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Binance Coin (BNB) Surges 16%, Proving A Strong Momentum

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The crypto news today show that despite the dip yesterday, some cryptocurrencies are making a leap forward and surging. One of them is the altcoin Binance Coin (BNB) which has been in a strong momentum lately and managed to surge by more than 16% overnight.

BNB has recorded a quick 16% surge against the US dollar, rising to $13.05 and proving its bullish momentum. Over the past few days, BNB has been increasing. According to one cryptocurrency trader known as ‘Satoshi MBA’ the strength of tokens and small market cap cryptocurrencies are here to show the bullish trend of Bitcoin.

If we look historically, most of the tokens and small market cap cryptocurrencies tended to record intensified losses in the direction headed by BTC. However, every time Bitcoin records a minor loss, tokens tend to record intensified losses against the USD. Alternatively, when the dominant cryptocurrency surges, they demonstrate large gains on the upside.

Over the past 24 hours, Bitcoin recorded a minor drop of around 2% – which did not stop a handful of tokens including BNB to record gains in the 10% to 20% range.

This has put BNB as the eight most valuable cryptocurrency in the global market, overtaking Stellar and TRON and rising to new highs. In only 7 days, the price of BNB surged from $9.5 to $13.4 – recording a growth of more than 41% against both Bitcoin and the USD.

 

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Binance Coin News

Binance Coin Listing News: Czech, Bulgarian And Romanian Fiats Announced

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The latest Binance Coin listing news show that the exchange officially added support for another three fiat currencies - this time targeting Central Europe and the Balkan nations. As of yesterday, users in the Czech Republic, Bulgaria and Romania will not be able to purchase cryptocurrencies with Czech koruny (CZK), Bulgarian leva (BGN) and Romanian lei (RON). The move comes as the latest Binance Coin listing news show that there is increased support for the main four digital currencies, including Bitcoin, Ethereum, Ripple and Binance Coin. These can now be purchased with the newly added fiats. However, for the time being, traders will have to use their VISA cards as there are no bank transfers enabled. The Binance Coin news now also show that the exchange outlined that it is already working on adding support for Mastercard, too. When it comes to the current price of BNB, we can see that it managed to rise by 6.64% following the new fiat currencies added to the exchange. At press time, BNB is trading at $21.84. Binance seems to be conquering the fiat markets and continuing the promotion of its native Binance Coin (BNB). All of this helped the exchange over time to get new customers and expand its business in many new regions. With the fresh fiat addition, the exchange now supports 24 fiats in total through its primary and subsidiary trading platforms. Most recently, the exchange added support for the Australian and Thai baht too. Along with the new fiat additions, the Binance Coin listing news show that BNB is getting accepted on many new exchanges now. This week alone, the Binance Coin listing news managed to propel BNB by 17% and the sharp increase helped the altcoin clear the $21 level. Right now, it is one of the cryptocurrencies to watch out for in the coming altcoin news, mostly because of the amazing potential as the exchange behind it releases new features. Among the new listings, we can also see that Binance will list LTO Network (LTO) and will launch the ATOM/USDT perpetual contract with up to 50x leverage. Binance also added Binance USD (BUSD) margin pairs for Binance Coin (BNB) and Ethereum (ETH) this month.
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Binance Coin News

Binance Launchpad Announces New WazirX’s Token Sale Results

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The Binance launchpad which is the platform’s token launch platform has just announced the WazirX token sale results and in the latest binance coin listing news we will find out more below. This was Binacne’s first token sale of the year and according to a press release from Binance, there were 10,000 winning tickets held by more than 9,033 winners. About 20,000 of the users participated and tried to win the lottery but more than 136,000 tickets were claimed. The chances of winning for all of the participants on the network are about 44 percent and this also puts the percentage of winning tickets at 7.31 percent. The WazirX token sale was conducted through one session where the participants bought WazirX WRX tokens using BNB and the Binance Launchpad announces the results today since the session ended. About 100,000,000 WRX tokens were sold in the session to the launchpad participants who drew and claimed their lottery tickets. The launchpad also explained that the winners will have their balances deducted according to the number of tickets that they will win within 24 hours. WazirX is the leading bitcoin exchange in India with an auto-matching peer to peer engine and WazirX advertises itself as working to solve the fiat to crypto conversion problem and to make the entire process regarding depositing and withdrawing fiat much more simple. WazirX will be listed on Binance starting tomorrow and there will be open trading options for WRX/BNB, WRX/BTC and WRX/USDT trading pairs at 2 am UTC. As per the recent reports, the leading crypto exchange binance announced a lot of exchanges to the format of its changes to the format of the launchpad token sale in a blog post last year. According to the announcement, the company ‘’will use a new lottery format for the next project on Binance launchpad.’’ The system functioned as a first-come, first-served basis and had many of the users who joined the high-demand sale, without any tokens. Back in February as reported in the altcoin news, the Binance Launchpad projects resulted in the issuance of two token-sale sessions for TRON’s Founder BitTorrent (BTT) which was for the purchases in BNB coin and the other for purchases in TRON (TRX). The token sale ended in less than 15 minutes. If binance deployed more computing power it might have influenced the process in terms of time and could have completed the ICO in less time.
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Binance Coin News

