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BNB Coin Could Drop Tomorrow: Binance Starts Restricting US Traders

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BNB coin could drop tomorrow since the major crypto exchange will stop the US traders from using their services from tomorrow as per the reports in the latest cryptocurrency news.

A few months ago, the leading crypto exchange Binance announced that it would stop the US traders from accessing the platform and that the new rule will come into effect on September 12th. The traders and analysts are now worried that the BNB coin could drop when this happens. Back on June 14th, the reports showed that the world’s major crypto exchange will be halting the access to the traders from the United States. The US traders will still have access to their wallets and all of their funds but they will no longer be able to deposit or to trade on the platform.

One of the main reasons for their decision is to guarantee full regulatory compliance. Binance was able to quickly act and create another alternative for the traders who want to continue using the platform. They also created the so-called Binance US and according to the CEO of the company Changpeng Zhao, the newest platform will supposedly increase the same speed as well as the same liquidity as the original platform. It is also very important to notice that recently the major crypto exchange partnered with Paxos in order to launch the USD-pegged stablecoin named Binance USD or BUSD. The news that the main platform of the binance exchange won’t let the US traders use the services, will not influence the Binance Coin very well. Back in June, the price of the BNB coin dropped at about 7 percent when the news first emerged. It all went downhill from there and as seen in the charts, BNB is down by more than 45 percent. It also appears that nothing that the exchange is currently doing is good enough to bring the price up.

As per the reports in the altcoin news, the entire situation got even worse when the coin is compared against Bitcoin. In the same period, the BNB coin decreased by more than 52 percent against bitcoin. Now that the trading of the US citizens will be stopped, the real question is if that will be even worse for the cryptocurrency and will it lead to a huge drop in value.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Binance Coin Declines To $22 After Bouncing Back

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The price of Binance Coin declines to $22 today just like the rest of the market, hinting that there is a possible crisis in the markets. While the performance from earlier this week showed that at one point BNB was attempting to cross $25, the situation is now different. However, there was a reason for the spike earlier. As reports in the cryptonews showed, the US-based Bitcoin ATM operator CoinFlip joined Binance Chain and made BNB available to US consumers in 35 states in its ATM network. Still, Binance Coin declines and was dragged as part of the market's performance, approaching a new price at $22 on the price chart today. If we look at the prices in the weekly period, we will see that Binance was resistant to many things before and was comfortable trading around $23 and $24. The coin seems to have moved out of the bullish MACD today now, and the price line can be observed hovering above and below this limit soon. There was also an overextension made above the $24 mark before which is why BNB stabilized before it fell to $22 as its current level. The Relative Strength Index (RSI) now can be seen as varying between 30.00 and 70.00 for most of the day. Currently, it is lower than usual which signals that Binance Coin declines and could be heading to lower grounds. The other two technical indicators can be seen sketching their paths near the BNB/USD pair while converging near the current mark. Anyways, the fact that Binance Coin declines may put its position at risk too - BNB is now at the 9th spot with around $3.44 billion as its total market cap. If we consider the fact that XTZ, which is ranked below it, has been adding a lot to its price lately without falling, BNB may be vulnerable and lose its position soon. Besides the Binance coin news, we can see that many other altcoins are dropping today. For instance, EOS (EOS) has lost 12% of its price and is now at $4.03, followed by Bitcoin Cash (BCH) which is again vulnerable after losing 9% and at its new price of $379. While these are the worst performers in the top 10, there are still coins which have lost more than 7% including Ripple (XRP), Ether (ETH), Litecoin (LTC) and others.
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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 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 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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