BNB

Binance Coin Witnesses Double-Digit Gains as Other Cryptos Fail to Catch Up

October 13, 2021 by Akash Anand

The arrival of the bear set a new precedent for the cryptocurrency market as prices fluctuated constantly. In the midst of dwindling prices, one altcoin outperforming its compatriots was Binance’s own altcoin, BNB. The third-placed cryptocurrency sought its vindication by cementing its increased market cap over 4th ranked Cardano.

At press time, Binance Coin was trading for $459 holding a market cap of $77.5 billion. The boost could be attributed to the cryptocurrency’s hold on its investor market. Binance Coin grew by 17 percent over the past day, making it one of the biggest winners in the top 20 cryptocurrency club. Even the daily trading volume shot up to $5.62 billion as a wave of new investors joined the BNB market.

Binance Coin [BNB] 1 hour:

BNB’s hourly gains were evident on the charts as the price climbed vertically from the immediate support at $360.4. After crossing the $400 threshold, the cryptocurrency faced a price slump. The community had no reason to panic as the recovery was almost instantaneous.

Parabolic SAR: A majority of the markers stayed below the price candles after an active 48 hours. This shift in momentum was seen as a new step in BNB’s growth.

Relative Strength Index: The graph spiked towards the overbought threshold as more users bought into the BNB market.

Chaikin Money Flow: The hold above the zero line meant that the capital coming into the market had overtaken the outflow, despite the flux.

Binance Coin 1 day:

bnb 1 d 1 — Binance Coin Witnesses Double-Digit Gains as Other Cryptos Fail to Catch Up 4

Long-term performance was indicative of a bullish atmosphere akin to the ramp-up in April. The daily support clocked at $330 after the formation of consecutive green candles.

Relative Strength Index: The pattern was similar to its hourly action as the number of BNB HODLers increased. If more users amp up the buying pressure, the graph is expected to break the threshold.

Chaikin Money Flow: As the buying pressure increased, so did the capital influx.

Parabolic SAR: Since the end of September, only two markers have failed to stay below the price candles. The strong bullish momentum played a massive role in establishing BNB in the podium positions.

Binance Coin [BNB] maintains rank 3 as bear influences price action

October 6, 2021 by Akash Anand

The first week of October seems to have brought fervent activity to the market as cryptocurrency prices entered a bull/bear flux. Altcoins moved along the bull axis before it was rudely interrupted by the bear’s swirl. As Bitcoin held its own above the 50k mark, the altcoin industry had its crests and falls too.

One of the major altcoins suffering under the bear’s crunch was Binance Coin [BNB]. The Changpeng Zhao led cryptocurrency witnessed a 4.8 percent drop in value over the previous 24 hours to trade at $423.3. Binance Coin’s market cap fell to $70.6 billion while the daily trading volume clocked at $1.64 billion. Even though the daily rate was bearish, the cryptocurrency held a strong standing in the weekly spectrum.

Binance Coin 1 hour:

Screenshot 20211006 172359 01 — Binance Coin [BNB] maintains rank 3 as bear influences price action 7

The third largest cryptocurrency on the charts had a wild week after reclaiming the third spot and hitting the bear wear. Binance Coin’s immediate support was at $412.2 after a tumultuous price action week.

Relative Strength Index: BNB’s graph climbed into the oversold threshold after a change in user sentiment. The graph is expected to climb more if more people hold onto their assets.

Chaikin Money Flow: The climb allowed BNB to tick above the zero line, indicating a shift in capital movement. A positive turnaround signified more money coming into the Binance market.

MACD: The signal line and the MACD line fell to the bottom of the graph after diverging from the confluence. Even the histogram moved into the red zone after the bear’s arrival.

Binance Coin 1 day:

Screenshot 20211006 172347 01 — Binance Coin [BNB] maintains rank 3 as bear influences price action 8

In the long term, Binance Coin struggled to hit earlier highs with the daily support at $327.6. The bottom of the graph was higher than earlier thresholds.

Chaikin Money Flow: The sporadic movement on the charts settled with the graph moving towards the zero line. A rescued capital flow may lead to further disparity among the time spectrums.

