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Binance Suggest Causes That Drove BNB to Crypto Top-10 List

  • Yuri Molchan
    📰 News

    The other day, BNB managed to enter the top-ten list of digital assets on Coinmarketcap, here are possible reasons for that


Binance Suggest Causes That Drove BNB to Crypto Top-10 List
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Contents

On Wednesday, February 6, U.Today reported that BNB (Binance Coin), the native coin of the world’s largest crypto exchange, became the member of the top-ten list, having pushed out Cardano and Bitcoin Cash SV from their spots. Now BNB is in position #10.

The Binance team has suggested several reasons, how the recent Binance activities had pushed the situation to the current state of affairs.


Binance was launched just a couple of years ago but has managed to become the largest global exchange by trading volumes. Its BNB is already implemented by numerous services and platforms already, providing a great many of use cases for it.

Binance global expansion, fiat platforms, institutional investors

Binance is by itself quite popular. However, they have been making an aggressive expansion recently, setting up a Singapore-based fiat-to-crypto exchange and planning to open similar one titled Binance Uganda and Binance Jersey later this year, thus expanding their user-base.

For institutional investors, Binance have opened a system of sub accounts for over-the-counter trading. Besides, all Binance users can now buy crypto using their bank cards.

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ICOs on Binance Launchpad, BNB Charity

At the end of 2018, Binance presented to its community a new platform for helping new promising crypto projects take off – Binance Launchpad. A few successful ICOs have already taken place their, including the BitTorrent one (BTT), which was over in 18 minutes, leaving the majority of investors angry and unsatisfied though – due to technical issues. Many of them after that began accusing Binance and Tron in being a scam.

Also Binance became famous for its charity activities in 2018. In summer together with Tron raised substantial amounts of crypto, mainly in BNB, and transferred them to the victims of floods in Japan.

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
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