair gained 0.8% in the last session after rising as much as 1.3% during the session. The MACD is giving a negative signal. Support is at 0.4913 and resistance at 0.5438

The MACD is currently in the negative zone.

LTC/USD dropped 0.7% in the last session.

Litecoin dropped 0.7% against the Dollar in the last session. The Stochastic-RSI indicates an oversold market. Support is at 74.8367 and resistance at 80.3767

The Stochastic-RSI points to an oversold market.

Daily Economic Calendar:

US Consumer Price Index

The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services. The US Consumer Price Index will be released at 12:30 GMT, the US Consumer Price Index Core at 12:30 GMT, and the Eurozone’s ZEW Survey – Economic Sentiment at 09:00 GMT.

US Consumer Price Index Core

The Core Consumer Price Index (CPI) measures the changes in the prices of goods and services, excluding food and energy.

EMU ZEW Survey – Economic Sentiment

The ZEW Survey – Economic Sentiment measures institutional investor sentiment, reflecting the difference between the optimistic and pessimistic investors’ share.

DE ZEW Survey – Current Situation

The ZEW Survey – Current Situation measures the current institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and are pessimistic. Germany’s ZEW Survey – Current Situation will be released at 09:00 GMT, the UK’s Claimant Count Change at 06:00 GMT, and the UK’s ILO Unemployment Rate at 06:00 GMT.

UK Claimant Count Change

The Claimant Count Change presents the change in the number of unemployed people in the UK.

UK ILO Unemployment Rate

The ILO Unemployment Rate is the number of unemployed workers divided by the total civilian labor force.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.