Binance Carries Out 10th Token Burn , Removes $38.8 Million BNB

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Binance carries out its 10th token burn this removing about $38.8 million worth of BNB from its circulation for good as we are reading in today’s binance coin news. The Malta-based crypto exchange Binance carries out its 10th quarterly token burn and removed $38.8 million worth of the BNB tokens from circulation and according to Changpeng Zhao, this is the second biggest burn when it comes to the USD value of the coins and also the third-biggest burn in terms of BNB. Zhao pointed out that this was the fourth consecutive quarter where the USD value of BNB burn grew. As some believe, the 9th BNB burn took place in the middle of October 2019 when the exchange also burned about 2,061,888 BNB tokens which were equal to $36,700,000 as compared to the $38.8 million. Binance reported that the latest BNB burn yesterday, was very successful and in the announcement, Changpeng Zhao pointed out:
‘’The 10th quarterly burn represented the first full quarter that we factored in the performance of our most recent new products.’’
CZ meant that the Binance’s margin trading which was launched in July, and the lending launched in August and futures launched in September 2019, are a part of the full quarter. He also noted that Binance made a huge effort to increase the fiat-to-crypto options by simply adding support for the 24-global fiat currencies to the exchange. He admitted that Binance Coin is still very far away from the all-time high which was reached in June 2019:
‘’But I don’t worry about it as much, because we view BNB as a long-term play, and many in the Binance community continue to use and hold BNB.’’
The token burning is a common practice that the token issuers perform to remove a certain amount of the existing cryptocurrency from circulation. This is done by the token creators who purchase the coins back from the community and lock it away forever. The tokens are burnt for deflationary purposes and Binance already announced its token burn plans when the coin was initially launched to keep the supply of 100 million BNB. The exchange-based crypto asset’s current circulation supply is 187,536,713 BNB but after the 10 token burns, the total supply dropped to 155,536,713.
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Binance Coin News

BNB Coin Price Analysis: Zhao Makes A Huge Bullish Prediction

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Those who did not profit from the 2019’s Binance Coin (BNB) price rally can still make profits from the crypto in 2020, says the well-known supporter of the coin Changpeng Zhao. The BNB coin price analysis made by the CEO of the platform seems to be extremely bullish as we are reading further in the altcoin news today. The CEO of Binance hypothesized a certain potential for a useful correlation between BNB and its rival Bitcoin (BTC). He also noted that the betterment of sentiment on the side of Bitcoin (BTC) can result in an increased number of Binance (BNB) trades. And also traders use Binance Coin (BNB) to pay for trading fees which would in the bigger picture force the demand for BNB.
 “Only a few coins outran [bitcoin] last year,” tweeted Mr. Zhao. “No guarantees, but the BNB ecosystem will definitely try to [build] faster than [bitcoin] again this year. I will personally continue to shill both.”
The statements of Changpeng Zhao were made while talks over bitcoin’s role as a safe-haven asset became louder. The best-known crypto peaked by up to 21%, from January the 3rd to January the 7th, at the time of escalating tensions between the US and Iran. The positive pro-growth sentiment swelled across the entire crypto sector. The BNB-to-dollar exchange rate grown more than 22% to $15.848 alone, making it one of the biggest gainers among the cryptocurrencies with the highest market capitalization. BNB also went up to 5% in contradiction of Bitcoin (BTC) within the aforementioned time span. Gautam Ghhugani from AllianceBernstein LP, the New York-based company, said that BNB coin price analysis is expected to come with a discounted price, right after he praised the core business model of Binance. The known analyst also said that the demand for the coin will go up in all likelihood because of the good performance of Binance, as an exchange company that surpasses all of its competition.
 “Binance exchange has (some) competitors (easy to Guess) who may not adopt the cleanest tactics to upset the cart,” he added. “BNB is the currency of the ecosystem & could really hurt. Binance is protecting its core business.”
If Changpeng Zhao is right about this, a growth of the price of Bitcoin (BTC) can be the right formula for it.
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