Binance, alts, having a blast

Now the third-largest crypto, Binance Coin (BNB), at about 6 a.m. (EST) this morning, hit $620, a new all-time high.

BNB has rocketed more than 1,500% so far this year. It’s up 3,800% over the past 12 months.

In June, Binance will launch Binance NFT, its own dedicated platform for making/trading digital collectibles.

With Bitcoin wallowing in a mid-$50K mud bath, the biggest alts, BNB as well as Ethereum and XRP, are carrying the day.

ETH only a few weeks ago fell below $2,000 but that seems like a past life only recallable under hypnosis. The second-largest-by-market-cap crypto has been enlivened and racking up new ATHs daily – still, yet another one came earlier today, just shy of $2,800.

XRP, meanwhile, rose 10% to $1.55 in the 24 hours that concluded Friday at 7 a.m. (EST). Major moves for major alts ETH, BNB, and XRP have been a huge reason why Bitcoin’s market dominance has declined.

Bitcoin Dominance is a term that can be used several ways, whether to poke fun at equities (e.g. "sure, the Russell 2000 has returned 15% but compare that to ...") or in discussions about what hyperinflation could mean for the future of money.

But in most cases, Bitcoin Dominance refers to the metric comparing BTC’s market capitalization with that of all other crypto assets.

With ETH, BNB, and XRP rallying, and BTC stalled out, might the phrase "Altcoin Dominance" become more prevalent?

BTC's market cap is down to 48% of the total.

At the start of 2021, it was 72%.

Non-fungible tokens (NFTs) have captivated collectors and creative types but there's been an understandable slowdown in the market following several weeks of soaring sales. Trading volumes on OpenSea, for example, fell 21% in April.

Binance hopes to reignite the realm. In June, it’ll launch Binance NFT. If it should turn out that tailwinds carrying NFTs continue to turn into headwinds, Binance seems well-positioned to endure them, Forbes.com said.

Binance's blockchain for decentralized applications and digital assets, Binance Smart Chain (BSC), enjoys most-favored blockchain status, at least in terms of unique active wallets, Forbes pointed out. Additionally, BSC averages almost eight times the number of daily transactions on Ethereum. While the Binance NFT marketplace will be powered by the BSC infrastructure, users also will be able to deposit tokenized artworks from Ethereum and other chains.

Five days after her appointment as the SEC's chief enforcer, Alex Oh has stepped down, citing personal reasons.

In her resignation letter on Wednesday, Oh indicated that a development relating to one of her previous cases would be “an unwelcome distraction,” according to media reports; some outlets have suggested the issue at hand relates to Oh’s work defending Exxon Mobil.

Melissa Hodgman, who had been acting director of the SEC's Enforcement Division and who is now reprising that role, hasn't wasted any time since Oh has been gone, announcing yesterday that eight companies were being charged for failing to disclose in SEC Form 12b-25 filings that their requests, seeking a delayed quarterly or annual reporting filing, specifically related to anticipated restatements or corrections of previous filings.