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The binance currency has been known as one of the most stable currencies on the market, mainly because it has a case of actual use on one of the most popular cryptography platforms. The currency peaked at $ 14.46 / 195333 satoshi on August 4 and has since fallen. We saw it fall quite strongly on August 11 touching the 14 with the price of $ 8.85 / 147174 satoshi. The value of BTC has fluctuated between 150/160 thousand satoshi since then, with the value of the dollar that has "suffered" some stronger movements.
Currently a BNB can be purchased for $ 10.52 USD (6.47% up in the last 24 hours) / 153072 satoshi (1.47% increase in the last 24 hours). The daily trading volume of 3,170 BTC is largely linked to Binance. The market capitalization of $ 1,108,950,308 places Binance Coin as the 16 th most valuable cryptocurrency on the market.
Trader bluesfan233 provided the following analysis of the currency:
"BNB repeated support on .5 fib.Ichimoku Cloud – 4hr TK crosses under the cloud is currently trading in the cloud, so you might see it a bit before bouncing back. "
Binance has confirmed many times before (both in positive and negative ways) that it is one of the cryptocurrency exchanges more influential on the market. Clearly they are not going to let this title slip out of their hands, as they recently announced their plans to create fiat-to-crypto trading platforms around the world.
The announcement was made by Changpeng Zhao, CEO of Binance, during CoinDesk's Consensus Singapore event with a fireplace chat. Speaking with Coinetek's Pete Rizzo, Zhao has confirmed that his company expects to launch five to ten fiat-to-crypto exchanges, with ideally two per continent. The announcement coincides with the current Binance activities concerning the launch of a fiat-to-crypto exchange in Singapore.
exchangeThe Binance exchange is safe to use?
"Fiat is still where all the money is … And we" have to open that gate " said Changpeng Zhao, their Singapore fiat-to-crypto platform has gone through its testing phase and it should be launched in the following months. "Mr. Zhao also confirmed that this platform is part of Binance's ongoing effort to develop cooperation with smaller countries, which usually have quietly complied with cryptographic regulations (Malta is main example)
Zhao adds: "You can access top-level government officials and answer your questions in a more direct and efficient way. And they appreciate the investment you are bringing into the local economy. "
With the aforementioned Singapore Stock Exchange, Binance previously opened its first fiat-to-encrypted exchange with exchange pairs with the Uganda Shilling This Ugandan exchange is part of the initiative expansion of Binance in Africa, which is expected to resume in the near future Benjamin Rameau, director of Binance Labs, has previously stated that Africa is the "front and center" of the company's expansion strategy as believes that providing access to funding opportunities for the youngest population in the world is certainly a 21 mission worthy of a century.
During his speech in Singapore, Zhao also tapped the profits of Binance. Once again it confirmed the first quarter profits of $ 200 million, but stressed that profits in the second quarter decreased due to a general decline in the market, with "only" $ 150 million entering the coffers of the company. Naturally, the host asked him if he was worried if the future volatility of the market would significantly affect Binance's profits. Zhao confirmed that he was not a stranger to volatility by confirming that he sold his house in 2014 to buy Bitcoin, after which the price of BTC fell from $ 600 to $ 200. Saying that he held his coins through the drop, Zhao closed his address saying, "Next, I'm not so worried."
In other news, Binance.vision, also known as the Binance Academy, recently came out with the official portfolio for Binance. The so-called Trust Wallet is a decentralized mobile wallet that allows you to store all your resources simply, securely and supported by Binance. Binance is known for its burns, where it uses 20% of its profits to buy back and burn / destroy BNB. This practice will last up to 50% of the total supply has been exhausted and a total of 100,000,000 BNB has remained. The next burn of Binance coins is scheduled for October 15 . The Binance Community Coin Round was also completed a couple of weeks ago, with GoChain (GO) being awarded a free listing placement on Binance.
Overall, Binance Coin and the exchange behind it continue to move strongly in the market. With an ever-increasing influence of Binance, there is no doubt that this currency will continue to function well in the future.
The writers and authors of CapitanAltcoin may or may not have a personal interest in any of the projects and activities mentioned. None of the contents on CaptainAltcoin is an investment advice nor a substitute for advice from a certified financial planner.
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