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Binance Coin [BNB] soars high amidst positive developments; climbs up to 14th position

Anvita M V

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Binance Coin [BNB] soars high amidst positive developments; climbs up to 14th position
Source: Unsplash

Recently, Binance Coin [BNB], the native coin of Binance Exchange, surpassed NEO and Ethereum Classic [ETC] to stand as the 14th largest cryptocurrency, according to CoinMarketCap.

Binance Exchange also took to Twitter to announce the increment. The announcement read:

“$BNB is now the 14th largest #cryptocurrency by market cap! We owe much of this success to our #Binance community and angels, and we are humbled by your support.”

BNB at 14th position | Source: CoinMarketCap

BNB at 14th position | Source: CoinMarketCap

The rise in the position comes after several announcements revolving around the native cryptocurrency, created by the founder of Binance, Changpeng Zhao [CZ].

Recently, Zhao took to Twitter to announce that BNB will be used as gas on their soon to launch decentralized exchange [DEX].

The tweet read:

“Just had a productive meeting for #Binance#DEX (decentralized exchange), where $BNB will be native gas, and the exchange don’t control user funds. Aiming for a public beta end of the year/early next year. Yes, we work on Saturdays, non stop!”

Soon after the cryptocurrency rose to stand at the 14th position, Binance also announced their partnership with TravelByBit, a company focused on providing cryptocurrency payment options for travelers. The two companies plan on creating a blockchain powered Point-of-Sale [POS] payment system across all major airports around the world. TravelByBit will support Binance Coin as an option for payment.

According to CoinMarketCap, at press time, BNB is trading at $10.50 with a market cap of 1.2 million. It has seen a hike of 2.17% in the past day. While all the major coins have a splash of red on the 7-day percentage mark, BNB is displaying a hike of 4.36%.



Twitterati, Pavel Golub tweeted:

“Common, keep rolling!”

Another Twitterati, Kevin shoemaker said:

“Could be number 1 with xrp base pairing.”





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Anvita Mysore Vadiraj is a full-time content writer at AMBCrypto. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies.

Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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