Binance’s Boost: BNB Ready for $43 After Strong Signal
Binance Coin (BNB) is up 7.1 percent
Free airdrop for XLM owners in Binance
Argentine Peso Tanks Hard, Could it be Bullish for Bitcoin?
Monday August 12, 2019
Bitcoin, the world’s number one cryptocurrency by market capitalisation, has been championed by many as a suitable hedge against the often-reckless and self-serving economic policies of governments. This includes episodes of currency devaluation caused...
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Binance, amassing $775k after unknowingly staking XLM, will continue staking. Preparing to boost XLM accounts with free airdrops, BNB prices are up 7.1 percent in the last day.
Binance Coin Price Analysis
Trading in some periphery exchanges can not only be a source of headache because of liquidity issues, but there is also the risk of being swept clean. In H1 2019 alone, losses resulting from cryptocurrency exchange hacking exceeded $210 million. The majority is from the QuadrigaCX private key disappearance after Cotten passing.
Meanwhile, Bitpoint is the latest, losing $32 million worth of different digital assets. Even so, that’s not to say Binance is impervious as they lost $40 million in BTC back in May 2019.
However, progress is positive as the heist was an expensive lesson for Changpeng Zhao and team. Apart from their ambitious expansion drive and offering irresistible features for their global clientele, it is turning out that Binance is generous.
The Malta-based exchange unknowingly staked some of their Stellar Lumens (XLM) holdings earning $775k or 9.5 million XLM. As a result, they will begin airdropping this lot to XLM customers.
“Binance is planning to share the XLM staking rewards we have been unknowingly receiving since last year. Specifically, Binance has decided to distribute the 9,500,000 XLM in staking rewards accrued to date, which is worth about $775,000, to all users who keep XLM balances starting July 20.”
Ripple Price (XRP) Targets Fresh Weekly Low After Bitcoin Nosedives
Wednesday August 14, 2019
Ripple price is trading in a downtrend below the $0.3000 and $0.3050 resistances against the US dollar. The price is likely to extend its decline considering the recent decline in bitcoin price below $11,000....
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Trading 7.1 percent higher in the last 24 hours, BNB has support. Already, there is confirmation of the double bar bull reversal pattern of July 16 and 17 following the high volume upthrust of July 18.
Although the conservative type of traders can wait for a full break and close above $43 before buying the dips, aggressive traders can act now. That means buying the retracement in smaller time frames with a stop-limit just below July 16 low of $25.
Good news is there will be more weight for this stance if prices break above the middle Bollinger Band (BB) by the end of the day.
In such a case, the first target will be June 2019 highs of $43. Depending on momentum, the next aim is $70. On the reverse side, and as per previous assertions, any degradation below $25 could see BNB drop to $20 in a retest.
Because of the high trading volumes of July 18, there is a likelihood that BNB will float higher. For buy trend continuation, the break out bar signaling buyers ought to be with high participation exceeding 6 million of July 18. Conversely, bears will be back if prices fall below $25 with equally high trading volumes.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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This Cryptocurrency Plunged 62% After SEC Files Emergency Lawsuit
Tuesday August 13, 2019
The United States Securities and Exchange Commission has filed an emergency lawsuit in a Brooklyn federal court in an attempt to prevent a somewhat popular ICO from spending the money that was raised from...
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