The post Billionaire Kwek Leng Beng’s CDL Sells 84% Of Residential Towers Amid Singapore Property Boom appeared on BitcoinEthereumNews.com. Buyers looking at the Zyon Grand sales gallery over the weekend launch. Courtesy of City Developments City Developments Ltd. (CDL)—controlled by billionaire Kwek Leng Beng and his family—has sold 84% of an upscale residential skyscraper near the Singapore central business district over the weekend, adding to signs the property boom in the city-state is continuing. The Singapore-listed property developer sold 590 units of the 706-unit Zyon Grand twin 62-story residential towers at an average selling price of S$3,050 ($2,351) per square foot, CDL said in a statement over the weekend. The company is jointly developing the project with Japan’s Mitsui Fudosan along Zion Road, near the Orchard Road shopping district. “As one of the largest projects launched this year, the positive take-up reflects the market’s confidence in this landmark integrated development and the genuine demand for distinctive homes in a sought-after neighbourhood,” Sherman Kwek, group CEO of City Developments, said in the statement. Zyon Grand is part of an integrated development that features restaurants, a supermarket, and early childhood care center and a 36-story tower that houses Singapore’s first long-stay serviced apartment complex. The project is one of several prime residential condominium projects that have seen brisk sales in recent weeks. Earlier this month, Billionaire Quek Leng Chan’s GuocoLand sold 86% of the 399-unit Faber Residence in the western Singapore town of Clementi, while UOL Group—controlled by the family of late banking tycoon Wee Cho Yaw—and partner CapitaLand Development have sold nearly all the units at the 666-unit Skye at Holland—an upscale condominium project in the expatriate enclave of Holland Village. Singapore home prices rose for the fourth consecutive quarter in the three months ended September as declining domestic lending rates and an influx of wealthy foreign residents bolstered demand. Prices of private residential properties climbed 0.9% in the third… The post Billionaire Kwek Leng Beng’s CDL Sells 84% Of Residential Towers Amid Singapore Property Boom appeared on BitcoinEthereumNews.com. Buyers looking at the Zyon Grand sales gallery over the weekend launch. Courtesy of City Developments City Developments Ltd. (CDL)—controlled by billionaire Kwek Leng Beng and his family—has sold 84% of an upscale residential skyscraper near the Singapore central business district over the weekend, adding to signs the property boom in the city-state is continuing. The Singapore-listed property developer sold 590 units of the 706-unit Zyon Grand twin 62-story residential towers at an average selling price of S$3,050 ($2,351) per square foot, CDL said in a statement over the weekend. The company is jointly developing the project with Japan’s Mitsui Fudosan along Zion Road, near the Orchard Road shopping district. “As one of the largest projects launched this year, the positive take-up reflects the market’s confidence in this landmark integrated development and the genuine demand for distinctive homes in a sought-after neighbourhood,” Sherman Kwek, group CEO of City Developments, said in the statement. Zyon Grand is part of an integrated development that features restaurants, a supermarket, and early childhood care center and a 36-story tower that houses Singapore’s first long-stay serviced apartment complex. The project is one of several prime residential condominium projects that have seen brisk sales in recent weeks. Earlier this month, Billionaire Quek Leng Chan’s GuocoLand sold 86% of the 399-unit Faber Residence in the western Singapore town of Clementi, while UOL Group—controlled by the family of late banking tycoon Wee Cho Yaw—and partner CapitaLand Development have sold nearly all the units at the 666-unit Skye at Holland—an upscale condominium project in the expatriate enclave of Holland Village. Singapore home prices rose for the fourth consecutive quarter in the three months ended September as declining domestic lending rates and an influx of wealthy foreign residents bolstered demand. Prices of private residential properties climbed 0.9% in the third…

        Highlights:  The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand.  The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones.   The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand.  On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks.  BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity.  On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1.  BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand.  The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones.  BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark.  Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher.    eToro Platform    Best Crypto Exchange   Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users    9.9   Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.