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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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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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