Binance Coin [BNB], a multi-language cryptocurrency that is traded globally has its price escalated to $17.29 from $12.63 last week. The prices were as low as $12.63 on May 30th and hit the rock bottom of $12.29 on the same day. There was a small hike in the value the next day to $13.10 and reached $14.12, the second highest value of BNB in the week the same day.
The value was wavering with $15 being the resistance and the nearest touchdown was $14.94 on June 3rd. On the very next day, the price dampened to $13.67.
It broke the resistance of $15 on June 15th and spiked up to $15.13. After a few minor fluctuations, the curve kept stretching upwards until it hit $15.98. After a few hours, the coin hit its peak $17.39 after which the prices fell down by $1.11 and reached $16.28. The coin then gained momentum and is currently valued at $16.63.
Throughout this week, Binance has listed QuarkChain [QKC], SingularityNET [AGI], Nexus [NXS] and IoTex [IOTX] with people speculating that to be a major reason for the constant rise in the price of BNB.
Binance has also listed new trading pairs like XRP/BNB, TUSD/USDT, XLM/USDT and IOTA/USDT improving the chances and possibilities to trade BNB on a larger scale.
Bitcoin announced about listing QKC and since QKC was not listed on CoinMarketCap, peers confusingly invested in QRK.
After that, CZ Binance aka Zhao Changpeng, CEO of Binance tweeted:
“QKC token distribution, created by a community member. This shows: 1. the crowd is powerful. 2. the crowd is powerful given the transparent nature of blockchain. 3. most of the usable circulating supply is already on Binance. 4. expect high volatility, ie, swings in BOTH ways.”
A.Alsari, a Twitter user tweeted that:
““40% QKC will be used for MINING and is already locked by smart contract. Other distribution includes 15% team, 15% foundation and 5% advisor , they will all be locked up to 2 years using smart contract.”
After all the hype, Binance [BNB] has a market cap of $1.9 billion and is currently trading at a value of $16.73.
source: https://ambcrypto.com/binance-coin-bnb-spikes-up-pairing-ripple-stellar-lumens-many-more/
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