BNB Shoots up to $20 just as the CEO of the Binance exchange Changpeng Zhao hinted that the platform will be launching a DeFi-related IEO so let’s find out more in our latest Binance coin news.
Bitcoin still maintains the position above $9500 level while some of the altcoins mark impressive gains and the Rumors that the exchange will launch a DeFi-based IEO is why BNB shoots up to a new price level. At the same time, the US Stock market indexes dropped in value slightly while gold broke above the level of $1,900 per ounce. During the day yesterday, there was a decrease of $4 billion for the entire cryptocurrency market cap but today it seems that the situation reversed. Bitcoin’s $9500 support line held its ground despite the few attempts to break lower. The bulls however were able to get in charge and push BTC towards $9650 on a few occasions on Bitstamp right before the price retraced to a current level of $9600.
— CZ Binance (@cz_binance) July 24, 2020
Ethereum continued its great performance and increased by 4.5% reaching $284. Litecoin and Cardano also increased their value by 5.7% and 6% respectively. The biggest gainer over the past 24 hours is surely Binance Coin as the altcoin surged by more than 7% to nearly $20. The latest price increase could come from the rumors started by the CEO of Binance Changpeng Zhao as he hinted that his company will be launching an IEO for a project that is related to the latest DeFi trend.
After the news about Swipe partnering with Travala.com, SXP also surged by more than 35% while weeks ago the altcoin was outside the top 100 coins by market cap and now managed to reach the 66th price point according to CoinMarketCap. Ampleforth is also among the biggest gainers today with a 21% right after the popular derivatives exchange FTX solved the issue that it had with AMPL contracts on its platform.
Aave increased by 15% while Verge increased by 8%. On the contrary, Quant lost 9.29% of its value while the Band Protocol is down by 6.7%. The precious metal market went on a bullish ride lately as gold continued to increase and break the $1900 per ounce level. While gold’s price movement attracted a lot of investors on the market, silver outperformed it. Silver reached a seven-year high over the previous week as the falling US dollar and the low-interest rates pushed the investors to look into other safe-haven assets. Silver is up by 18% this week alone and started trading at $23.24 per ounce.
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