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Daily crypto opportunities: China teases the bulls, BNB hangs on the edge, and retrodrop from Izumi Finance

Tanja Nechet

News editor

May 25, 2023 at 07:21

G’day, fam! We’ve made the following yummy mix of an interesting ideas for you today 👇

Opportunity #1: China could launch a bull market

Behind the problems of the U.S., everyone forgot about the other super major player in the world — China. Today, instead of the usual technical analysis, we are guessing at secret signals from the Communist Party of China.

CZ, who is always proving to the U.S. authorities that he is not Chinese, tweeted today that he saw a program about crypto on Chinese Central TV — in his opinion, this is a secret government signal and “it may eventually lead to a bull market.” Despite the somewhat bizarre nature of this statement, we need to explain why this is really important.

The fact is that China is now the largest liquidity provider in the world, and its role in the global economy is a little inferior to that of the U.S. Previously, communist China officially banned crypto on its territory, but recently we have seen many signals that the ban is being unofficially lifted. Much has already been written about Hong Kong’s success, but the showing of educational programs about crypto on China’s super-censored television does suggest a loosening of the ban. Given China’s economic power, there is a real reason for CZ’s bold claim of a coming bull market thanks to China.

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Opportunity #2: What’s next for BNB?

Binance Coin (BNB) has formed a downward channel pattern. Traders may consider this an idea to open a long position with a target of $316. According to The News Crypto’s technical analysis:

  • Entry $309
  • Target $316
  • Stop loss $308

However, as of May 25, $BNB has fallen below $309 to $305 and is already near the lower resistance line ($304.9).

A breakdown of the lower line of the descending channel usually indicates a further decline. Therefore, consider all the risks.

Opportunity #3: Retrodrop by Izumi Finance and zkSync: how to participate

Izumi Finance is a DeFi multi-chain that is built on zkSync Era, a Layer 2 protocol that scales Ethereum with cutting-edge ZK tech. Izumi Finance has raised $25 million in investments from Gate, MEXC, Mirana Ventures, and others.

Tokenomics allocated 1% of $IZI for the drop. Also, the project has a second wave of the Ultra Evolution campaign, which will get you points. In addition, Izumi Finance promised to give away half of the tokens they receive from zkSync.

How to become a candidate:

  • Make swaps and add liquidity here;
  • Here you can find the list of partner projects. You can also add liquidity there, which will be an advantage for future drops; 
  • Here, complete tasks and get points.

All information provided on this website is for educational and informational purposes only. Please consult with our Disclaimer.

Home » Insights and analysis » Daily crypto opportunities: China teases the bulls, BNB hangs on the edge, and retrodrop from Izumi Finance

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