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Binance Coin (BNB) Spikes Up: The New Update Followed by a 15% Surge - Global Coin Report
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Binance Coin (BNB) Spikes Up: The New Update Followed by a 15% Surge

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Binance Coin (BNB) has been one of the best-performing coins in the crypto market of 2019. So much so, in fact, that the coin managed to triple its price in less than three months. However, it does not appear that BNB is going to stop growing anytime soon, as the recent update to the Binance Launchpad brought yet another spike up for the coin.

On Saturday, March 24th, at around 09:00 UTC+01, BNB started its new massive 15% surge. The growth allowed the coin’s price to grow from $15 to $17.37, after breaching several significant resistance levels at $15.20, $16, $16.80.

The coin’s growth was stopped by a resistance at $17.40, and the growth was followed by a minor correction. However, BNB never dropped below $16.80, as the strong former resistance at this level now acts as just as strong support. The price then continued to rise once again, until reaching another resistance at $17.

Meanwhile, BNB coin’s price at the time of writing sits at $16.98, with a growth rate of 11.01% in the last 24 hours. The coin also has a fast-growing market cap which continues to approach $2.5 billion, currently sitting at $2,397,665,771, while its trading volume in the last 24 hours grew beyond $360 million.

The new events mark a 180% growth for Binance coin since the beginning of the year. There were many reasons for the growth, including an increased utility that continues to expand nearly every day.

Binance Launchpad gets a new update

Binance Launchpad is a well-known platform created by Binance crypto exchange — the same exchange that developed BNB, which currently acts as its base coin. The platform was created for launching new cryptocurrencies, and while it was created a long time ago, it was not used in 2018 due to the bear market and lack of trust and interest in the ICO model.

However, come 2019, the exchange decided to bring the Launchpad back, and it has seen massive success ever since. The Launchpad holds one token sale per month, and the plan is to do this every month in 2019. So far, it held three token sales including BitTorrent (BTT) which was launched on January 28th, Fetch.AI (FET) which was launched on February 25th, as well as Celer Network (CELR) which was launched on March 19th.

All three token sales were over in less than 15 minutes, with FET being completely sold out within 15 seconds. This brought a very valuable new use case to BNB, as new tokens can only be purchased in exchange for Binance’s native cryptocurrency. The success of the platform inspired other exchanges to come up with a similar concept, such as Huobi and Okex. Even so, Binance Launchpad remains a leading platform for launching new coins, with the massive excited community currently waiting for the next token sale announcement.

As mentioned, Binance Launchpad recently received a new update, one that brought several changes to the platform. The most notable one is a so-called ‘lottery system,’ which will replace the token serving scheme during token launches. Further, users interested in participating in the token sale will have to hold BNB at least 20 days prior to the new token sale. This will allow them to receive a particular number, not unlike a lottery ticket, which will depend on their BNB balance.

The winner of each ticket will get a $500 slot to buy whatever new token is on sale on the Launchpad. Meanwhile, those willing to participate will have to own at least 100 BNB in their balance. According to the coin’s current price, this will cost them around $1,700. However, it is also important to note that there is no guarantee of a return, or that they will win the opportunity to buy new tokens. All that this will provide users with is a fair chance to participate in the sale.

The community reacted to the new update with mixed feelings. Due to the fact that there are no guarantees that anyone will actually be able to buy new tokens, the risks are significantly greater. Further, small-scale investors are essentially robbed of the chance to participate at all. Many view this as Binance favoring the whales, rather than smaller investors.

The new criticism of the exchange also compares the hype to the one that surrounded the ICO model itself back in 2017. While the approach is undoubtedly innovative, there are those who view it as overly-complex and unnecessary. However, there is no doubt that it had a large impact on BNB demand, and in extent — its price.

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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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Top 4 Cryptocurrencies to Bet on in 2019

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The crypto winter ended and Bitcoin is breaking through the $5000 resistance barrier and leading a general charge in bullishness among cryptocurrencies has seen more positivity in the market than ever before. However, before any talk of a crypto spring should start, we need to look at what happened during the winter.

Many different platforms were either fully released or improved upon significantly. There has been a surge of innovation and the crystallization of ideas. The market isn’t just about crypto trading or bitcoin trading; it has become more about what businesses will leverage blockchain in the best way. Investors need to look at what a coin offers beyond just being a cryptocurrency. What partners does it have, what is the long term plan and is it liquid enough?

Investing in altcoins has never been a better option than right now. The volatility index shows that the market is growing without having to rely on Bitcoin. While Bitcoin still determines and up or down trend, the altcoins do not follow this trend exactly. More and more tokens and coins are surviving and thriving on their own merits rather than riding in Bitcoin’s wake.

The four coins to follow are our pick for the top 4 cryptocurrencies most likely to give you substantial returns by the end of 2019.

Stellar Lumens (XLM): Cheap coin, and massive market to grow

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2019 Will Be a Big Year for Luxcore

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With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018.  Even if that comes to fruition, my advice over the past year remains the same.  Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency.  One company that meets both of those requirements is Luxcore (LUX).

What is Luxcore?

Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products.  The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings.  One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.

Exciting Roadmap for 2019

As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent.  Luxcore certainly meets that requirement with the introduction of their most recent roadmap.

The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project.  With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.

Since many crypto projects have inevitably disappointed the market, offering…

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Can XRP Break Out of the Falling Wedge?

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XRP is the third largest cryptocurrency by market cap, which currently sits at around $13.5 billion. The coin also has a price of $0.325316 at the time of writing, after seeing a significant price correction of 4% in the last 24 hours.

Just like many other cryptocurrencies, XRP has seen massive losses during the 2018 bear market. However, this falling wedge seems to have seen a real breakout in 2019, as the crypto winter started to let go, and a lot of coins saw significant price recoveries.

XRP’s falling wedge was much more difficult to stop, which can be seen on its long-term chart. But, the recent bull runs allowed numerous cryptocurrencies to finally see growth, and XRP is definitely one of them. The charts also show that the coin’s falling wedge has seen a breakout, which is an excellent thing for the future of XRP’s price.

However, for the coin’s price to truly turn and stay bullish, XRP needs to see larger volumes. The experts believe that this is the key for a new rally, one which would allow XRP to reach true recovery.

XRP price performance and predictions

As mentioned, XRP had struggled to start growing even when most other cryptocurrencies were drawn in a number of bull runs. While the coin has been acting the same as others until mid-February, it is clear that the…

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