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Binance Coin [BNB] spikes by 5%; reason speculated to be CZ’s statement on Bitcoin SV [BSV]

Namrata Shukla

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Binance coin [BNB] spikes by 5% following CZ's statement against BSV
Source: Pixabay

The cryptocurrency market saw a decline in the prices of most major cryptocurrencies on April 14. However, Binance Coin [BNB], the seventh largest coin, managed to appreciate considerably in an otherwise red market. Binance Coin, which had been suffering the wrath of the bear earlier this week, saw a sharp rise in its price, with many enthusiasts associating the surge to CZ’s comment on Bitcoin SV and Craig Wright.

At press time, BNB noted a growth of 5.22% over the past day, while almost all other coins were painted vermillion. The coin was valued at $19.28, with a market cap of $2.72 billion. It noted a 24-hour trading volume of $180 million and noted a 0.76% hike over the past week following a minor recovery. However, the coin slipped by a minimal 0.02% over the past hour.



Source: CoinMarketCap

Source: CoinMarketCap

BNB has been observing a gradual rise in its price since April 12 after Binance CEO and founder CZ threatened to delist Bitcoin SV over the “Craig Wright is Satoshi” debate. The Binance community, along with many other prominent crypto-enthusiasts have been supporting CZ’s decision and have since been demanding the delisting of BSV. However, CZ has not revealed any timeline or condition related to his alleged threat.

BNB was highly traded on Binance’s exchange via the BNB/USDT pair and BNB/BTC pair. BNB/USDT pair took the first place as it noted a volume of $42 million. BNB/BTC, in the second place, managed to register a volume of $40 million. After the first two places, the trading volume of BNB dropped to $14 million, which was registered by LBank via the BNB/USDT pair.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Altcoins

Binance Chain’s first project Mithril to launch with MITH/USDT trading pair

Namrata Shukla

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Binance Chain's adds Mithril as its first project followed by MITH/USDT trading pair
Source: Pixabay

Binance launched its blockchain protocol on April 18 and it already has its first project launch on its network. Mithril, a decentralized social media platform will migrate to Binance Chain. The company’s MITH token, that ranks 121st on CoinMarketCap will transfer from ERC20 to Binance’s BEP2 standard.

Binance Chain has been a highly anticipated project in the crypto world since its announcement and with its launch, the community provided ample support to the move. According to reports, Binance is luring companies into migrating to their new native chain and leave Ethereum.

According to Mithril’s blog post, the migration commenced after the mainnet launch of the Binance Chain and informed the MITH holders that the deposit and withdrawals on Binance.com will be halted for the initial 12-hour migration period, however, trading will continue. The post added:



“Once the initial migration of ERC20-based MITH to BEP2 MITH is complete, Binance users will be able to withdraw MITH to BEP2 wallets, such as the Ledger Nano S, and begin trading on Binance DEX. ERC20 versions of MITH held in private ETH wallets or on other exchanges will not be impacted.”

As Mithril announced about its migration to Binance chain, the price of MITH, Mithril’s native coin saw a surge. The coin also saw a 70% hike,  followed by a market correction. At press time, MITH was valued at $0.0782 with a market cap of $40 million. The 24-hour trading volume of the coin was $108 million as it pumped by 67.10% over the past day. In the past seven days, the coin noted a surge of a massive 81.47%, which started to dip by 0.84% over the past hour.

Following the addition of the project, Binance announced the listing of MITH/USDT trading pair, which will start trading on April 19, 10 AM UTC.





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