Price Analysis

Binance Coin (BNB) Price Analysis: Going Against the Market Trend, will It be able to Maintain the Bull Run?

eToro
  • Currently trading at 20.31 USD, with an ROI of more than 9000%.
  • Binance Coin is one of the cryptos backed by Samsung Galaxy S10.

Binance Coin (BNB) decentralized and community-based cryptocurrency of the Binance platform. Interestingly, it derived its name “Binance” from a combination of two words, i.e. ‘binary’ and ‘finance.’

Analysis:

Binance coin

eToro Crypto
  • Binance Coin (BNB) is currently ranked at 7th place in the crypto chart as per CoinMarketCap.
  • Total Market Cap of the crypto was 2,866,657,889 USD, On May 09, at UTC 11:54.
  • At the same time, the 24-Hour volume was 182,238,857 USD, with a total of 141,175,490 BNB chips in circulation.
  • Against Bitcoin, the crypto was valued at 0.00334143 BTC per chip.
  • Against Binance Coin’s 25-day’s back value, which was 18.72 USD on April 13, today, the value of crypto jumped off by 8.4%.

Comparison:

  • All-Time High: 54 USD (Apr 20, 2019)
  • All Time Low: 096109 USD (Aug 01, 2017)
  • Yesterday’s High / Low: 35 USD / 19.80 USD
  • Yesterday’s Open / Close: 78 USD / 20.75 USD
  • Yesterday’s Change: -0.026487 USD (-0.13%)
  • Yesterday’s Volume: 247,852,849 USD

Binance Coin’s Latest News:

Recently, a piece of news broke out that the developers of Binance Coin are all set to launch its own Binance Chain. The launching of a new chain is treated as a first step toward the unveiling of a new and one of its kind decentralized exchange, the BinanceDEX. On top of that, the latest announcement is viewed as a transition stage for Binance from being a company into becoming a community. Additionally, Binance delisted Bitcoin Satoshi’s Vision (BSV) after the conflict of interest regarding the naming. A noteworthy fact is that; Binance Coin is also among 16 default altcoins that have been backed by Samsung Galaxy S10.

Binance Coin (BNB) Price Prediction:

If the current bullish trend persists in Binance Coin (BNB), which is most likely, it will cross the 50 USD by the end of 2019. However, there is a short term resistance at 30 USD.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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