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Price Analysis

Binance Coin (BNB) Price Analysis: BNB Surpassing 4 billion USD Market Cap Set to Reach 40 USD Soon

2019 seems to be a fabulous year for BNB or Binance Coin. On January 1st, 2019 it was 6.19 USD and currently trading at 31 USD. It is a fantastic rise of 400 % in 2019. Also, the value has gone beyond 4 billion USD from May 19th. Hence experts predict it to reach 40 USD soon.

Fundamental facts favoring the bullishness of Binance coin:

  • The announcement by BNB revealing the launch of IEO or the Initial Exchange Offering on Binance Launchpad to start from 28th May
  • It is releasing by this IEO 12.6 billion Binance coins which are capped at 5 million USD
  • Since Binance is an innovative, reputed and trusted exchange platform, the token sales are expected to be successful
  • Binance will distribute its current holding of 16,666 tickets to its holders according to their BNB in their accounts
  • Binance being a native token has been seen an increase of its usage among merchants
  • Its launch of many projects like DEX, Mainnet, and Singapore Binance has increased its users to more than 10 million

Technical facts favoring Binance Coin:

  • The overall crypto bullishness of 2017 is returning now in the last six weeks of 2019
  • Recently it’s market cap has crossed 4 billion USD
  • For the past few days, it is surpassing its all-time highs with an increase in the volume of traded coins

Today’s BNB price statistics at 8.14 UTC:

Binance Coin

Presently Binance Coin is at the 7th position in the cryptocurrency list of Coinmaketcap

  • The ROI is >9000 %
  • The total circulation is 141, 175, 490 BNB
  • The market cap is 4,337,697,169 USD
  • The price per BNB is 30.73 USD
  • The BTC price per BNB is 0.00401172
  • The traded volume is 526,148,088
  • It’s 25 days price change is 34.36%

Today’s trading statistics of BNB:

Today due to subdued trading, the current price is lower than yesterday’s closing of 31.42 USD, which is -2.19 % lower. During intraday trading, it has reached a high of 32.22 and a low of 30.45.   Hence as of today’s trading, it has touched yesterday’s high of 32.22 precisely and then slid down to the current price. It is now trading near its days low and also below the low of yesterday of 30.98 USD which show that it is on the downside of trading today.

Value Comparison of Binance coin:

From its 3 months low in February 16th of 9.44 USD to the current price there was a steep rise of 225.52 %. The last 6 weeks it is on a continuous bull run and has reached the all-time high of 32.43 USD on May 21st.

Conclusion:

To reach its first target of 40 USD, it has to break the all-time high of 32.43 with an increase in trading volume.

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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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