Official Binance Statement: “Automatic Settlement Will Be Executed”

In its announcement, Binance Futures stated that all open positions will be automatically closed on October 28 and the contracts will be terminated following settlement. With this process, leveraged trading for these contracts will end. Binance advised users to close their positions in advance to avoid risks related to liquidation or price volatility.

Unexpected Price Surge

Following the announcement, both GMT and DOGS tokens experienced a short-term price rally as investors shifted toward the spot market:

• GMT rose by up to 6%, reaching around $0.02,
• DOGS jumped by 9%, testing the $0.00006 level.

Analysts attribute this movement to increased short-term liquidity and off-exchange buying activity following the closure of futures positions.

Market Experts Weigh In

Experts say Binance’s decision is part of its liquidity management strategy. In the past, closing contracts with low trading volumes has often led to short-term volatility in the spot market. However, in the medium term, such measures tend to reduce volatility in the futures market and make the ecosystem more stable overall.

Binance Futures’ decision to end the GMT and DOGS contracts on October 28 is viewed as a routine step within the platform’s risk-management policies. Still, investor reactions in the spot market caused both tokens to see a short-term price increase. Analysts emphasize that this surge is likely a temporary speculative reaction, and they expect the market to stabilize again in the medium term.

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Which Trading Pairs Will Be Delisted?

Starting from 2025-01-17 03:00 (UTC), trading will cease for the following pairs: BNX/BTC, CATI/BNB, CATI/BRL, CHZ/FDUSD, DOGS/BNB, GTC/BTC, HIGH/BTC, LISTA/BRL, NOT/BRL, PIXEL/BTC, TKO/BTC, and TWT/BTC.

What Should Users Do?

To avoid potential losses, Binance has advised users:

1. Those using Spot Trading Bots for the affected pairs should update or cancel their bots before the specified date.
2. The delisting of these pairs will not impact the ability to trade the base and quote assets through other trading pairs available on Binance.

Why Was This Decision Made?

Binance conducts regular evaluations of its trading pairs, considering factors like low liquidity, poor trading volume, and overall market conditions. The goal is to create a safer and more efficient trading environment for investors.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

According to Binance, users can still trade the underlying assets of delisted pairs through other trading pairs on the platform. For the most accurate information, users are advised to refer to the original English version of the announcement.

This decision by Binance could contribute to a more stable market structure.

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2024 became a year where the strong integration of Blockchain with DeSci, artificial intelligence, Telegram bots, and meme coins stood out. DeSci made science more transparent and decentralized, while the combination of artificial intelligence and blockchain introduced innovations in automation and data security. Telegram bots provided new use cases in gaming and finance, while meme coins, by combining community-driven projects with pop culture, brought a fun breath to the crypto world.

These developments highlighted the future potential of blockchain.

2024 Artificial Intelligence and Blockchain Integration

Artificial Intelligence (AI) and Blockchain gained significant momentum in 2024 as two complementary technologies. The speed and accuracy of AI in data analysis, when combined with Blockchain’s transparency and security features, has led to the creation of more efficient and reliable systems.

This integration presents significant opportunities, particularly in financial services, healthcare, and supply chain management. AI algorithms optimize data transactions conducted over Blockchain, enabling smarter decision-making processes.

In 2024, several prominent AI projects made significant strides in integrating Artificial Intelligence (AI) with blockchain technology. Here are some notable examples:

NEAR: Launched in 2020, NEAR is a blockchain platform supporting dApp development with high transaction volume and low fees. In 2024, it integrated AI, introducing an open-source AI model with 1.4 trillion parameters and the NEAR Intents feature. With a market cap of $6.7 billion, it leads among AI-powered crypto projects.

Fetch.ai: The Artificial Superintelligence (ASI) Alliance was founded in 2024 by Fetch.ai, SingularityNET, and Ocean Protocol, aiming to develop decentralized AGI and ASI. The FET, AGIX, and OCEAN tokens will be merged to create the ASI token. Fetch.ai, with a market cap of $3.3 billion, is among the top 50 cryptocurrencies.

