Binance Coin [BNB] Surges 7% Despite Gloomy Market Sentiment

Binance Coin (BNB) Slips To Further $18 While Bitcoin Enjoys Momentum

Binance Coin [BNB] Surges 7% Despite Gloomy Market Sentiment

The market is today posting negative returns following a strong pullback. A majority of top cryptocurrencies are down by more than 2%. One major coin has, however, remained up despite the bearish pressure, Binance coin (BNB). Binance coin has soared by more than 7% in the last 24 hours. This comes just days after Binance co-founder, Changpeng Zhao, hinted at a new product, Binance Cloud.

Binance Cloud Pushes BNB To Soar

At the end of last week, Changpeng Zhao commonly referred to as CZ Binance, held an ask-me-anything (AMA). In the session, the CEO answered a wide range of questions and enlightened the participants on top projects by the exchange in 2020. One of the highlights of the session was a hint of a new product to come in the next few days.

Few details were revealed by the exchange head. But the intent was clear. Furthermore, the company has an advertisement for a Senior Cloud Engineer. The candidate is expected to join the Cloud Engineering and Architecture Team. To further fueled the rumors, Zhao, shared pictures of clouds.

There have been further developments with the exchange such as the addition of Russian Rubles to buy crypto, the Initial Exchange Offering of WazirX and the launch of BNB futures in the last few hours.

All these developments mean success for the exchange and BNB. The exchange is poised for success in 2020 and as a result, its native token BNB has been surging and its demand has been on the rise.

BNB UP By 100% In 2020

At the time of writing this, BNB, the ninth-largest cryptocurrency by market cap is exchanging for just over $24. This after surging by over 7% in the last 24 hours. In 2020, Binance coin has gone up by more than 100% making it one of the best performing cryptocurrencies. The digital asset has climbed from lows of $13 to current highs of $25.

Binance Coin has an all-time high of $39 achieved mid-2019. In 2020, the digital asset might look to top this. Further, it will look to achieve a higher ranking in the crypto market. And with the strength and willingness shown by Binance exchange to stay ahead, this will not be hard.

Summary
Binance Coin [BNB] Surges 7% Despite Gloomy Market Sentiment
Article Name
Binance Coin [BNB] Surges 7% Despite Gloomy Market Sentiment
Description
The market is today posting negative returns following a strong pullback. A majority of top cryptocurrencies are down by more than 2%. One major coin has, however, remained up despite the bearish pressure, Binance coin (BNB). Binance coin has soared by more than 7% in the last 24 hours. This comes just days after Binance co-founder, Changpeng Zhao, hinted at a new product, Binance Cloud.
Author
Publisher Name
CoinGape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: John Kiguru
John is an outstanding writer with a great love for cryptocurrency and its underlining technology. Kiguru is an astute believer in cryptocurrency and blockchain technology and looks up to exploring digital innovation. Follow him on Twitter @Shawn254Guru
Post your comment...
John Kiguru 67 Articles
John is an outstanding writer with a great love for cryptocurrency and its underlining technology. Kiguru is an astute believer in cryptocurrency and blockchain technology and looks up to exploring digital innovation. Follow him on Twitter @Shawn254Guru
Follow John @