MACD: Unlike it’s hourly counterpart, the indicator moved upwards as the histogram surged towards greener pastures.

Relative Strength Index:The RSI was closer to the overbought zone than the oversold zone as user interest piqued in the long term. Fans of the cryptocurrency would want it to replicate it’s daily performance on the hourly charts.

Binance Coin [BNB] Sees Double-Digit Growth As October Brings Greener Pastures

October 2, 2021 by Akash Anand

Several altcoins led the bull charge on the 1st of October with market caps surging on the charts. Binance Coin [BNB] emerged as one of the best performers of the day that saw spectacular growth in both the daily and weekly timeframes. The weekend seems to have brought along some good tidings for the crypto-verse as multiple coins witnessed double-digit gains.

At the time of writing, BNB was valued at $411.8 while its market cap climbed to $69.35 billion. The cryptocurrency climbed by 10.6 percent over the last 24-hours which was enough to push the daily trading volume over the $1.9 billion mark. As October officially dawned upon the cryptocurrency market, enthusiasts expected a change in fortunes.

Binance Coin 1-hour:

bnb 1hr — Binance Coin [BNB] Sees Double-Digit Growth As October Brings Greener Pastures 11

The hourly spectrum saw BNB register strong green candles on Friday. Binance’s cryptocurrency enjoyed a consecutive green red save for one red candle in between. According to the readings, BNB’s immediate support was clocked at $325.06.

Bolinger bands: The Bollinger bands diverged from one another as the cloud size increased. This was a sign of an impending buy-in run for Binance Coin.

Relative Strength Index: BNB’s RSI stayed above the overbought threshold as the cryptocurrency enjoyed one of its strongest runs in weeks. The indicator was evidence that more users were buying into the Binance Coin ecosystem.

MACD: The MACD line and the signal line moved upwards after crossing over. Even the histogram displayed strong bullish momentum.

Binance Coin 1-day:

bnb 1 d — Binance Coin [BNB] Sees Double-Digit Growth As October Brings Greener Pastures 12

BNB’s daily performance was more stagnant compared to its hourly counterpart. The daily price resistance fell to $265 after the bear run at the start of May.

Relative Strength Index: After Friday’s resurgence, the indicator shot up to the moon. The new influx of investors is expected to benefit the cryptocurrency’s long term price hold.

MACD indicator: After a slow September, the MACD line and signal line converged on October 1. The histogram in turn was in the midst of recovery after seeing red for the entirety of September.

Bollinger bands: Both the bands moved parallel to each other after the green candle lifted the price action out of its lull.

BNB paves bullish path as other altcoins try to keep pace

August 16, 2021 by Akash Anand

BNB joined the rest of the altcoin market in a price flux as the bull and the bear butted heads. Binance’s native asset was in the bull’s good books as it enjoyed double-digit gains over the week. Binance Coin maintained its position as the only cryptocurrency to have green tickers across the hourly, daily, and weekly time spectrums.

At press time, BNB was trading for $424.6 with a market cap of $65.6 billion. A 6 percent daily hike elevated BNB’s trading volume to $1.8 billion, which included stats from the largest cryptocurrency exchanges. BNB still had ways to go before it could surpass its nearest competitor, ADA.

BNB 1 hr:

Binance Coin’s latest rally allowed the indicators to fall in the bull’s court. The support held near the $375 mark, a bounce point for the cryptocurrency’s price.

BNB’s Bollinger bands diverged from one another with users hoping for a significant cloud formation. The RSI grazed the overbought zone indicating a massive increase in the number of people HODLing Binance Coin.

Binance Coin’s CMF pushed for a bullish atmosphere as the graph spiked above the zero line. A steeper CMF graph pointed to increased capital in the BNB y.

BNB 1 day:

In the long term, Binance Coin was picking up steam just like its counterparts. With the long-term support untouched since April, BNB had a safe run-up.

In the daily charts too, BNB’s technical indicators were on the bull’s team. Although the Bollinger cloud was smaller than the hourly spectrum, it signified positive momentum. Both the long-term CMF and RSI ascended vertically with the increase in funds and users.

