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Binance Coin Bucking the Bearish Market

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Binance Coin
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The cryptocurrency market may not be in the best of positions right now in terms of valuation, as prices have considerably slumped across the board. The market leaders, especially Bitcoin, Ethereum, and Ripple have all shown signs of a struggle. While many cryptocurrencies are facing the effects of this price slump, the Binance Coin, or BNB tokens are considerably doing well. Analysts have sighted many reasons behind the stability of Binance Coin, one of them being the nature of the coin. As of 18/06/2018, Binance Coin’s value is $17.01 USD, placing it comfortably within the top 20 cryptocurrencies according to coinmarketcap.

The Binance Coin has been largely overlooked by a majority of the global crypto-community, with only a minority portion enjoying the various benefits it has to offer. With this in mind, Binance Coin can be regarded as a profitable investment for the rest of the year, due in part because of its massive media interest as well as an all-time high, reached last Monday. Indeed the BNB/BTC pair has been receiving quite the push in recent weeks, fuelled by some important factors listed below.

Binance Coin: Judicious Investment

Much of Binance Coin’s success can be attributed to its parent exchange Binance’s success. In the first quarter of 2018, it was reported that Binance had achieved a turnover that has dwarfed that of several high profile banks of the world including heavyweights such as JP Morgan, Deutsche Bank etc. There are two main driving forces behind the success of Binance Coin, which are discussed in brief below.

  1. The Role of Binance Cryptocurrency Exchange: As mentioned before, Binance Coin (BNB) is the native currency of the Binance cryptocurrency exchange, arguably one of the largest and well-known exchanges of its type. As of 2018, the daily trading volumes on the platform reached close to $2 Billion USD, offering more than 100 crypto-pairs to its users.  The Binance team introduced the BNB token back in mid-2017 as the platforms native token, offering various discounts, bonuses and other advantages to its users. Because of this, analysts have unanimously agreed that the price of the coin will grow as Binance gets more customers in the near future.
  2. Addition of Coins: Unlike other well-known crypto exchanges like Coinbase and Bittrex, Binance has remained undeterred by the various KYC/AML restrictions in place. This has allowed Binance to add 15 new tokens to the exchange which will directly result in the appreciation of BNB’s value.

This phenomenon has already been experienced in the last 2 months, where BNB has seen an increase of over 50% of its value. As BNB coins are almost a necessity on the platform, the higher rate of adoption will drive its prices even forward.

Current Market Scenario:

Binance Coin’s value has remained stable despite the market downtrend. This is because the Binance team has made sure that its users are actively trading on the exchange. Besides conducting regular airdrops, Binance has reinstated the community coin of the month, a voting contest to get a particular coin listed on the exchange.  All of this has raised a great degree of positive sentiment from the market, which in turn adds to the coins stability.

Final Thoughts:

As discussed above, various factors have made Binance Coin a favorable asset to hold in the forecasted bearish market for the rest of the year. Especially for someone, looking to hold value in this bearish market, Binance Coin is the answer. It is estimated that Binance Coin’s value would soon cross the $20 mark and could further soar higher as the overall market breaks upwards. For the time being though, Binance Coin looks to stay good, especially since it is backed by such a popular and heavily traded exchange such as Binance.

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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

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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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