Bitcoin Cash [BCH] bleeds by 18.71%; EOS and Tron [TRX] fail to recover as tokens fall by over 16% | ELEVENEWS
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Bitcoin Cash [BCH] bleeds by 18.71%; EOS and Tron [TRX] fail to recover as tokens fall by over 16%

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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].

Source: CoinMarketCap

Source: CoinMarketCap

Source: CoinMarketCap

Source: CoinMarketCap

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.

Source: CoinMarketCap

Source: CoinMarketCap

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.

Source: CoinMarketCap

Source: CoinMarketCap

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.

Source. ambcrypto

Binance Coin

Binance Coin (BNB) Heads Toward $30 With A $4 Billion Valuation

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Binance Coin (BNB) has been doing well and hitting new major milestones. From the recent happening on Sunday, May 19, BNB’s marketcap was freshly valued at over $4 billion as it heads towards $30 per coin.

BNB Hits New Milestone

 

This definitely is incredible news for BNB coin holders, users of the exchange, and the crypto community as a whole.

The new feat isn’t surprising, Binance has had a lot of great announcements which have been positively received by the community in the past few months. Part of which is the launch of the highly anticipated mainnet of the Binance Chain.

That aside, there have been over a hundred cryptocurrencies available for trading on the Binance exchange platform since the beginning of 2019.

Also, Binance recent coin burn, which is the 7th, happened on April 16. These, out of many, have made Binance, and BNB – the Binance coin – top choice among others.

Positive Outweighs Negative

Despite the recent hack on the exchange, the Binance community has shown a lot of support and are very excited about the future. This can be attributed to the way the company’s founder, CZ handled the situation.

ZyCrypto has earlier reported the hack on the 8th of May. Binance had been hacked, with the hackers making away with the sum of 7,000 bitcoins valued at $41 million at the time.

Coin Price

The BNB price rally started roughly in January 2019. From January 18 to April 18, BNB spiked from $6 to $21, which was well over 200% growth.

BNB

BNB – the 7th most valuable cryptocurrency currently trades at $29.08 with a market cap of $4.1 billion.

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Binance Coin

Binance’s CZ Announces Date for Resuming Operations After Hacker Attack, BNB Spikes Nearly 10 Percent

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In a recent post on the company’s blog, Binance’s CEO gives the community an update on the resumption of fund transfers

The security breach attack that hit Binance recently and deprived it of 7,000 has stirred the community greatly. However, Binance’s CEO says the team has become even tighter and more efficient after facing the problem.

Now, Changpeng Zhao (simply referred to as just CZ) is updating the community on when deposits and withdrawals will resume.

Trading will be halted

In a blog post published on Sunday, CZ says that the Binance team has made substantial progress in upgrading the system of the Binance security. A number of security features have been set up. CZ says more details will be shared later on.

However, he has announced the exact data for the resumption of withdrawals and deposits, making it Tuesday, May 14. CZ says that to do that, trading will be suspended, though.

Binance community satisfied

In the Twitter comment thread, most comments to the announcement were positive – people are praising Binance for transparency and an efficient job on handling the situation.

https://twitter.com/binance/status/1127608829301014528

One Twitter user, though, @kallitechniko, questioned why Binance did not contact any authorities at all, reminding everyone that Binance is not a decentralized exchange.

https://twitter.com/binance/status/1127608829301014528

Binance is the only top ten coin in the green

As reported by U.Today earlier on Monday, the crypto community is having heated discussions regarding the rumours that eBay may soon embrace crypto.

A rumour on Twitter has it that this particular coin will be Binance Coin (BNB).

Coincidence or not, BNB is currently the only digital asset appreciating on the top ten list – rising by almost 10 percent.

CoinMarketCap.com

CoinMarketCap.com

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BNB/USD Price Prediction — The Price Plummeted Below $20: Is That the Bottom or Not?

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After rapid growth, a deep correction should always happen – the rule all traders should know and follow on the crypto market. In this case, BNB is such a coin.

The hacking of the world’s largest cryptocurrency exchange, Binance, provoked not only a barrage of discontent among the community but also led to a fall in the value of its platform coin – Binance Coin.

As a result of hacker attacks on the trading platform, more than 7,000 BTC worth almost $41 million were stolen. The main digital asset of the BNB platform began to fall in price almost immediately after the Binance administration posted a message confirming the fact of the attack and theft of users’ funds.

The market capitalization of cryptocurrency slipped to $2.7 billion; as a result, BNB decreased to 8th place in the ranking of the top digital assets. It is worth noting that in January the coin was trading at the level of $6, and by the end of April, the token soared to $26 (+330%).

BNB charts by CoinMarketCap

Since the beginning of 2019, the BNB coin has shown steady growth, reaching a maximum in April. The main drivers of asset value growth were the launch of the Binance Chain exchange network and the transition of many projects to this blockchain.

Now, let’s analyze the coin from a technical perspective.

The long-awaited BNB correction has finally started. The investment attractiveness of Binance Coin has grown so much lately that it has changed the natural flow of events, maximally delaying the beginning of the necessary rollback.

 BNB/USD chart by tradingview

Most likely this is only the first stage of the fall, as the price should at least go down to the accumulation zone at $15-17 to fully update the highs. That is the possible long-term scenario.

On the other hand, BNB looks promising in short time frames. According to the chart, bears could not push the price below $18.30, which is followed by a bounce back to $19 and above.

BNB/USD chart by tradingview

The MACD indicator is bullish, so the coin has all chances to reach the $20 mark again in the nearest days.

The Binance Coin is trading at $19.30 at the time of the writing.

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