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Binance Coin [BNB] pumps by over 7% in an hour as market actively supports altcoin

Namrata Shukla



Source: Pixabay

The cryptocurrency market has been on a rollercoaster ride over the past few days, with market surges at one moment and an immediate correction shortly after. Binance Coin [BNB], which was the only coin surging during the bear market, fell following the attack on its exchange. However, BNB on May 17 spiked and noted a growth over 7% in an hour.

Source: Trading view

Source: TradingView

According to the Trading View chart for BNB, the coin spiked by a massive 7.95% over the past hour. The coin faced a tremendous fall on May 16, after which it has now started to recover. Over the past seven days, it fell by 30.29% and was falling by 6.72% over the past day. It was valued at $25.06, with a market cap of $3.53 billion. It noted a 24-hour trading volume of $333 million.

The DEX launch has proven to be fruitful for the coin as market sentiment has positively impacted the price of the coin. The CEO of Binance, Changpeng Zhao AKA CZ, also announced Binance’s resumption of services recently. The coin was highly traded on Binance exchange, the coin’s native exchange.

The first place was taken by the BNB/USDT pair on Binance with $98 million in volume. The second spot was taken by the BNB/BTC pair with $63 million in trading volume. EXX took the third place with the BNB/BTC pair and a volume of $24 million.

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XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind




XRP TipBot goes online after a tiny downtime
Source: Unsplash

XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”

A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.

Wind tweeted,

XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.

After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.

The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.

This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.

XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.

SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.

Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.

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