STOCKS TELEGRAPH

Tag: BNB

  • Binance Coin (BNB): Will it rise?

    Binance Coin (BNB): Will it rise?

    Amidst the brutal market crash, Binance Coin (BNB) suffered immensely too. The third-ranked cryptocurrency has fallen 12% in just the past twenty-four hours while the 7-day loss is at a whopping 25%. Binance Coin was operating above $500 a few days ago but now the price has dropped to $500 with indications of going even lower. The 24-hour low stands at $486 while the high for the day was at $606. The daily trading volume for the cryptocurrency has been rising regardless as traders try to capitalize on the market dump.

    Binance Coin (BNB) Technical Analysis

    The market sentiment for the BNB coin is bearish in line with the overall cryptocurrency market. Out of the 26 technical indicators, thirteen are giving out an indication of sell with nine standing at a neutral position and just four indications of buy. Both the oscillators and moving averages are bearish at the moment.

    Binance Coin (BNB) Technical Analysis
    Binance Coin (BNB) Technical Analysis

    BNB coin has invalidated all bullish analyses as the whole market is in the grips of strong bears. A trader has identified various important support levels – most of which are expected to be broken by BNB coin. The first support level at $527 was broken by Binance Coin. The second support level to follow lies at the price level of $375. A good return on investment can be expected with short trades as the bearish trend of BNB coin is expected to last.

    Binance Coin Price Prediction

    The crypto market had been feared to enter major corrections as the bull run was thought to have over-lasted. The final push was provided by Elon Musk – CEO of Tesla – as he denounced the use of Bitcoin as a payment method for his Tesla cars because of environmental concerns. Musk has been called a hypocrite among many other names but that is not going to shift the market sentiment.

    HODLers stay strong as the long-term price prediction for the cryptocurrency remains bullish. Wallet Investor predicts BNB coin at $934 after a year while the five-year price of BNB is expected at $1,990. Digital Coin Price projects the price of Binance Coin at $776 by the end of the year while the 5-year price is expected at $2,197.

  • Top gainers last 5 days – (KuCoin Token, Bitcoin Gold, Ripple, Binance Coin, PancakeSwap)

    Top gainers last 5 days – (KuCoin Token, Bitcoin Gold, Ripple, Binance Coin, PancakeSwap)

    We have compiled a list of the top five best performing coins in the weekly timeframe. With phenomenal gains and growths, these cryptocurrencies have achieved a rank on our list.

    KuCoin Token (KCS) bags the first rank for the top performance in the weekly timeframe with a weekly growth of 88%. At the time of press, KCS was trading hands at $17.86 – which has decreased by 9%.KuCoin Token has a market ranking of seventy-eight with a daily trading volume of $109,501,368. KCS is the profit-sharing native token of the cryptocurrency exchange, KuCoin. The token is designed to become the key to the ecosystem of the exchange with further developments.

    The hard fork of Bitcoin, Bitcoin Gold (BTG) is another top performer of the week with a weekly growth of 74%. The cryptocurrency is priced at $107 which is still a long way from its all-time high of around $450 but the bullish momentum may overtake the price of the coin. Bitcoin Gold is ranked at 63rd position in the market and has a trading volume of $112,672,587. The hard fork has attempted to democratize the mining process of Bitcoin by allowing it to be mined on common GPUs.

    Ripple (XRP) has established itself safely above $1.50 and entered the weekly top performers’ list. Ripple achieved a growth of 74% after minor victories in the SEC lawsuit. Ripple Labs was granted access to discovery documents of BTC and ETH while the SEC was denied access to financial records of Ripple executives. XRP is making a comeback with regaining the fourth ranking in the market. Other favorable developments in the lawsuit may propel the cryptocurrency towards breaking its all-time high. 

    Binance Coin (BNB) has been one of the top performers of the current bull run and is the fourth best performer of the week with a growth of 47%. The coin established a new all-time high at $637 yesterday with a current price of $547. BNB is ranked at third place in the market. The cryptocurrency has been on a steep upward trend since the beginning of the 2021 bull run. BNB has multiple purposes being a payment method and the utility token of the Binance exchange.

    Last but not the least, PancakeSwap (CAKE) is the final top performer of the week with a rise of 38% in the price. The automated market maker (AMM) has established its all-time high at $25 in the week. It is priced at $24 at the time of press. CAKE is ranked at 40th in terms of market capitalization and has a daily trading volume of $1,083,145,899.

  • 5 Cryptocurrencies With New All-Time Highs – (Binance Coin, Tezos, FTX Token, Decred, Ethereum)

    The cryptocurrency bull run appears to continue with new cryptocurrencies making all-time highs every day. We have compiled a list of cryptocurrencies that have achieved a new all-time high.

    The queen of the market, Ethereum (ETH), has established a new all-time at $2,174. Ethereum had been flirting close to its previous all-time high. At the time of press, Ethereum stands at $2,128. Generally, the queen follows the king of the market closely but breaking the norm, it went higher than expectations by establishing the new record high. The performance of the coin can be attributed to the upcoming ETH2.0 upgrade which will tackle the scalability problem Ethereum is facing along with many other improvements.

    Binance Coin (BNB) has been one of the best performing cryptocurrencies. In the yearly timeframe, Binance Coin has had an 1800% increase in its performance. BNB went up from an average coin to the third ranked in the market. The coin suffered from retracements after establishing its all-time high at around $300 but the bulls have once again picked up and a new all-time high at $388 has been established.

    Tezos (XTZ) established a new all-time high at $6.47 at the time of press. The trading volume of $1,468,277,032 has went up by around 300%. The smart contracts platform which bears resemblance to Ethereum has a market ranking of 29. The coin is still on an uptrend and a continuation with newer all-time highs can be expected. The performance of the coin can be attributed to the major developments going on in the Tezos platform. Blockchain venture studio, Draper GolenHolm, has announced its support for the Tezos ecosystem. The firm has plans of incubating and accelerating startups based on the Tezos network. Furthermore, lugh.io – a French firm – has also launched a stablecoin on the Tezos block chain.

    FTX Token (FTT) has been on an upward trajectory since the beginning of the new year with only minor pullbacks. After every pullback, the coin has established a newer all-time high as it did currently. FTX Token is now operating at a new all-time high price level of $44.84. FTT is the governance token of the cryptocurrency derivatives platform FTX.

    Last but not the least, Decred (DCR) has also established a new all-time high at $194 and the cryptocurrency has stabilized near the all-time high price level. Decred is a block chain based cryptocurrency with the aim to facilitate governance, sustainability and community interaction. The coin is ranked at 50 in terms of market capitalization with a daily trading volume of $31,199,204.