Market Update: BNB Gets A Boost As Price Touches $18; Will It Continue The Uptrend?

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

Market Update: BNB Gets A Boost As Price Touches $18; Will It Continue The Uptrend?

Whether or not there’s going to be another alt season has become a dilemma lately. However, major alt coins are trying to keep their heads above waters and stay in the crypto recognition game. Among this category is Binance Coin, BNB, which, within the last 24 hours, has risen by about 8%. Meanwhile, Bitcoin is doing a great job gathering investor’s trust according to new statistics.

BNB Surges 8%

Sunday, the price of BNB was seen to have deviated towards the positive side with an 8% boost within the last 24 hours. According to stats on CoinMarketCap (CMC), the native Binance cryptocurrency gained about $1.05 to touch its current price of $18.37 within the last day. With this magnitude of upside movement, BNB hoard the recognition of the best performing crypto within the last 24 hours among the top 10 ranked on CMC.

At the time of writing this piece, the price of BNB is $18.37, a result of an uptrend which began around midday Saturday. BNB opened a 24-hour trading period on Saturday registering a low of $17.32 and has since then moved towards a 10% rise. Towards midday of Saturday, BNB experienced some alternate rise and fall in price but no permanent deviation occurred. However, after midday, a first major leap which saw the price halfway through $18 was seen. Touching the $18 mark by noon, BNB continued to make further gains against the USD towards $18.5 mark.

This is coming amid recent news that BUSD alongside XRP got support as interioerable tokens and could be traded by Binance customers on the DEX platform. This arrangement, according to a recent report by coingape would allow users to more freely deposit and withdraw the aforementioned interoperable tokens to their desired networks via the Binance.com web interface.

Bitcoin Fighting Reputational Damage

Elsewhere, news about how Bitcoin is doing well to impress investors is taking over the crypto sphere. According to report, mention of bitcoin scam headlines has hit its all-time-low. The statistics suggests that bitcoin is continually gathering trust of investors and the cryptocurrency is increasing its popularity.

chart

The price of bitcoin within the last 24 hours is not significantly impressive but the top cryptocurrency sure made some 2% gains. At the time of writing this piece, Bitcoin is changing hands at $8,477.74 desperately waiting to break the resistance at $8500.

Summary
Market Update: BNB Gets A Boost As Price Touches $18; Will It Continue The Uptrend?
Article Name
Market Update: BNB Gets A Boost As Price Touches $18; Will It Continue The Uptrend?
Description
Whether or not there's going to be another alt season has become a dilemma lately. However, major alt coins are trying to keep their heads above waters and stay in the crypto recognition game. Among this category is Binance Coin, BNB, which, within the last 24 hours, has risen by about 8%. Meanwhile, Bitcoin is doing a great job gathering investor's trust according to new statistics.
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: Dare Shonubi

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

Post your comment...
Dare Shonubi 246 Articles

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

Follow Dare @