Arkham: This blockchain analysis platform enhances transparency by de-anonymizing blockchain transactions. Using AI, it links blockchain addresses to real-world assets. The ARKM token provides access to platform services and is used on Intel Exchange. Launched in 2023, it reached a market cap of $626 million with a token price of $1.99 in 2024.

io.net: A decentralized network providing cost-effective GPU power for AI and machine learning (ML) applications. In 2024, it partnered with Zero1 Labs and secured $30 million in investment, reaching a $1 billion valuation. The IO token facilitates transactions within the ecosystem.

Render: A decentralized GPU rendering platform that collaborated with Stability AI and OTOY in 2024 to develop AI-driven rendering services. The RENDER token facilitates transactions and rewards GPU providers. By November 2024, it reached a market cap of $4.1 billion.

These projects highlight the growing intersection of AI and blockchain, showcasing their potential to transform various industries with decentralized, secure, and efficient solutions.

Another Trend of 2024 Is Telegram Bots

Telegram, with millions of users worldwide, continued to host Blockchain projects in 2024. Telegram bots have become tools that provide users with easy access to Blockchain applications.

In 2024, “tap-to-earn” games on Telegram allowed users to earn cryptocurrency by actively playing. Notable games included Notcoin, Hamster Kombat, and Catizen, offering opportunities to earn tokens such as $NOT, $DOGS, $HMSTR, and $CATI. These games operated on various blockchain networks, including The Open Network (TON) and Solana, facilitating token integration and decentralized transactions.

As this trend gained popularity, major cryptocurrency exchanges like Binance, OKX, Bitget, and KuCoin also joined in.

The Memecoin Frenzy That Shaped 2024

Memecoins are cryptocurrencies inspired by internet memes, with Dogecoin being the pioneer in this space. Created as a joke in 2013, Dogecoin quickly transformed into a serious investment asset with the support of its community. The influence of social media, especially by celebrities like Elon Musk, led to the rapid rise of Dogecoin and other coins like Shiba Inu (SHIB).

Meme coins represent the fun side of the cryptocurrency market while highlighting the impact of community movements and popular culture on financial markets.

According to a CoinGecko study, meme coins have captured nearly a third of investor interest in the cryptocurrency space this year, becoming one of the most attention-grabbing topics.

CoinGecko research analyst Lim Yu Qian noted in a report dated December 23rd that between January 1st and December 21st, meme coins and related categories attracted 31% of investor interest. These coins experienced significant gains and losses throughout the year, while Bitcoin saw a 123% increase in value in 2024.

These tokens are typically high-risk with short-term volatility, but some experienced investors managed to secure quick profits.

Despite fluctuating popularity, the most popular meme coins remained Dogecoin (DOGE) and Shiba Inu (SHIB), with coins like PEPE, Bonk, Pengu, WIF, and Floki also joining the trend and catching the attention of investors.

DeSci: A Decentralized Revolution in the World of Science

Decentralized Science (DeSci) is an approach that aims to make science more transparent, community-driven, and accessible through blockchain technology. Focusing on principles of transparency, decentralization, incentives, and collaboration, DeSci ensures broader access to scientific data, enhances the reliability of research, and promotes collaborations.

With blockchain, data is securely stored, while DAOs (Decentralized Autonomous Organizations) decentralize decision-making processes. IP-NFTs (Intellectual Property Non-Fungible Tokens) enable researchers to retain control over the ownership of their work and commercialize it. By lowering the barriers to entry in science, DeSci fosters greater collaboration, accessibility, and transparency in the research ecosystem.

Decentralized Science (DeSci) gained significant momentum with Binance’s announcement to launch Bio Protocol (BIO) on its Launchpool. This development has given a substantial boost to the DeSci ecosystem, highlighting the growing market interest in decentralized scientific solutions. The introduction of Bio Protocol demonstrates the strengthening integration of blockchain technology in science and research fields.

Furthermore, it aims to decentralize funding and data sharing processes. With Bio Protocol ($BIO) leading the way, the DeSci sector is rapidly expanding, and the rise of projects like $URO and $RIF clearly showcases the market’s confidence and excitement in the transformative potential of DeSci.

