SEC’s Clampdown Sends Binance Coin Tumbling, Yet Ecoterra’s Eco-Friendly Endeavor Surges to $5 Million – What’s the Explanation?

The United States Securities and Exchange Commission (SEC), on June 5, 2023, filed a lawsuit against Binance, its U.S affiliate Binance.US and the founder and CEO, Changpeng Zhao.

With the recent charge on Binance, its utility token, $BNB, is recording read trends in the market, depicting diminished demand and usage in the crypto space.

Notwithstanding the new eco-friendly project, Ecoterra is surging dramatically, recording up to $5 million in its pre-sale campaign. As such, investors seek to know why meme coin projects are unaffected by the current unforgiving SEC environment.

Price Action for Binance Coin Since Lawsuit Announcement

Since the SEC’s lawsuit against Binance, its utility coin (BNB) ‘s price has been diminishing. It has lost its grip on the bullish trend and has fluctuated in price. When the lawsuit was announced on June 5, 2023, the coin traded with an open price of $305 before declining.

By June 6, BNB’s price dropped significantly as the bears pushed it to $276. Despite that, it attempted to uphold the bullish momentum, recording $281 on June 7.

Notwithstanding, the coin’s price weakness fostered more bearish actions, taking the price from $259 on June 8 to $239 on June 11. Today, June 12, BNB is down by 1.44%, trading at $233.  Considering the price action on BNB, it could record more bearish trends in the next few weeks. 

Also, with the SEC’s action on Binance, many investors could fear further losses, therefore, sell or stop trading activities. Interestingly, while BNB stumbles, $ECOTERRA, a crypto project with eco-friendly promises, has seen tremendous success. 

ECOTERRA Memes Project Taking The Market By Storm With Explosive Potential

Since the beginning of 2023, the crypto industry has seen many projects built in its space with different potentials, including Ecoterra. Ecoterra is a green crypto project operating on the blockchain, projecting potentials that will save the climate and prevent the greenhouse effect.

It aims to achieve this by taking ecological actions involving companies and individuals participating in recycling activities to earn its utility tokens. Interestingly, the Ecoterra project is presenting itself as a revolutionary crypto project, projecting a green future in agreement with FAO’s clean climate project. The project provides a mobile app to scan barcodes on used products and make recycling and tracking easier for individuals, businesses, and the project team.

Ecoterra deployed a promising strategy called recycly2earn (R2E) to facilitate meeting the project’s goals and objectives. With this recycly2earn (R2E) strategy, all participants in its eco-friendly activities are encouraged by receiving rewards in its utility token and possibly other cryptocurrencies.

Furthermore, with the recycle2earn method deployed, Ecoterra intends to affect the world positively by offsetting carbon in the environment.

The project benefits businesses and individuals in different ways. Individuals must locate a store, large or small, with reverse vending machines (RVMs), use the mobile app to scan the barcode on a used product, recycle it by depositing it into the recycling machine and earn rewards.

On the other hand, businesses will purchase recycled materials like glass, aluminum, or plastic using $ECOTERRA or other cryptocurrencies; this will help provide enough products with Ecoterra tracking barcodes to consumers. With this, businesses could save costs on purchasing these materials at affordable rates.

Also, customers are likely to purchase products featuring Ecoterra barcodes aiming to get a reward, therefore benefitting the businesses. Considering these remarkable efforts to reduce carbon emissions into the atmosphere, the green crypto eco-friendly project, Ecoterra, poses potential that could take the market by storm.

ECOTERRA Raises $5 Million in The Short-Term

Notably, the Ecoterra project has seen tremendous success shortly after its launch. This could be due to the potential it projects as a sustainable crypto project to alleviate the greenhouse effect.

The friendly crypto project stated how its Initial Coin Offering (ICO) would be executed. It started the pre-sale on March 29, 2023, and plans to end on June 19, 2023, or possibly before the said date if its market capitalization reaches $6.7 million.

It promised to get its utility token listed across crypto exchanges at $0.01. Since the pre-sale started, $ECOTERRA has been increasing tremendously, from $0.00625 to its current price of 0.0092 as of the time of writing.

Within a few weeks, the pre-sale started, the projects raised over $2,000,000 at a selling price of $0.00625, and on Mar 10, 2023, Binance Feed reported that $ECOTERRA had raised $3.5 million.

According to Binance Feed, the Ecoterra project presents itself as a committed project by having its team’s token locked for one year and will be released monthly for the next three years.

Furthermore, Binance disclosed that Ecoterra is verified, and CertiK has audited it. CertiK is a renowned platform for analyzing and monitoring DeFi projects and blockchain protocols, focusing more on security to rank a new crypto project.

Considering this information about the Ecoterra crypto project and its potential, this could be why investors are interested in the project. Ecoterra reported on June 9, 2023, through its Twitter handle, notably that it has raised $4.9 million. Today, June 12, the team announced again that it had raised $5 million.