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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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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

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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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.

In the past few…

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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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