Binance Coin (BNB) Price Analysis : Binance Coin in its Prime with a Flourishing Market

Binance coin is a digital currency issued by the cryptocurrency exchange which is based on the ethereum blockchain currently and is similar to ETHER. However, once the digital currency is ported to its blockchain, under development, Binance will be upgraded to a decentralized exchange. The three main benefits with BNB include- Order matching, Liquidity, and Multilingual support. Binance had minted a total of 200 million BNB tokens for its use, and the total supply of coins was distributed among various entities. The split up includes – 100 million for ICO, 80 million for the founding team and 20 million for the Angel investors.

Binance coinBinance Coin is the 7th largest cryptocurrency in the crypto market. The market cap value traded as low as $800 million at the beginning of January 2019. The cryptocurrency is in its prime with a stable inclination in the market. The lowest was on February 01 with the value of USD 800,158,666 which is lower by more than 150% than the current value. The market has been booming ever since with a continuous amplification. The MCap value reached the pinnacle of $2,406,294,146 USD on March 25 at 02:34 UTC. The current value USD 2,345,621,438 on March 26 at 10:54 UTC is lesser than the highest value by 2.59% which is negligible. The current MCap value of BNB on March 26 at 10:59 UTC is $2,345,621,438 USD for the corresponding 24h volume of $164,728,564. The flourishing market is established by the 20-day EMA exhibiting an uptrend with the values rising from USD 1,960,529,508 to the current value by 19.64%. The magnifying market drives the cryptocurrency into bullish pressure.

Although the price of BTC traded as low as 0.00165063 on January 01, the market trend shows the increase in the price of BTC has been manifold and currently, is dominating the market with the value of 0.00419946 on March 26 (10:59 UTC). Bitcoin’s price was at its lowest on February 01 with the value of 0.00179291 which is lesser by a huge percentage. However, the recent increase in the market led to its highest on March 25 with the value close to the current value of 0.00425783, with a minor difference of 1.37%. Similarly, the price of USD has also been inflating, from values being as low as $6.19 on February 01 at 01:34 UTC. The current value of USD per BNB is estimated, by Coinmarketcap, to be $16.61. The pricing grew 168.34% of the lowest value. The MCap values, the price of USD and that of BTC has been on the increase with a similar market trend. The price of USD was at its all-time high on March 25 with a value of $17.04.

However, Binance Coin has gained a huge price over the weekend. The release of its new Launchpad over the weekend has increased the market value of the cryptocurrency multifariously. The investors have recognized the boom in the market that comes along the new policy and the price of BNB skyrocketing. With the current price of $16.61, the users are looking at an investment of over $1600 to participate in the Launchpad coin sales. Nonetheless,  the overall market, along with the new release, increases the value of Binance coin further and grabs the attention of the investors. Check out our forecast section to get BNB Forecast by experts for upcoming years’.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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