Binance Coin Price Surpasses $10 Again as Momentum Turns Bullish

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In the cryptocurrency industry, things are always evolving in many different ways. While most of the top currencies are moving up slightly, it seems the Binance Coin price is becoming pretty bullish once again. That in itself is a very interesting development, primarily because the $10 target is well within reach once again.

Binance Coin Price Tries to Rise

It is not all that easy for any cryptocurrency to make a positive push as of right now. That in itself is surprising to some, although most people can see the bigger picture. With Bitcoin still remaining on somewhat uncertain ground, it is only normal the alternative markets will face a few hurdles along the way as well. Binance Coin is trying to break free from the pack right now, although it is still too early to speak of a confirmed breakout.

To put this in perspective, it seems as if things are heading in a promising direction where the Binance Coin price is concerned. With a 4.3% gain in USD value, the current price of $9.95 is not too far off the $10 mark. There is also a 3.5% gain in BTC and 2.2% gain in ETH value. All things are coming up green for Binance Coin all of a sudden, although it remains to be seen if the trading volume can effectively support this uptrend for very long.

One of the main reasons for this ongoing rise of BNB is how the ecosystem continues to grow in many different ways. Using BNB is about much more than reducing Binance trading fees these days, which only further strengthens the interest in this asset. Although the number of major use cases is still limited, significant progress has been made in recent months.

There is also an interesting tweet by the Binance CEO which seems to confirm Binance Coin is the top token on Ethereum’s blockchain in terms of market cap. That in itself will provide ammunition for a fair few different debates in the future. It is vastly more prominent than Maker, USD Coin, and TrueUSD, although all of those tokens target a very different audience first and foremost.

Last but not least, there are a few people who would like to see a partnership between PayPal and Binance in the future. While there is a case to be made there, it seems unlikely such a partnership will ever happen in the real world. After all, those companies are very different from one another. It could be a lucrative partnership for both companies, though.

With this positive momentum locked in place, it is evident things may continue down this path for a few more hours. Once the price hits $10, however, it is possible there will be a lot more negative pressure on BNB, for rather obvious reasons. It is evident there is no confirmation a bull trend will effectively materialize at this time. As such, there is a genuine reason to be cautious where this uptrend is concerned.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

The post Binance Coin Price Surpasses $10 Again as Momentum Turns Bullish appeared first on NullTX.



February 27, 2019 at 06:52PM

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