Binance To Retire the Deposit Addresses and Memos of Popular Cryptos – Investors Turn to New Market Entrants
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Binance has been in the news a lot this year due to many legal probes globally.
While the company has lost some market share, it still leads the way in trading volume and continues to improve its product.
Most recently, Binance announced the retirement of several deposit addresses and memos. Still, the exchange's utility token, BNB, remains in limbo.
Yet, investors have shown unwavering confidence in another utility token gearing for Stage 2 of its fast-selling presale.
The Retiring of Deposit Addresses and Memos on Binance Explained
The world's largest crypto exchange has been the subject of many thefts, hacks, and scandals in 2023.
However, Binance received arguably its biggest blow when the SEC (Securities and Exchange Commission) sued them in June.
Despite this, the exchange is preparing to overhaul its wallet infrastructure to improve efficiency and security.
Here, Binance will discontinue the deposit addresses and memos (or destination tags) of 40 coins by the end of September 2023.
The affected coins include Bitcoin (BTC), Cardano (ADA), Solana (SOL), and Polkadot (DOT), among others.
In other news, the exchange listed the much-anticipated PENDLE, a new, trending token in DeFi, to attract users.
Yet, the price action of BNB is reflective of the uncertainty around Binance. While many altcoins produced gains above 50% from mid-June, BNB is around the same value.
BNB increased 17% from $220 to $257 but is now worth $235, almost at the previous low.
Meanwhile, VC Spectra (SPCT) is at the cusp of a more significant surge thanks to its value proposition.
VC Spectra (SPCT) Is Poised To Dominate Decentralized Asset Management
VC Spectra (SPCT) is the latest entrant in decentralized hedge funds, offering investors a chance to profit from the multi-billion-dollar blockchain and technology industries.
All the start-ups that VC Spectra (SPCT) funds will be of a sustainable and ethical nature. The platform upholds transparency and social responsibility to impact the world positively.
At the same time, VC Spectra (SPCT) has an arsenal of methods to generate profits for its investors.
The team behind the protocol comprises experts in trading, venture capital, and technology.
They will pick the best projects from the get-go using a stringent selection process.
Once chosen, VC Spectra (SPCT) will become a trading platform using many discretionary and algo-based strategies.
Investors would only have the simple job of choosing their preferred projects based on what they can afford.
Speaking of the latter, VC Spectra (SPCT) is affordable since no minimum investment requirements apply.
Smart contracts will give users full custody over their assets and offer profits automatically.
You invest and get paid with VC Spectra using SPCT, the native utility currency.
This token provides other advantages, which include quarterly dividends, voting rights, and exclusive discounted access to pre-ICOs.
SPCT is trading at a mere $0.008. But with 29% of tokens left before Stage 2 of the presale, the new value will be $0.011.
Once VC Spectra (SPCT) gets exchange-listed, the forecasted prediction is $0.08, a 900% gain for those buying at the initial price.
While Binance slowly loses market share, VC Spectra (SPCT) is in pole position to dominate a new one.
Learn more about the VC Spectra presale here:
Buy Presale: https://invest.vcspectra.io/login