Seemingly out of nowhere, Binance Coin (BNB) has exploded over the past 24 hours while the rest of the market stagnates in a growing sea of red. After a series of negative headlines wreaked havoc on the market for the last week(s), Binance Coin (BNB) has been chosen as the favorite currency to lead investors from the darkened corners of the altcoin market, and into the light of positive returns.
The market FUD leading to the current lows across the market came in with a tidal wave of bad news recently. The news cycle began hammering the crypto-universe with stories of Warren Buffet and Charlie Munger repeating their uneducated views on the state of our favorite crypto-company. Calling out Bitcoin (BTC) as a bad investment, old Buffett stirred the alternative currency pot once again expressing more than just general unease about investing in the most famous cryptocurrency. His unease was taken to another level, however, by Berkshire Hathaway’s Vice Chairman, as this ancient curmudgeon likened investing in the market to “trading freshly harvested baby brains.”
Like clockwork, in a seemingly scripted repeat of the market crash from earlier this year, within a week of negative publicity espoused from these shameful fiat cheerleaders, the South Korean government hammered the market with a raid on UPbit, an increasingly popular market responsible for a hefty portion of investments on their side of the world. While UPbit has been found to have done no wrong since the incident, clearing the exchange of the government’s accusations of deceit through an extensive audit, the damage nevertheless was done, and markets sank lower. Finally, if these stories weren’t enough, in an effort to affect market value in an overreach of epic proportions, the Securities and Exchange Commission (SEC) targeted the likes of Ripple (XRP) threatening to weigh in on whether their currency should be considered a security.
With true elegance and grace, however, Binance (the world’s most popular altcoin exchange) has looked straight into the face of market FUD, facing the negativity head-on and lighting a candle for the hodling masses. With a show of strength, Binance has doubled their referral rewards, exciting investors and shining a light on the path to market recovery. With the news, Binance Coin (BNB) has shot up nearly twenty percent, raising the value of the currency alongside the hearts of the crypto community.
With a staggering list of popular currencies to choose from, Binance became known as the fastest-growing startup in history, reaching a billion dollar valuation with record speed earlier this year. The cryptocurrency associated with the exchange, Binance Coin (BNB), is used by participants to cut their fees in half when trading in and out of altcoins on the platform. And with regular coin burns, increasing platform stability and the constant additions of popular currencies, Binance and Binance Coin (BNB) are seen as must-have’s for investors clamoring to trade on our favorite exchange.
Binance Coin (BNB) is now sitting at $US 14.97 and may continue to gain value over the coming day(s). In February, the currency had fallen under US $6.00, crashing along with the entire coin market. The trend however now seems clear, and the current rise of this exchange-based cryptocurrency is bolstering the wallets of a brand new investor class. It would not be too far of a stretch to perceive a near-term future where this popular currency reaches a new all-time high. That reality may come sooner than anyone expects as we enter the next bull run. Get ready.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
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.
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,…
CoinFlip Scores Big with BRD Wallet Partnership
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…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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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