Binance Coin Continuously Surges To 13%! What May Be The Reason?

Although Cryptocurrencies have been seeing a deafening year, Binance Coin is continuously rising its value since mid-december 2018.

Recently, the Binance Coin increased more than 12% and broke the $10.00 value against the US dollar. With this cryptocurrency gaining traction Bitcoin, Ethereum, Ripple and Litecoin have corrected lower.

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The cryptocurrency Binance Coin is up over 110% for a period. Hence, trading at its new high time value against value. With this strong uptrend, the cryptocurrency is expected to accelerate above $11.50 over time. This week the crypto industry seen a strong rise in the cryptocurrencies like bitcoin, ripple, ethereum, bitcoin cash, eos and many more cryptocurrencies.

BNB Compared To BTC

Earlier this month, BNB has surged to a high level of trading against BTC. During the writing process, BNB was trading at a value of $10.82 marking 12.14% increase, according to the coinmarketcap data. Currently, one BTC is equivalent to 0.00272 BTC, resulting in cryptocurrency’s all-time high, having 10 percent more than the previous one.

Binance Coin

This notable increase took place few hours before the launch of Binance decentralized exchange testnet.

During the initial days of this month, Binance released the testnet for all its partners and is currently rolling out the version of public testing. This decentralized exchange module is constructed on top of the Binance Chain Blockchain.

Earlier, the Binance CEO said the network will follow an EOS-like model when selecting validator nodes while Binance retains a serious influence over the network at the beginning. Adding to it he also said that DEX will charge a fee close to $100k for new cryptocurrency listings.  This is in the attempt of reducing the number of spam and scam projects.

Eventually, Binance Coin price remains well supported above $10.20 for more gains. In the coming session, the BNB could grab buyers in a very short term before a fresh rally initially above the $11.00, $11.40 and $12.00 resistance levels.

What is your take on this continuous rise in the price of Binance Coin? Share your thoughts on our Facebook and Twitter pages.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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