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TON reported in an X post: “Block production issues started at 19:19 UTC. The disturbance seems to be due to the heavy load attributed to DOGS token minting.”

TON developers contacted mainnet validators to upgrade and restart their nodes following the suspension, therefore resolving the problem. The TON Community channel on Telegram said on 1:30 a.m. UTC that the network problem has been fixed.

Related: Resistance Dog Boosts Toncoin by 140% Amid Durov Arrest

Attributed also to the “abnormal” volume of transactions on the network generated by the DOGS memecoin, which recently held its airdrop event, the TON blockchain suffered an outage on Tuesday spanning over six hours.  X user “maverickqe,” who claims to be the TON Society’s strategic adviser, reported at the initial outage that validators lost consensus following a longer period of network overload dragging on.

As its creators described strategies to increase the value of the token inside the Telegram ecosystem, the memecoin DOGS based on Telegram attracted major interest among the crypto community. Starting on Monday, DOGS announced that community members would receive 81.5% of the fixed quantity of 550 billion tokens. DOGS reported this week that six million confirmed users asked for the airdrop.

After being released from the French police earlier in the day, Telegram founder and CEO Pavel Durov was charged by a French court on Wednesday. Originally arrested in part of an investigation on claims of Telegram offering tools and services enabling drug trafficking, child pornography, and money laundering, Durov

Toncoin, the native currency of the network, gained 4.31% during the previous 24 hours to trade for $5.60.

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A post on X by Tonk Inu, a TON-based community platform, claims that an excessive amount of DOGS transactions resulted in a “network overload,” therefore causing the network instability. Tonscan’s TON network tracker shows that the last known transaction on TON occurred in block 453418; no fresh blocks have been created since then.

The outage has had a broad effect; crypto exchange ByBit has stopped all deposits and withdrawals to TON until the network is fully restored. TON Foundation member Justin clarified that validators being overwhelmed and losing consensus caused the outage. To get regular network operations back, he said a restart of the validators is planned at 4:00 UTC.

Launched on August 27, the DOGS memecoin attracted interest right away and landed listings on major markets like Binance and OKX. The coin achieved $1.7 billion in trading activity and peaked market value of $891 million within the first 10 hours of its release. DOGS’s price has dropped from its high of $0.0018 to about $0.0013, nevertheless.

The formal rebranding by the TON Society on August 26 coincides with the debut of this canine-themed memecoin. The makeover was a show of solidarity for Telegram developer Pavel Durov, who was just taken into custody by French police. The TON Society changed Toncoin’s profile images and emblem to reflect the “Resistance Dog,” a metaphor of digital opposition and free expression.

The dog emblem comes from 2011 when Durov uploaded an image of his dog, signifying his resistance of directives to filter content on his site, therefore reflecting his unwillingness to stifle criticism. For the TON community, the insignia has since come to represent bravery and optimism.

Reacting to Durov’s incarceration, the TON Society started a “Open Letter Mini App” on Telegram asking French officials to free him. At time of writing, the petition has attracted 1.48 million signatures.

These events have badly impacted the native token of the TON network; it dropped 24% after Durov’s detention and is now trading down 1.7% at $5.22. The wider consequences of this outage on the TON ecosystem and its users remain to be observed as the network strives to resume its activities.

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DOGS, a memecoin that has garnered significant interest among Telegram users, was launched in collaboration with Binance Launchpool. The Telegram bot distributed 400 billion DOGS tokens to users. This popular crypto project managed to reinvigorate Telegram applications after the airdrop distribution.

Notably, users have shown a preference for games similar to DOGS on Telegram. So, which Telegram applications have gained attention due to airdrop expectations?

FROGS

Similar in structure to DOGS, FROGS is a Telegram bot where users complete specific tasks to earn points. Visually, FROGS also shares a similar aesthetic with DOGS. After DOGS’ airdrop, FROGS gained prominence, quickly amassing 500,000 followers on the X platform.

