Emerging DeFi Project Echoes Binance Coin’s Meteoric Rise: A New Challenger Approaches

Crypto analysts are drawing parallels between a promising new DeFi project and Binance Coin's (BNB) early trajectory, sparking excitement in the digital asset community. The unnamed initiative, currently in presale, exhibits characteristics similar to BNB's 2017 debut - particularly its combination of global utility and robust infrastructure design. These were the same hallmarks that helped propel BNB to its current valuation of $538, despite recent volatility in the altcoin market. Notably, Binance's native token has demonstrated remarkable resilience, rebounding from $500 just last week as institutional interest continues to grow. This new project's emergence comes at a time when the DeFi sector is ripe for innovation, with many investors looking for the next breakout star that could mirror BNB's success story.

New DeFi Project Draws Comparisons to Binance Coin's Early Days

Crypto analysts are buzzing about a new DeFi project generating presale momentum reminiscent of Binance Coin's 2017 debut. The unnamed initiative combines global utility with robust infrastructure design - hallmarks that propelled BNB to its current $538 valuation despite recent altcoin volatility.

Binance's native token demonstrates remarkable resilience, bouncing from $500 last week as institutional interest grows in its Layer-2 ecosystem. Market observers maintain $1000 price targets, citing Binance Smart Chain's entrenched position in Web3 infrastructure.

Meanwhile, Remittix (RTX) emerges as a dark horse contender, drawing quiet institutional attention for its practical applications rather than speculative hype. The project's pre-exchange phase mirrors BNB's early trajectory when it traded at single-digit prices before becoming a top-five cryptocurrency.

Indonesia Raises Crypto Tax Rates Effective August 1st, Targeting Offshore Activity

Indonesia is escalating its taxation framework for cryptocurrency transactions, with new rates taking effect August 1. The revised policy significantly increases levies on trades conducted through foreign platforms, underscoring the government's push to monetize a sector that now engages over 20 million users—surpassing traditional stock market participation.

Domestic exchange transactions will now incur a 0.21% tax, up from 0.1%. The most dramatic hike applies to offshore activity, where rates leap from 0.2% to 1%. In a concession to local traders, value-added tax (VAT) for buyers has been eliminated, removing previous charges ranging from 0.11% to 0.22%.

Mining operations face doubled VAT at 2.2%, while a 0.1% special income tax on miners will sunset in 2026—replaced by standard income tax brackets. Tokocrypto, a Binance-affiliated exchange, acknowledged the changes reflect crypto's evolving classification from commodity to financial asset, though industry sentiment remains cautiously optimistic.