Price Analysis

Binance Coin Price Analysis: Binance Coin (BNB) Takes Measures To Resurrect From Slumping Trends

eToro
  • Binance Chain attracts new listings including the recent one with BOOSTO.IO
  • Binance’s Pink Care Token project gains traction among communities

Binance Coin has become one of the high performing assets in the first six months of 2019, and in order to continue with the tag, Binance has been taking strong measures for mass adoption of BNB token. Binance Chain has recently announced the listing of BOOSTO.IO, a decentralized app store, on the exchange which will result in the mass adoption of the blockchain technology. The company has also started the Pink Care Token project for young women around the globe. These measures combined together may push BNB further up, and the current market statistics will start surging rapidly.

Binance Coin Price Statistics:

In the last 5 days of this week, the BNB token has shown mixed trends. The week started on a high note when BNB was observed to be trading at $34.69, but it slowly declined and reached as low as $30.49 in the midweek. The coin surged once again to cross $34 yesterday and closed the day at $32.38. Currently, BNB is trading at $32.82 as on July 5, 2019, at 08:50:44 UTC and the coin has shown a downtrend of over 5% in the last 5 days.

BNB Price Chart - 5 July
BNB Price Chart
  • The current trading price of BNB is noted at $32.82 and 0.00298633 BTC
  • The market cap of the coin is now $4,620,182,042
  • The 24 h volume of the coin is now $306,777,208
  • The ROI of the coin stands at >9000%
  • The circulating supply of BNB has reached 141,175,490 BNB

Binance Coin may not have lived up to its past performances in recent times, but the coin managed to remain afloat above $30 and also surged up to $34 once. The week was a slow one for most of the cryptos, but BNB managed to maintain steady movement relative to some of the other coins.

Binance Coin Price Prediction:

Binance Coin may rise as high as $40 by the end of July, and it may take one more month for the coin to cross $50 target. BNB may start trading around $50 to $100 by the end of the year, but the coin will remain to be profitable for the rest half of the year as well.

Conclusion:

This is a good time to invest in BNB in bulk as the prices are relatively low and the coin may surge up higher very soon.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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