The positive cryptocurrency market momentum has remained in place for nearly 36 hours without facing any major setbacks. Although there is always some concern as to whether or not this trend will last very long, it seems most markets are making the best of it right now. The Binance Coin price is trying to move up in a decisive fashion, although it lags behind a few other top markets as of right now.
Binance Coin Price Notes Minor Gains
A lot of traders seemed oddly surprised to learn even would suffer from the bearish momentum affecting all other markets over the weekend and throughout Monday. While it is true BNB tends to do things a bit differently from the rest of the markets, one has to keep in mind it too tends to follow bitcoin in good or bad times. Ever since bitcoin decided to move up once again, it seems Binance Coin has taken that lead by example.
Over the past 24 hours, the Binance Coin price has noted a 4.76% gain in USD value to bring the price back to $16.87. There is also a 2.07% increase in BNB/BTC and a 0.97% improvement in BNB/ETH. All of these signs are very promising for BNB holders and speculators, although it remains to be seen if they can all be sustained in the long run. There is nothing wrong with Binance Coin at this point, although there is some dismay on social media regarding the current course of action.
It would appear there are a few interesting developments on the horizon for BNB. Although this token is primarily linked to the Binance exchange, there is also some interest by other exchanges to provide access to BNB. Bitsten, while a rather unknown project, has confirmed they will list Binance Coin in the next few days. While it may not necessarily result in any major price changes, more liquidity is always a good thing.
🔔📢📈
— When 🚀 🌙? (@pokertwitacc)
Another exchange, known as Ice3x, will enable a Binance Coin trading pair against the South African Rand. A very interesting development, primarily because the South African market could prove to be very interesting for all currencies, tokens, and assets alike. While some users expected Ice3x to not list utility tokens, it would appear things are progressing in an interesting direction as of late.
The / trade pair is coming soon to
Keep a close 👀
Our Tokens Market is picking up steam.
Why?
Because we listen …
And our architecture and design allows unlimited tokens
— Eugéne Etsebeth (@etsebeth)
Regardless of the exchange listing news, it would appear most people primarily care about the BNB chart. That is only normal, as this industry is popular primarily because people want to make good money. RektCapital expects more upside for Binance Coin, even though the claims of how BNB made a new ATH is factually incorrect. The actual ATH for BNB is $24.46, a value which hasn’t been reached since early 2018. It seems unlikely that price level will be achieved again in the near future, although that will primarily depend on bitcoin’s momentum.
After making a new ATH, BNB has made a small retrace to successfully claim the previous ATH as a new support
— rektcapital (@rektcapital)
All of the current BNB price momentum looks promising, especially to those who want to get in and out quickly for some easy profits. Those who prefer the long-term game, it remains to be seen where things will stand in a few months from today. The bear market is still not over at this point, thus there is a good chance the market will retrace again in the very near future. When that will happen and how dire things could get, is a big mystery.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com
Published at Wed, 27 Mar 2019 17:27:46 +0000