Binance Coin (BNB)stays true on the bullish path as support climbs

August 11, 2021 by Akash Anand

The cryptocurrency market’s resurgence mid-week has instilled a sense of belief that the bull was here to stay. Altcoin climbs held their own against Bitcoin’s 20 percent weekly gain. Binance’s cryptocurrency, BNB, had a stellar hike with an 8 percent daily gain allowing it to stay up in the fourth position.

At the time of writing, Binance Coin was trading for $385.95 with a daily trading volume of $2.17 billion. The cryptocurrency’s $59.53 billion market cap was approximately $4 billion more than its nearest competitor, Cardano. BNB’s stellar growth was representative of the vertical climbs enjoyed by the rest of the market.

BNB 1 hour:

Binance Coin has seen a steady increase in price since the start of this month. With the immediate support holding below the $330 mark, Binance Coin was slowly but surely building on it.

BNB’s Chaikin Money Flow indicator ticked upwards unveiling a new set of investments into the Binance Market. The cryptocurrency’s RSI stayed above the oversold threshold despite crashing in the wee hours of Wednesday.

The chart also showed BNB’s prowess through the Parabolic SAR. The PSAR markers have stayed below the candles for the longest stretch for the month of August.

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The long-term charts indicated a bullish with multiple batches of green candles. The long-term support remained unwavering at $230 with all 3 indicators siding with the bull.

The mix of positive market sentiment and elevated prices has helped in the revival of the BNB market. This sentiment had reached a 30 day low on June 21 after which the coin saw tremendous growth.

BNB’s PSAR stayed below the graph for the 19th consecutive price candle. This matched the bullish nature the cryptocurrency was beading towards. The CMF’s upward run capped a mid-week run that could set off a surge before the weekend.

Binance Coin [BNB] Faces Off Against Bear as Market Dips

June 22, 2021 by Akash Anand

As cryptocurrency prices enter a new red sector, proponents of the market remained unfazed with some urging new members to “buy the dip”. Coins such as Bitcoin [BTC], Ethereum [ETH], and Binance Coin [BNB] witnessed price slashes unseen in over 2 months.

Altcoins such as Binance Coin enjoyed a tremendous bull run last month but the current price crunch has erased all the previous accumulated gains. At press time, BNB was trading for $260.5 with a market cap of $41.1 billion. BNB prices dipped by 12.5 percent over the past 24-hours further reducing the daily trading volume to $3.08 billion. Thanks to the market-wide bear attack, BNB’s closest rival Cardano was still $5 billion behind in terms of market cap.

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Binance Coin’s short term charts painted a bearish picture with the 4th largest cryptocurrency breaking its immediate price support. The current support stands at $259 while the immediate resistance was locked in at $365. BNB’s parent company, Binance, has urged its holders and fanbase to HODL their assets for the long run.

The Relative Strength Index had fallen towards the oversold zone, a normal movement during an price dip. This was a sign of a sell off triggered by the latest crash. Since the graph is on the threshold, there remains a chance for an upturn. According to the Chaikin Money Flow, the capital leaving the BNB market was more than the influx.

Only the MACD indicated a bullish prospect with the signal line and the MACD line diverging today. Post the divergence the graphs have moved parallel to each other, which may give a reprieve for BNB’s price.

BNB 1 day:

The long-term chart for BNB also pointed to a bearish hold on the market with prices heading to levels unseen since March. BNB’s long-term support was the same as that of the hourly chart ie. $259. The Relative Strength Index had fallen below the oversold zone as BNB’s buy-in patterns changed for the worse. The stabilization in the graph could mean that users had begun to redirect their capital into BNB.

The Chaikin Money Flow [CMF] crashed below the zero line after holding at a 60 day high. Massive amounts of BNB being sold could be one of the reasons for the sharp downturn. Unlike in the hourly charts, the MACD line for the long term was bearish. As the rest of the cryptocurrency market also heads for more bear attacks, BNB holders should continue to take notes from earlier price crashes.

Binance Coin’s [BNB] volume plunges after smashing ATH above $650

May 6, 2021 by Chayanika Deka

Binance Coin [BNB] remained close to its recently established all-time high despite a minor setback. The exchange token has been on a consolidation mode for nearly three weeks eventually formed a new peak earlier this week. It amassed weekly gains of 16.83%.

