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Stellar (XLM) Leaves Binance Coin (BNB) Behind on CMC, Raising Its Market Cap Within Hours

  • Yuri Molchan
    📰 News

     

    Within a few hours XLM managed to jump over the head of BNB and push it away from position #7 on Coinmarketcap. Not for the first time lately, though.


Stellar (XLM) Leaves Binance Coin (BNB) Behind on CMC, Raising Its Market Cap Within Hours
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This morning Stellar Lumens (XLM) was the holder of place #8 on CMC with Binance Coin (BNB) sitting in front of it in spot #7.


Now they have traded places.

Stellar (XLM) Leaves Binance Coin (BNB)

Stellar (XLM) Leaves Binance Coin (BNB)

 

Stellar rises on the news of banks launching XLM-based stablecoins

Earlier on Thursday, U.Today reported about massive transfers of XLM in the amount of 1 mln tokens between unidentified wallets, with one of them being sent to the Coinbase exchange.

This reportedly happened a short while after IBM announced the launch of its international blockchain payment system based on the Stellar platform. Six global banks plan to use IBM’s World Wire system and transfer value through it using XLM. The names of three of them have been revealed so far – RCBC, Banco Bradesco and Busan Bank.

They also plan to issue their own stablecoins based on Sellar.

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Other recent XLM developments

As reported previously by U.Today, recently Stellar dropped its old starship logo for a new one, explaining that no serious high-ranking financial company has a rocket ship as a logo, so it is time to get more serious.

As for BNB and XLM, it is not the first time they have exchanged places on CMC. One of them has been getting in front of the other from time to time recently.

Cover image via u.today
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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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