Binance Implements Changes to Tracking and Seed Labels for Altcoins

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Oct 03 2024

BLZ+2.47%

SEI-2.344%

PENDLE-8.327%

Should l Buy BLZ?

Binance Label Changes: Binance has expanded its Tracking Label application to include new altcoins (Bluzelle, CLV, SelfKey, Prosper, VITE) while removing the Seed Label from Pendle and Sei. Tracking Labels indicate higher volatility and risk, while Seed Labels represent innovative projects with similar characteristics.
User Education and Reviews: To enhance user understanding of risks, Binance requires quizzes for altcoins with Tracking or Seed Labels every 90 days. The exchange regularly reviews these labels based on criteria like team commitment and network security to promote a healthier cryptocurrency market.

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Technical Analysis for BLZ

Technical Sentiment Analysis for Bluzelle (BLZ) As of , Bluzelle (BLZ) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BLZ stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BLZ is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bluzelle (BLZ) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0047	0.00856	0.0117	0.0156	0.0187	0.0226	0.0258
Fibonacci	0.00856	0.0112	0.0129	0.0156	0.0183	0.0199	0.0226

About BLZ

Bluzelle is a decentralized storage network for the creator economy.Bluzelle delivers high security, un-matched availability, and is censorship resistant. Whether you are an artist, musician, scientist, publisher, or developer, Bluzelle protects the intellectual property of all creators. Bluzelle is data storage, file storage, oracles, and more. Its is specific for NFTs and DeFi.Bluzelle’s core products are all related to data and powered by its Tendermint Blockchain:Bluzelle DB - a decentralized database for software developers to store informationBluzelle Oracles - a truly decentralized pricing oracle that provides high speed and high security for Defi applicationsBluzelle Staking - where BLZ holders can currently stake their tokens and earn rewards for providing storage and pricing data.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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