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IOTA and XRP reign over crypto market amidst bearish sentiment
Almost every coin in the crypto-verse was enduring a slump but IOTA and XRP were seen emerging as…
The entire crypto market was seen riding bulls. Almost all the assets were bagging immense gains over the last couple of days. Binance coin [BNB] was undoubtedly the star of the latest crypto rally.
The world’s largest cryptocurrency exchange, Binance made sure to keep its native currency BNB on the top as well. While the asset kept a low profile throughout the last two months, BNB broke several records in 48 hours. Surging by almost 95% over the last seven days, the bulls managed to push past $100. During the writing time, BNB was trading for an all-time high of $103.66 with a 39.73% surge over the day.
The asset also excelled in terms of market cap as it sprung up to the seventh position. As the crypto industry’s overall market cap stood at a high of $1.37 trillion, BNB aided this journey as its market cap rose to $15.39 billion.
Binance coin one-hour price chart
The daily moving average indicator used in the one-hour price chart revealed a bullish sentiment. The 50 daily moving average was over the 100 daily moving average forming a bullish crossover. The Bollinger bands indicator proposed an increase in the coin’s volatility which could be favourable to the altcoin. The volume in the BNB market on Binance was relatively high than its been in the past.
Binance coin one-day price chart
The BNB daily price chart on Binance exhibited increased volume. The Awesome Oscillator indicator put forth bold green closing bars which suggested that BNB could prolong its bullish trend for a while now. The Relative Strength Index indicator announced that the altcoin was being overbought as the RSI marker was above the 80 median.
The CEO of Binance Changpeng Zhao aka CZ tweeted about the same and seemed ecstatic about the altcoin’s price change.
#BNB the beginning. pic.twitter.com/7UCTTawlOo
— CZ ? Binance (@cz_binance) February 9, 2021
Earlier today, CZ urged people to share their predictions for BNB as he had gifts for them. He tweeted,
“If you made #BNB price predictions before, please link them below. Looking for really really old ones. Folded hands
Will retweet a few of them, and may even throw in a few hoodies.”
