Market Roundup: BTC Not Stopping Anytime Quickly, BNB Moons

The tip of the week brings extra all-time highs as bitcoin (BTC), ethereum (ETH), and several other majors all noticed positive factors following every week that began off bearish, however turned bullish extraordinarily quick.

On Friday, Feb 19, bitcoin reached one other all-time excessive: $55,843. For the fifth consecutive day this week, the world’s hottest cryptocurrency not solely broke one other all-time excessive but additionally broke the $1 trillion market cap degree, one thing by no means seen earlier than. 

Bitcoin has proven relative power all the week and it was inevitable following Thursday’s (Feb 18) market roundup that an all-time excessive was in play as soon as once more. 

Binance Coin Nonetheless Mooning

Discuss of the week needs to be the meteoric rise of Binance Coin (BNB). The Binance trade native token has seen an unimaginable 170% surge in value. 

Supply: Tradingview

Binance Coin is now up 800% in 2021 already. Moreover, the undertaking has now overtaken Tether (USDT), Polkadot (DOT), Cardano (ADA), and Ripple (XRP) for the third spot, with a market cap of slightly below $50 billion. 

Supply: CoinGecko

Prime 100 Greatest Gainer 

It comes as no shock that the largest gainer within the high 100 is Binance Coin. On Friday Feb 19, BNB rallied 60%, even greater than Wednesday’s and Thursday’s value rallies. 

Different trade tokens additionally made the record, together with Huobi Token (HT) and OKEx’s OKB token. PancakeSwap (CAKE) was additionally up one other 37% following the rally from the day past. 

Supply: CoinGecko

Not solely did CAKE climb 37%, however the Decentralized Trade (DEX) additionally noticed each day quantity surpass rival Uniswap. The newest Ethereum gasoline charges have put a dampener on Ethereum-based DEXs as Binance Sensible Chain (BSC) DEX PancakeSwap positive factors reputation for decrease charges. 

Coupled with the latest information that Binance was not processing ethereum transactions as a consequence of so-called congestion on the Ethereum community, CAKE had accomplished almost $2 billion in each day quantity in comparison with Uniswap’s $1.17 billion. 

Supply: CoinGecko

ETH Lastly Tapping $2,000?

ETH has been a laggard this week. The second greatest crypto has not managed to interrupt the $2,000 mark simply but. Nonetheless, it continues to achieve on the resistance degree. On Friday Feb 19, Ethereum reached $1,972 and appears set to presumably break $2,000 over the weekend if Bitcoin behaves. 

All eyes shall be on ETH over the subsequent few days to see if it could possibly pull off a rally much like different main caps similar to Binance Coin. 

Supply: TradingView

The following few days will show important for BTC and ETH as each look to ascertain new highs out there. Altcoins are seeing massive positive factors and can doubtless proceed if BTC and ETH are stagnant over the subsequent couple of days.

All in all, it seems to be an thrilling time for cryptocurrency traders. However is it secure to say but that alt season is lastly right here?

The put up Market Roundup: BTC Not Stopping Anytime Quickly, BNB Moons appeared first on BeInCrypto.


Leave a comment

Your email address will not be published. Required fields are marked *