Binance Coin (BNB) Prices Are Flat, Is Changpeng “Killing” ETH?

Binance Coin (BNB) flat-lining, down 3.1 percent
Ethereum being sidelined, Binance delisting and shunning ETH trading pairs

Bitcoin Price Close Above $10,700 Could BTC Flying; Here’s Why
Monday September 16, 2019

The cryptocurrency market is known for its volatility; over its ten-year history, the Bitcoin (BTC) price has been subject to massive moves, moves that change on which order of magnitude the asset is trading...

The post Bitcoin Price Close Above $10,700 Could BTC Flying; Here’s Why appeared first on 12bitplay - Bitcoin Play.

By rebranding and delisting PHX/ETH trading pairs, observers say Binance is deliberately sidelining Ethereum projects. Understandably, Binance following their mainnet launch is a competitor. At the time of writing, BNB is down 3.1 percent.
Binance Coin Price Analysis
Competition forces innovation. Following governments and regulator involvement, ICOs as a fundraising model was slowed down. With stringent requirements and outright bans in several countries, including in China and South Korea, project managers were forced to shelve their plans or exclude investors in their crowdfunding.
Finding a gap, Binance launched its crowdfunding platform, the Binance Launchpad. Through this fundraising model, many analysts reckon that the exchange is the ultimate “Ethereum killer.”
The reason is because of the exchange’s decision not to list several tokens against ETH and in some cases entice projects away from Ethereum platform. Their plan of Binance Chain could be a reason.
However, their decision of not listing trading pairs against ETH is a cause of concern and even foul play. The rebranding of Red Pulse Phoenix Binance (PHB) and listing of new trading pairs was a signal:
“Additionally, Binance will open trading for PHB/BNB, PHB/BTC, PHB/USDC, PHB/TUSD, and PHB/PAX trading pairs at 2019/05/24 04:00 (UTC). Once trading opens, the previous PHX/BNB, PHX/BTC, and PHX/ETH trading pairs will be removed and delisted.”
Meanwhile, Binance will open a new branch in Singapore, enabling trading of fiat pairs. An upgrade from the one trading pair it previously supported, Binance Singapore now supports Litecoin, Bitcoin and Ethereum against Singaporean Dollar. Besides, Singapore Fast and Secure Transfers system will enable fast deposit and withdrawal.
Candlestick Arrangement

Analyst Says More People Will Buy Bitcoin as Equity Markets Climb
Sunday September 15, 2019

Bitcoin’s price action has grown stagnate in the lower-$10,000 region over the past several days, which has proven to be a positive thing for multiple major altcoins, as they were able to post large...

The post Analyst Says More People Will Buy Bitcoin as Equity Markets Climb appeared first on 12bitplay - Bitcoin Play.

Although Binance is expanding, BNB is under pressure. Technically bullish, BNB is down 3.1 percent in the last day, printing dojis at $30. Even though bulls have a chance, depending on the performance of Bitcoin and other liquid assets, BNB may slide.
In that case, a needed retracement to $25 or lower could be on the cards. Note that BNB is one of the top performers in the first half of the year. Posting near perpendicular ascension, it is likely that there is exhaustion.
However, if buyers flow back, then any breach and close above $43 could see BNB rally to $70. Cementing buyers, the breakout candlestick ought to be with high trading volumes exceeding 4.9 million of June 14.
Technical Indicators
Aforementioned, June 14 bear candlestick leads this trade plan. Marking buyers, the rally past $43 ought to be with high participation above 4.9 million. On the other hand, losses below $30, signaling cooling prices should be with equally high trading volumes.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post Binance Coin (BNB) Prices Are Flat, Is Changpeng “Killing” ETH? appeared first on NewsBTC.

Bitcoin Price Could Hit $8k as Major Outward On Chain Flows Increase
Thursday September 12, 2019

As Bitcoin continues with its now tedious consolidation, analysts are still searching for the next direction. Most are siding with the bears at the moment as downwards momentum is looking more likely. One view...

The post Bitcoin Price Could Hit $8k as Major Outward On Chain Flows Increase appeared first on 12bitplay - Bitcoin Play.

You may also like...