Binance Coin Surges as Two More Exchanges (Ice3x, Bitsten) Announce Decision to List BNB Token
As many of our readers are probably well aware of, the crypto market as a whole has been experiencing a lot of positive momentum over the course of the past 36-48 hours. While it remains to be seen how long this bullish momentum is able to sustain itself, it should be pointed out that a number of altcoins in the top-10 (by overall market capitalization) are currently in the ‘green zone’.
Binance Coin Continues Its Impressive Performance
A quick glance at the state of the altcoin market shows us that since yesterday afternoon, Binance Coin has gained an impressive 4.76% against the US Dollar— thereby bringing the price of the token to around $16.85.
Similarly, the altcoin’s value has also increased by 2.07% against BTC and by 0.97% against ETH.
As a result of this upward price movement, many market analysts are now worried as to whether or not the premier digital offering will be able to sustain this level of performance in the weeks and months to come.
Other Key Developments Associated With BNB Coin Worth Bearing in Mind:
- While the BNB token is primarily associated with the Binance trading platform, it appears as though 2 other exchanges, namely Ice3x and Bitsen, will also be listing the premier digital currency on their respective platforms within the coming few days.
- It is being reported that Ice3x will enable the trading of BNB against South Africa’s official fiat currency the ‘Rand’.
- As more and more crypto exchanges continue to list BNB, the alt-asset’s overall liquidity will increase— thereby making it easier for newer crypto enthusiasts to enter this burgeoning market.
More on the Matter
Despite many new exchange platforms announcing their decision to list BNB coin recently, it appears as though the masses are still solely concerned with the tokens short/long term financial performance. In this regard, the folks over at RektCapital expect the coming few weeks to see Binance Coin continue its strong performance and maybe even touch its ATH value of $24.46 — a price point that the currency last reached during the first quarter of 2018— in the near future.
Breakdown from the Ascending Triangle and loss of market structure led to a 10% shakeout
— Rekt Capital (@rektcapital) March 24, 2019
In rounding off this piece, it should be pointed out that BNB’s current price momentum looks promising to say the least— especially for those investors who are looking to make short term profits from the asset’s ongoing performance.
However, from a long-term perspective, it still remains to be seen how BNB’s value holds up in the weeks to come.