Scams on Binance’s BNB Chain Highlight Weaknesses in Quality Control; Bitcoin Sags

After two days of gains, bitcoin was sagging again, a familiar posture for a token that has lost more than 70% of its value this year.

Bitcoin (BTC) was down 2.4% over the past 24 hours to trade at roughly $20,300 as investors chewed over a surprisingly strong U.S. GDP report. BTC has occupied a narrow range for much of the past five weeks, although more toward its bottom support of $19,000.

On Thursday, the U.S. Commerce Department reported that GDP rose 2.6% in the third quarter, instead of the projected 2% gain. The increase followed two consecutive quarters of contraction that, according to some rule-of-thumb definitions, would have placed the economy in a recession. Central bankers have been trying to tame inflation without casting the economy into a steep and prolonged recession. The latest GDP suggested their monetary hawkishness has yet to have a full impact.

Dogecoin (DOGE) continued to soar, climbing more than 9% over the past 24 hours as billionaire entrepreneu Elon Musk neared the completion of his $44 billion purchase of social media platform Twitter. Other major altcoins were blended, although tinted more red than green. ADA and CRO were both down about 2%.

.Ether (ETH) remained near $1,550, down more than 3%, ending two consecutive days of healthy gains that took the second largest crypto to highest point since mid-September.
Aptos (APT) saw its APT token rally nearly back to where it started trading last week, before a quick crash that brought ample derision. Analysts said that there may not be an adequate number of sellers left, with many private investors and core contributors subject to a four-year lockup schedule on their token allocations.
Dogecoin (DOGE) continued to soar, climbing more than 9% over the past 24 hours as billionaire entrepreneur Elon Musk neared the completion of his $44 billion purchase of social media platform Twitter. Other major altcoins were blended, although tinted more red than green. ADA and CRO were both down about 2%.

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