In the world of cryptocurrency, there is always a lot of interesting momentum at any given time. As most of the bearish pressure has relented once again, the markets are trying to move up in a swift manner. The Binance Coin price is noting some modest gains, although some traders expect this latest run to carry a lot of weight. Only time will tell if they are correct in that assumption.
Binance Coin Price Launches Another Attempt
It is evident the cryptocurrency markets have waited for Bitcoin to move up throughout the first half of the day. Albeit it took some time to do so, the current momentum seems to indicate this weekend may not be all that negative. As Binance Coin starts moving up again rather quickly, there will be plenty of people trying to chase the top.
Over the past 24 hours, there has been a 3.87% Binance Coin price increase. In USD terms, the token is now valued at $15.27. There are also gains in ETH and BTC value, pushing the ratio to 0.00378 BTC or 0.11 Ether. All of these trends are incredibly promising for a lot of traders, albeit there is always a chance the current uptrend will be negated fairly quickly
One aspect driving the Binance Coin trend first and foremost is the social activity surrounding this project. Chuck Costellos goes as far as claiming how Binance Coin is the new Bitcoin and XRP is dead. Both of these statements are factually incorrect, albeit it is evident he has high expectations for BNB. It is now up to this project to deliver on those expectations, which is never an easy task.
Whenever Weiss Ratings shares something on Twitter, it is evident a lot of people will listen. The company touches upon Binance’s alleged hide-and-seek game in terms of regulation and moving the headquarters around the globe. How that would affect Binance Coin’s credibility, remains unclear. It also didn’t take long for BNB supporters to come to the project’s rescue in this regard.
Most cryptocurrencies, tokens, and assets are complicated to obtain for the average consumer. Binance Coin is now seemingly being integrated into various Bitcoin ATMs. For now, this appears to be a one-way transaction provided by the CoinFlip team, although they are looking at ways to enable two-way support. An interesting development worth keeping an eye on. Making it easier to access these tokens, assets, and currencies is always beneficial to the overall ecosystem.
While some people are openly taking exception to Binance Coin these days, no one will deny the value continues to move up over time. A push to $16 is rather unlikely to materialize this weekend, although it will primarily depend on whether Bitcoin turns bullish or not. For now, BNB is in a good place, yet it seems likely there will be some price resistance on the horizon fairly soon.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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