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Bitcoin (BTC) Recovers from Correction, Ripple’s XRP Not Affected by Resona Bank Snub, Top Altcoins in the Green    


Bitcoin (BTC) Recovers from Correction, Ripple’s XRP Not Affected by Resona Bank Snub, Top Altcoins in the Green    
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Bitcoin and altcoins have been on a roll since the beginning of April. No one was quite sure what triggered this unexpected price surge (Bitcoin spiked more than 20 percent on Apr. 2), but many predicted that this rally wouldn’t have legs. Nevertheless, the cryptocurrency market capitalization has recently hit its YTD high of $186 bln, proving naysayers wrong.

CoinMarketCap: the cryptocurrency market capitalization has hit its YTD high this week


(CoinMarketCap: the cryptocurrency market capitalization has hit its YTD high this week)

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Bitcoin is recovering  

Bitcoin, which at the time of writing this article is trading at $5,119.56, has already recovered from the recent correction that almost made its price dip below the $5,000 level. Currently, the main target for the bulls is $5,350, but first, they need to surpass the $5,200 resistance level in order to solidify the upward trend.

eToro’s Mati Greenspan, while commenting on the current market sentiment, claims that there is still excitement in the air. ‘In fact, in my view, the most likely scenario is that we now create a new range, or even, hopefully, a sustained stabilization ... The market is clearly still excited,’ he told Forbes.

As reported by U.Today, Fundstrat’s Tom Lee recently revealed that his ‘Bitcoin Misery Index’ (BMI) reached a value of 89 (its highest level since 2016), which could indicate another bull run.

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Bad news didn’t affect XRP

On Apr. 11, Resona Bank, the fifth largest banking institution in Japan, pulled the plug on Ripple-based payment app MoneyTap that runs on xCurrent. That was viewed as a setback for the San Francisco-based crypto behemoth. However, the Resona Bank snub didn’t take a toll on Ripple’s native token XRP. At press time, the XRP price is holding steady above the $0.32 level, and it’s very likely that its increasing momentum could push the coin’s price to $0.34.

Speaking of other altcoins, the whole CMC top 10 is currently in the green with Binance Coin being the best-performing cryptocurrency from the pack.

CoinMarketCap: Binance Coin saw its price spiking 5.85 percent over the last 24 hours

(CoinMarketCap: Binance Coin saw its price spiking 5.85 percent over the last 24 hours)    

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Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak

  • Alex Morris
    📰 News

    Binance Coin is so far the second cryptocurrency (after EOS) that managed to rebound after January 2018's drawdown


Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak
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After surging by more than 14 percent over the last 24 hours, Binance Coin has managed to surpass its previous ATH that was recorded during the peak of the bull market in January 2018, according to the data provided by CoinMarketCap (CMC). The historic rally was triggered by numerous recent developments inside the exchange’s ecosystem.  

Binance Coin, CoinMarketCap
Binance Coin continues to register double-digit gains, image by CoinMarketCap

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BNB makes history

At the time of writing this article, the price of the BNB token is at $24.65, rising above its previous ATH of $24.46 that was recorded on Jan. 12. Hence, Binance Coin, the seventh largest cryptocurrency by market capitalization, becomes only the second asset to reach a new price peak after the crash of the speculation-driven bull market. EOS, which is sitting one spot above BNB on CMC, achieved a similar feat in May 2018.

‘Binance Coin is outpacing the overall crypto market. While Bitcoin is off 75% from its all-time-high, Binance Coin has recovered. There is fundamental growth and synergy taking place that is contributing to the rising price of Binance Coin,’ says BitBull Capital CEO Joe DiPasquale.

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Pumping other coins

On Apr. 18, Binance launched the mainnet of its custom Blockchain Binance Chain. The migration of BNB tokens from Ethereum to Binance Chain is scheduled to take place on Apr. 23. This is going to be the second largest token swap in history.

Binance, which is now completed with Ethereum, has already on-boarded some Blockchain projects, including Mithril (MITH) that experienced a 70 percent price pump after its launch on Binance Chain.

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