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Binance Coin (BNB) is Spiking Big Time: Here’s Why

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Binance Coin
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Binance Coin represents a native token of one of the biggest exchanges in the market, Binance platform. As such, this token comes with a high level of stability in the market as well as with several trading perks in case you chose to pay your fees with BNB on Binance exchange. Binance coin thus makes up for a rather stable coin as Binance arranged its native token to represent a form of amenity on their exchange, so BNB seems to be in a continuous demand in the market. However, BNB showed an extraordinary move in the market for the past couple of days with radically increased trading volumes in the last three days while reaching a flattering price in the meantime. Here is how BNB managed to do so.

Binance Coin Makes a Remarkable Performance

For the past three days, despite the ever so sluggish market, Binance Coin has been showing some amazing performance as it marked radically increased trading volumes during the mentioned period of time.

During the last 72 hours, BNB has had an inflow of buyers causing its trading volume to jump up to and over 300% in the mentioned period alone, which as a consequence helped BNB rise up to the surface of this weeks’ top gainers.

In the last couple of hours, BNB marked a rise of only 1.50% against the dollar, however, Binance Coin made it with over 12% against the dollar yesterday, while it gained almost 5% against this fiat currency the day before.

All these gains collided to crown BNB with a new flattering price of 16.63$ per one unit, which is pretty close to its all-time high of around 21$ per one BNB, which was set back in January.

Binance makes up for a rather young coin when compared to the majority of currencies on the top 20 list, however, it is evident that Binance’s baby came a long way since the first time it was launched.

Binance Coin and the Reason Behind the Recent Spike

As Binance Coin represents the native token of the Binance exchange platform, there are some perks that come with BNB in case you decide to use it for paying for your exchange fees while trading on the mentioned exchange market.

Since there are discounts on fees if you decide to pay with BNB, many investors, those that make big investments, in particular, are more likely to decide to go for buying BNB as well.

That way, the investors get cuts on their fees, while also being able to hold onto BNB for the purpose of investing and HODLing.

One of the reasons for having BNB spiking radically for the past couple of days while gaining over 3o0% increase on its trading volume in the past three days is the fact that Binance has been proactively adding new listings to its platform.

That is how in the past couple of days alone, Binance has added three new digital assets, while providing trading pairs in ETH and BTC for QuarkCoin, BNB, BTC and ETH for SingularityNET, as well as BNB, BTC and ETH trading pairs for the newly added Nexus coin.

However, it is less likely that the trading volume of these small coins affected the trading volume of BNB at such a radical level. There is an explanation for that as well since the new listings weren’t the only thing occupying Binance exchange.

Apparently, as of the most recent case, Binance has added new trading pairs for IOTA, Ripple, Stellar and TrueUSD, which seems to be more likely the reason why BNB has had an amazing return in the last couple of days.

Binance Coin and ChiliZ

One of the factors that might have also affected the rise in the price of Binance Coin might be the latest announcement about the new partnership that was sealed two days ago with an announcement that came out on June 5th.

The announcement stated that Binance coin is ready to enter the entertainment industry with starting their new milestone by sealing the deal with a company called ChiliZ.

ChiliZ is one of the branches in a massive entertainment and sports company based in Malta, called Mediarex.

With Mediarex and ChiliZ, Binance coin is aiming at bringing blockchain technology to the gaming industry in Malta and beyond. It is easy to conclude how these factors positively affected the price of BNB while setting the right mood in the market towards hitting the price of 16.63$ per one unit.

In case BNB continues to rise at this rate of growth, this year might be the last train to buy Binance coin before it becomes a huge deal.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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