As Bitcoin starts to hit its groove again, all other markets are seemingly quite eager to move up alongside it. Except for Tether, none of the top markets is still in the red at the time of writing. The biggest gainer so far is Binance Coin, as its value is seemingly going off the charts quite quickly. A promising Binance Coin price trend for those who invested in this token many moons ago.
Binance Coin Price Bullrun Isn’t Stopping
When looking at all of the top 20 crypto markets, it quickly becomes apparent one particular listing outperforms everything else with ease. Binance Coin has been on an absolute tear in early 2019, and it is seemingly well underway to record a new all-time high in very quick succession. To be more specific, the all-time high for BNB sits at $17.08, whereas the current value is $13.58. Not that big of a gap, at least when compared to all other markets.
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Over the past 24 hours, the Binance Coin price rose by another 21.5% in USD value, 50.6% in BTC value, and gained 18.6% on Ethereum. All of these trends are incredible in their own right, as BNB turned bullish well ahead before Bitcoin was able to finally slide over into the green again. Considering how one BNB is now worth 10% of one Ether, things have gotten very interesting in the cryptocurrency industry all of a sudden.
No one will be surprised to learn there are a lot of people unhappy about the fact they never bought into the BNB ICO. At that time, some tokens were valued at less than 0.5% of their current value. Even so, no one expected Binance to become the biggest crypto exchange in the world. The company has surprised a lot of people in a positive manner lately, and the price is showing it.
Imagine 100,000 #bnb at 10 cent each….now 13dollar plus.
— Stanizman (@stanizman) March 5, 2019
This sentiment is echoed by BlueNET Crypto, who acknowledge Binance Coin wouldn’t be as successful without the Binance team putting in so much work. There is certainly a case to be made there. No cryptocurrency project can ever attain a high value without a solid ecosystem surrounding it. In the case of BNB, new use cases continue to be added on a regular basis these days. This only further shows there is a lot more to this token than initially meets the eye.
— BlueNET Crypto (@BlueNETGaming) March 5, 2019
When looking at the actual BBN price chart, however, it quickly becomes apparent this current trend may be too bullish to sustain for very long. A 20%+ gain in mere hours will usually result in a correction waiting to happen. However, BNB has always been a different breed in the cryptocurrency industry, and it seems there is plenty of support to keep this party going a while longer.
— ハナハナ (@hana_go_jp) March 5, 2019
In the end, it is not surprising to Binance Coin pop off first and foremost. This was a matter of time, as all other markets are either too fragile to move up or simply face too much resistance to make any big jumps occur. BNB is DOing its own thing in this regard, although that won’t automatically lead to a new all-time high in the coming days. There will be plenty of resistance along the way.
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.