This memecoin project analyzes how long users spend on the platform and initially distributes between 4,000 and 6,000 CATS tokens.

GOATS

Inspired by the acronym “GOAT,” meaning “Greatest of All Time,” the GOATS Telegram bot shares similarities with other platforms. This memecoin, which analyzes how long users have been on the platform and distributes points based on that analysis, has attracted considerable interest.

The platform, which sees between 2 and 3 million monthly users, gained momentum after DOGS’ airdrop. It continues to distribute points based on tasks and conditions.

CATS

The CATS Telegram bot evaluates users’ accounts and distributes points accordingly. Users can earn more CATS by completing additional tasks and meeting certain conditions.

The CATS tokens, accumulated through channel age, following specific accounts, and various referrals, are expected to be distributed via an airdrop soon.

CATS currently reaches between 2 and 3 million users each month.

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DOGS drew around 10 million people straight away three days ago. The exponential success of Telegram is primarily attributed to its Mini App store, where users may earn DOGS tokens for daily check-ins and friend referrals. This has maintained the community vibrant and has helped in its growth.

Expectations are growing as DOGS gets prepared for its August 20, 2024 premiere on significant markets including OKX. After a call auction for DOGS from 11:00 AM to 12:00 PM UTC, OKX has also underlined DOGs/USDT spot trading at 12:00 PM UTC withdrawals for DOGs at 10:00 AM UTC tomorrow, August 21, 2024. For DOGS, this position marks a significant turning point; it is the first native memecoin for Telegram that becomes quite popularity.

With most tokens owned by the community, DOGS has also drawn attention for its original tokenomics even with a small pre-sale investor base. Regular issues in the meme currency market, insider trading, has been addressed and consumers have developed trust thanks to this approach.

As well-known exchanges like Binance and Bybit already indicate as the listing date approaches close, DOGS is most surely going to acquire more attention and reputation in the bitcoin business. Since DOGS is projected to meet the criterion and take center stage in the meme currency market, it is the major subject of debate.

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The DOGS altcoin draws its inspiration from Spotty, a beloved mascot created by Pavel Durov, the founder of The Open Network (TON), for the Telegram community. This connection to a popular messaging app and its charismatic mascot is expected to generate significant interest within the crypto community.

OKX’s pre-launch futures trading feature empowers users to trade on derivatives of cryptocurrencies before their official listing on spot markets. This innovative approach allows traders to capitalize on potential price movements even before the asset becomes widely available.

While the pre-launch listing of DOGS offers exciting trading opportunities, it’s important to note that the total supply of DOGS tokens has not yet been finalized. Any changes in the token issuance plan could lead to significant price fluctuations. OKX strongly advises users to conduct thorough research, implement risk management strategies, and exercise caution when trading in this market.

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What is the DOGS Airdrop?

The DOGS airdrop is a token distribution event where users can claim free $DOGS tokens. The longer you’ve been a Telegram user, the more tokens you’ll be eligible for.

How to Claim Your DOGS Airdrop:

Open Telegram and search for the DOGS bot.

Click “Open” to launch the application.

The page will display your activity duration on Telegram.

Check your activity status: Premium Telegram accounts receive higher rewards.

Verify the amount of DOGS tokens you’ll receive.

Wait for the official claim window announcement.

(Optional) Earn more rewards by sharing your referral link with friends.

Who is Eligible for the DOGS Airdrop?

Anyone with a Telegram account is eligible for the airdrop. However, the amount of $DOGS you receive depends on your Telegram activity. Longer and more active users will be rewarded with a higher number of tokens.

Is the DOGS Airdrop Free?

Yes, participating in the DOGS airdrop is completely free. There are no fees or requirements to qualify.

When is the DOGS Token Launch?

The exact launch date hasn’t been confirmed yet, but it’s expected to happen sometime this month. The project team may list $DOGS on major cryptocurrency exchanges like Coinbase and Binance after the launch.

Stay Updated on the DOGS Airdrop

Follow the project’s social media channels and communities for the latest updates on the airdrop and launch date.

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