Binance Coin [BNB] noted a minor decline of 1.09% over the past 24-hours which drove the crypto-asset to $645.43. At the time of writing, the digital asset registered a market cap of $99.26 billion and a 24-hour trading volume of $5.28 billion.

Binance Coin [BNB] 24-hour Price Chart:

BNB1 — Binance Coin's [BNB] volume plunges after smashing ATH above $650 27

Binance Coin [BNB] has witnessed a renewed bullish momentum in the second quarter of the year. Even as the price bounced off from its peak, it had not yet tested its immediate support level. The mouth of the Bollinger Bands depicted an upcoming phase of volatility in the coin market, which could indicate a further upside price movement in the coming days.

The volume of the token has, however, failed to back the bullish streak as it kept a low profile since mid-April. This could potentially hinder the uptrend.

BNB2 — Binance Coin's [BNB] volume plunges after smashing ATH above $650 28

The red closing bar of Awesome Oscillator on the daily chart of Binance Coin was indicative of a momentum that is shifting towards the bearish realm. The MACD, on the other hand, maintained its streak above the signal line despite hints of a flip to the negative side and a tumbling buying demand. This alerted the possibility of some selling BNB holders in the near term.

But the Relative Strength Index [RSI] depicted a different picture. It was well above the 50-median line that signified a sentiment of increasing buying pressure in the market despite the formation of an all-time high. In short, the investors aren’t done yet and there could be more upside potential.

The immediate resistance level for BNB was found to be at $677. The crypto-asset was supported at levels of $562.8 and $481.9 respectively.

Binance Coin [BNB] Surges Above $560 After Starting Relief Rally

April 28, 2021 by Chayanika Deka

Binance Coin’s, BNB price has surged close to its recently established ATH amid a market-wide rally. It has managed to secure its position as the third-largest cryptocurrency on the leaderboard and currently sits below Ethereum [ETH].

The weekend reset gave an opportunity for investors to buy the tokens at lower levels. Owing to this, several market participants accumulated on dips that drove BNB to notch weekly gains of more than 10% while its peer altcoins also attempted to push the price above the resistance points.

Currently, Binance Coin [BNB] was found to be teetering at $567.7 and was up by nearly 6% over the past day. The digital asset recorded a market cap of $87.28 billion and a 24-hour trading volume of $3.78 billion, at the time of writing.

Binance Coin [BNB] Daily Price Chart:

The candlestick arrangement formed a symmetrical triangle on the 24-hour chart of Binance Coin [BNB]. This is a continuation pattern which signified that the token could undergo a consolidation phase within the to sloping trendline before undergoing a breakout.

In line with this, the converging Bollinger Bands on the above chart pointed also towards a period of low volatility in the market. Meaning, there might not be any abrupt trends change in either direction in the near term.

The moving averages, 50 DMA [Pink] and 100 DMA [Purple] continued to form crucial support points for the asset’s price.

The Chaikin Money Flow [CMF] was above the zero line depicting a steady inflow of capital into the BNB market. The Klinger Oscillator was headed for a bullish crossover after treading on the negative side almost a week.

The RSI also noted an uptick near the 64-level and targeted the overbought region following the latest rise. This was indicative of a strong buying sentiment in the coin market.

The BNB bulls could now try to thrust the price above the resistance zones of $597, and $643. Support levels, on the other hand, were identified at $481, $381, and $259 respectively.

CryptoLocally Delivers to its Customer Base by Adding Credit Payments for Cryptocurrency Transactions

August 3, 2020 by Akash Anand

Cryptocurrency organizations now have a new goal of rope more customers: to make the entire transaction process more seamless and attractive. This mantra has led to a number of innovations and developments that would otherwise have been unseen to the industry. Keeping this shift in sentiment in mind, popular cryptocurrency exchange platform CryptoLocally has introduced credit card payments for ease of cryptocurrency transactions. Using the latest feature, customers will be able to make the transition from Fiat to crypto in a matter of minutes.

The cryptocurrency exchange platform CryptoLocally announced that customers will be able to buy Bitcoin, Binance Coin, Tron, EOS and ETH instantly using a credit card. Safety and security are also a high priority for the organization with the automatic implementation of KYC for credit card users. The credit card launch comes on the back of several partnerships conducted by CryptoLocally, mainly with organizations like Skrill, Western Union, Paytm and Google Pay.

