Binance Coin and Solana Rise 10% ── Bitcoin Stable Over $30,000 | CoinDesk JAPAN | Coin Desk Japan

Native tokens on the BNB chain and the Solana blockchain posted the biggest gains among the major tokens, up 10% over the past 24 hours.

Crypto asset (virtual currency) exchange Binance yesterday announced that the on-chain analysis tool “Arkham”Announcing Token SaleBinance Coin (BNB) rose 6.7% as of 08:50 UTC, recouping all its losses for the week, after stating that it needed Binance Coin (BNB) to participate. ARKM has a hard cap of $2.5 million (approximately ¥350 million) and a maximum contribution limit of $15,000 (approximately ¥2.1 million) per user.

CoinGecko data shows BNB’s trading volume surged to $1.2 billion in 24 hours, quadrupling the previous day’s value, with some big holders trading millions of dollars ahead of ARKM’s sale. Deposited a decent amount of tokens on Binance.

A giant whale deposited 141,835 $BNB ($35M) to #Binance 3 hrs ago through 4 Binance deposit addresses.

The whale may participate in the Arkham (ARKM) token sale.

Due to the purchase cap of 300K $ARKMthe whale deposited $BNB to 4 Binance accounts in order to buy more $ARKM. pic.twitter.com/9hlSCPLlKj

— Lookonchain (@lookonchain) July 11, 2023

Solana’s (SOL) price hike is due to the growth of the Solana-based DeFi ecosystem, which has been locked at around $25 million in value since the beginning of July.

Ethereum’s Layer 2 project Mantle Network has decided to establish a $200 million ecosystem fund. A recent proposal seeks to borrow $100 million from the national treasury and raise another $100 million to support the network’s development over the next three years.

With over 99.5% of the community in favor of the proposal, crypto developers and investors will have a well-funded blockchain to invest in in the next bull market.

Bitcoin (BTC), meanwhile, has held steady above $30,000 despite sluggish market-wide liquidity and trading volume growth. The number of wallets holding at least one bitcoin hit a record high of 1 million 8,737 last week, according to Glassnode data, suggesting a decentralized network.

｜Translation: CoinDesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Midday Mover: BNB, SOL Outperform as Bitcoin Clings to $30K