Binance Market Update – August 28, 2023

Cryptocurrency markets experienced notable fluctuations in the past 24 hours, as seen by a global market cap of $3.86 trillion. The Bitcoin (BTC) price range today has been between $110,811 and $113,360, with a current trading value of $112,984, showing an increase of 1.81%. While most major cryptocurrencies remain mixed, market leaders TREE, RLC, and NMR achieved notable gains of 46%, 29%, and 27% respectively. 2023-08-28 saw the launch of several Binance initiatives, including Binance Alpha’s introduction of HEMI perpetual contracts with a leverage level of 50x. The Binance Wealth Arena launched a limited-time offer with yields as high as 200%. Meanwhile, the Binance Wallet held an exclusive TGE event for Mitosis (MITO). Meanwhile, market analysis suggests that Bitcoin’s dominance is expected to be challenged by Ethereum in the coming years.