Over the past couple of weeks, The cryptocurrency exchange platform CryptoLocally has been busy with adding additional players to its roster. Towards the end of July, CryptoLocally listed its first Ethereum based digital assets on the platform. These included Ethereum [ETH], Tether [USDT] and DAI. The additions were part of the organization’s efforts to give customers the best trading experience while balancing the cost of functioning.

With the new Instant Buy feature, The cryptocurrency exchange platform CryptoLocally aims to traverse the rapidly growing industry of quick crypto payments. Instant Buy is also set to enable users to conduct more transactions on the platform and take the cryptoverse into the mainstream realm. CryptoLocally also released a blog post to make it easier for users to understand the workings of the credit card linkup. According to the company’s release, the first step includes:

” …click “Buy” on the navigation bar at the top left. Then, click the “Instant Buy” button to purchase crypto with your Credit card. If you want to see offers only for credit card transactions, the Select Payment Methodfilter can help.”

Customers will be presented with the multiple cryptocurrency option on the next page with the drop-down menu displaying BTC, ETH, TRX, BNB and EOS. The company has set the minimum amount for the transaction at $60. Once a customer decides the required amount of purchase, all they need to do is type in their credit card details.

After processing, the customer will be asked to provide his/her wallet address to which they ant the funds to be transferred to. The KYC process becomes imperative here with CryptoLocally conducting the process by taking a photo of the customer’s face and an official document confirming the same. , The cryptocurrency exchange platform CryptoLocally has assured users that they will do everything in their power to maintain a high standard while allowing them to carry out safe and quick transactions.

Decentralized Exchanges Caught on the Radar of Volume Manipulation by Wash Trading

July 25, 2020 by Richard M Adrian

A 2019 blockchain report by Bitwise concluded that most of the reported crypto trading volumes by centralized exchanges were fake. This was after analyzing data and trading patterns across different crypto exchanges and finding that the true market value of a major company’s bitcoin traded was only $273.A rather big difference compared to the daily volumes reported was usually hitting an ostensible $6 billion.

While this report had only been limited to centralized exchanges, analysts found out that decentralized exchanges were as well not immune to volume inflation. Whereas the latter are widely loved for their openness, lack of a central authority and lack of custody; all features that reduce the need for trust in their operations; instances of manipulation are also possible.

Fake Volume Manipulation through Wash Trading

Wash trading is one of the methods by which exchanges inflate their volumes. This is an instance where an individual trader acts both as the maker and taker of a trade order (simply trading him / herself). The method is popular among exchanges attempting to manipulate and inflate their reported data. Nonetheless, several exchanges have been noted for implementing reward schemes for wash trading such transaction fee mining incentives.

Self-custody services of decentralized exchanges remain one of their big winning factors. This is because it ensures transparency in the operation of the exchange. Usually, with the self custody ledger, all transactions are recorded on a public database. Hence, making it easier to detect misbehaviors as they take place across the exchange. It is therefore impossible that Decentralized exchanges have not noticed instances of wash trading on their platforms.

Binance DEX Wash Trading

For instance, wash trading has been taking place in DEXs such as Loopring and Binance DEX. Specifically the token Travala (AVA), a project backed by Binance is one of the tokens posting record volumes with Binance’s BNB pair. What signals wash trading on this pair, is its volume chart.

A normal volume curve can have astronomical volumes during high or low volatility periods. Peaks will appear only at times the market prices are moving in a specific direction. It is typically the metric that Bitwise uses to detect fake volume. In this pair therefore, the chart shows a uniform high even though the market is facing low volatility and during spikes, the volume plummets instead of surging.

Even while there are instances of wash trading on these platforms; it is not clear if the perpetrators will reap any benefits from the action. A Binance spokesman for instance denounced having a hand in wash trading and stressed exchange admins neither had the ability to control order flow on the platform.

BNB

Binance Coin Witnesses Double-Digit Gains as Other Cryptos Fail to Catch Up

Binance Coin [BNB] 1 hour: