The cryptocurrency market saw a massive crash on January 10 and most of the major cryptocurrencies suffered heavy losses, and even on January 11, the market does not seem to be in a good shape. The top losers in the bear attack are currently Bitcoin Cash [BCH], followed by EOS and Tron [TRX].
Bitcoin Cash, at the time of press, was valued at $131.20, with a market cap of $2 billion. The coin registered a 24-hour trade volume of $357 million. The coin recorded a huge 18.71% slip in the past day, and has seen an overall dip of 19.35% in the past week. The coin is slowing recovering as it noted a rise of 0.19% in the past hour.
The fourth-largest coin was highly traded on Huobi, with $50 million in trading volume with the BCH/USDT pair. Huobi was followed by LBank, which registered a trading volume of $32 million with the BCH/BTC pair. Upbit, in the third place, noted a volume of $25 million with the BCH/KRW pair.
As per the CoinMarketCap chart, EOS recorded a loss of 17.57% over the past day and had a market cap $2 billion. The coin registered a 24-hour trade volume of $1 billion and made a recovery of 0.38% over the past hour. The coin saw a dip of 10.54% over the past week.
The coin was highly traded on OKEx, with a trading volume of $159 million with the EOS/USDT pair. The second place was taken by Bibox, which registered a volume of $95 million with the EOS/ETH pair. Bibox was followed by Bitz, which traded $91 million volume of the coin with the EOS/USDT pair.
TRX was pumping for the past few weeks, but this pump was suddenly restricted on January 10. At the time of press, the coin was valued at $0.0266, with a market cap of $1.7 billion. The 24-hour trading volume of the coin was $1 billion, with a fall of 16.95% over the past day. The coin registered an overall growth of 31.45% and is seen to be making a recovery with a 0.80% growth in the past hour.
The coin was highly traded on Upbit, with a trading volume of $176 million with the TRX/KRW pair. The exchange that reported the second-highest trade volume was Binance, with $141 million with the TRX/USDT pair. Binance followed itself as it registered a volume of $110 million with the TRX/BTC pair.
Binance Coin (BNB) Long-term Price Analysis – December 16
BNB/USD Long-term Trend – Ranging
Distribution territories: $8, $9, $10
Accumulation territories: $3, $2, $1
The BNB/USD market worth has been experiencing choppy price movements around $5 mark over about a week until today. On December 12, the crypto weakly and briefly touched past the 14-day SMA northwards only to lose out to the US dollar on the following day.
The present range zones do surface around $5 and $4 marks in the long-term trade chart. The 50-day SMA is found at $7 market line over the 14-day SMA that is situated at $5 market line. The crypto-market has been trading below the 14-day SMA and within the range. The Stochastic Oscillators have crossed around range 25 to seemingly start a consolidation move that, yet, another warning that the bulls lack the potency of coming back into the BNB/USD trade.
The bulls may still be finding it uglier against the strong US dollar market valuation while this week’s trading sessions commence fully. Nevertheless, a strong reversal of a bearish move could give in to an upswing but may be short-lived; that is may lack sustainability.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Binance coin (BNB) fireworks explode: Binance DEX New Video Demo goes live
- Binance ignores market bear pressure adding over 8% in less than 24-hours.
- Binance DEX to launch in the early 2019: Demo Video shows semblance to the centralized platform.
The official token issued by the largest cryptocurrency exchange, Binance has exploded in fireworks on Wednesday morning (GMT). The data on CoinMarketCap shows that BNB is up more than 8% in the last 24 hours. Besides, a look at the chart shows a bullish trend since Monday as opposed to the trend in other digital assets like Bitcoin (BTC), XRP and Ethereum (ETH).
Binance coin is up 12.49% against BTC and 13.23% against ETH. The tokens trading volume has increased significantly from $39 million at the close of the session yesterday to $45 million at press time. It’s market cap has remained relatively stable and currently stands at $785 million. Binance Coin is ranked as the 13th largest digital asset.
Binance is the world’s largest crypto exchange after trading volumes have been adjusted. The exchange is planning to launch a decentralized exchange referred to as Binance DEX in the first quarter of 2019. The company, preparation for the launch, today released a video demo that shows how Binance DEX user interface looks. The video was released together with a web crypto wallet as well as a public explorer for its own blockchain protocol called Binance Chain. The company told the community that the blockchain will be made available in a testnet not long from now.
The video demo shows semblance to existing centralized exchange user interface. However, the decentralized platform interface comes with several new features such as a balance tab and a user icon that will be used to display the wallet addresses belonging to users.
User funds on the DEX will be secured with decentralized wallet applications like Trust Wallet, which has a server-free infrastructure that stores private keys only on the user’s device, meaning only users have access to their funds,” Binance explained in a statement released on Wednesday.
BNB/USD 15’ chart
Binance coin (BNB) goes ballistic after Changpeng Zhao announces the launch of proprietary blockchain
- BNB gains 25% in a matter of hours.
- Binance is going to have its own blockchain and decentralized exchange.
BNB, a native token of cryptocurrency exchange Binance, gained 25% on Tuesday after the company’s founder and CEO Changpeng Zhao announced the decision to launch a blockchain platform Binance Chain.
“We are launching Binancechain very soon, in a couple of months or so, and you will be able to issue tokens on that…I think there will be millions of coins and thousands of blockchains,” he said speaking at “Decrypting Blockchain for Business” conference organized by Forbes Asia.
The event was positioned as a gathering where Asia’s wealthiest families can learn the business of blockchain. Interestingly, the official reporting on the conference does not contain the information about the upcoming Binance Chain. However, Michael del Castillo, the author of the material, published Changpeng Zhao’s announcement in his personal Twitter account.
Binance revealed the plans to develop the proprietary blockchain and the decentralized cryptocurrency exchange back in March. In August Changpeng Zhao showed a demo-version of Binance-based decentralized exchange; however, it was not mentioned during Forbes conference in Asia.
Anyway, the news triggered a strong buying interest and pushed Binance coin above $6.0. It peaked at $6.2 and retreated to $6.04 by the time of writing, gaining over 11% since this time on Tuesday. BNB takes the 13th place in the rating of cryptocurrency assets provided by CoinMarketCap.