Binance coin [BNB] flying high in the bearish crypto market
Binance coin [BNB] is presently in a safer and greener zone amidst the sinking valuation of other prominent privacy coins. The first day of the week continues with the declination of the price charts. Bitcoin [BTC] has experienced a major blow, last week, in its price valuation which hovers around $6,500. According to a report by BCFocus, Binance coin [BNB] has quite recently paired up with Ripple [XRP] which expects positive growth in 2018, itself.
Last week, the price of Ethereum [ETH] cryptocurrency on SEC headlines suggested a slight improvement which eventually deteriorated below $500. Other major altcoins are experiencing a similar downward slide while only Binance coin [BNB] flying high.
Coinmarket displays the trading percent of Binance coin [BNB] which is up by 3.9% whereas other privacy coins in the list of top 40 is dropping again. The current trading value of Binance coin [BNB] is marked at $16.80 which has experienced an upsurge from yesterday’s $16.13. Amidst the negative and depressing market trend, Binance coin [BNB] retains its strength and position by rising from $14.30 to 17.5% . The gain of Bitcoin [BTC] in this week revolves around 23% from a level of 212000 satoshis since Bitcoin’s devaluation persists.
Binance has continued its measure to offer promotions for numerous tokens along with Binance coin [BNB], thereby, making it beneficial for investment. The trade fees can be half reduced by the users by carrying out trade with Binance coin [BNB]. This will consequently enhance the trading volume and price valuation of this privacy coin. Binance crypto exchange is expected to expand by promoting fiat trading from Malta and Jersey. This would give a tough competition to UK market and eventually, Binance exchange can secure the top position.
The trading pair of BNB-Tether is over 50% with Ethereum [ETH] marked at 4.4% and Bitcoin [BTC] at 38%. The trading volume has seen a rise from $88 million to a range of $109 million in the last 24 hours. At the time of Asian trade on Monday, Binance [BNB] happens to be the sole virtual currency that is safe from getting hammered. This coin of Binance exchange occupies the 15th rank in coin chart with market capitalisation of $1.9 billion.
The profits made in the last 2 months in the crypto market have been erased. This is occurred due to the current downfall which is similar to that of April. At the present moment, the total market is at $276 billion and the 24 hour trading volume is at the level of $ 10 billion.
Over a span of last week, the loss incurred by the crypto market is 8% which is equivalent to $25 billion. Besides, the volume has also reduced by half which implies sluggish selling pressure. Among the top 50 privacy coins, only few experience an upward movement including ReddCoin [RDD], Mithril [MITH], Docademic [MTC]. Reddcoin [RDD] has a gain of 11% and Mithril [MITH] jumps up by 5.2%. Surprisingly, in the current situation, Docademic [MTC] is flying much high by 27% upsurge.
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