Sally Ho's Technical Analysis 22 September 2019

11m
cryptodaily

Bitcoin Sheds $10,000 Support Again Ahead of Bakkt Launch

1h
newsbtc

SEC Driving Cryptocurrency To China: Interview With DECENT

2h
bitcoinwarrior

Is Bitcoin the Answer to the Bond Bubble?

2h
beincrypto

Everipedia co-founder Sam Kazemian is building a better stablecoin with Frax [INTERVIEW]

3h
cryptoslate

Binance US unavailable in 13 major states including Washington

4h
bitcoinwarrior

Everipedia co-founder Sam Kazemian is building a better stablecoin with Decentral [INTERVIEW]

4h
cryptoslate

Armenian IT Company Accused of Illegal Electricity Use to Mine Crypto

4h
cointelegraph

Coinbase Considering Support for 17 Additional Digital Assets

4h
dcebrief

Venezuela’s Monthly Inflation Rate Spiked to 62.5% in August 2019

5h
nulltx

Swiss University Fights Fake Diplomas With Blockchain Technology

5h
cointelegraph

Ripple’s XRP Faces Steep But Healthy Consolidation

6h
zycrypto

Top 5 Ethereum Faucets to Start Earning Ether in 2019

6h
cryptoglobe

A New All-Time High For Bitcoin May Take Another 300 Days – Yoni Assia

6h
zycrypto

Blackstone CEO Hates Bitcoin but Loves Blockchain

6h
beincrypto

Two Firms to Build Blockchain-Based Solution for European Shipping

7h
cointelegraph

Crypto Tidbits: Bakkt Bitcoin Futures Inbound, NASA Hints at...

7h
newsbtc

History Suggests Bitcoin is Currently in Early Stages of Next Bull Run

7h
cryptonewmedia

10 Best Performing S&P 500 Stocks Since 2000. You’ll Never Guess…

7h
cryptonewmedia

Bitcoin Magazine Week in Review

8h
cryptonewmedia

Real-Time Strategy Game for Mining ‘Crypto Gold’ Launches on WAX

8h
cointelegraph

North Korea’s crypto countermeasures are an answer to Bitcoin

8h
cryptonewmedia

Colombia Seeks to Up the Ante on Crypto Legislation

8h
livebitcoinnews

Libra Claims it is Not an “Investment”; 2020 Launch Fixed Despite…

8h
cryptonewmedia

Bitcoin At $25,000 and Ether At $1,000 Will Happen Before End of Year, Says Author William Mougayar

8h
zycrypto


Binance Coin (BNB) Price Breaks Its All Time High of $36.3, Lowers Its Fees

After reaching its ATH of $36.3, Binance DEX announced it would lower its fee structure for BNB. The validators have proposed and voted on lowering the fee structure on Binance Chain, most of which are reduced by 50%.

Binance Сoin price continued its rising trend as the exchange accelerates its pace of developments. BNB has outperformed the majority of the top cryptocurrencies in the market and if the bulls continue above the ATH, higher resistance is found at $36.22 and $37. Above $37, further resistance is located at $38.53 and at $40.

After a steady increase in the market valuation of the coin, Binance DEX announced it would lower its fee structure.

Binance is already actively testing margin trading and opening more fiat on-ramps for the BNB token. This will further attract users and liquidity to the exchange which should have a positive effect on its token price. From the exchange they said:

“Due to the recent BNB price rise, the validators have proposed and voted on lowering the fee structure on Binance Chain, most of which are reduced by 50%.”

#Binance Chain Mainnet Lowering Fee Structurehttps://t.co/xnEfGiO8We pic.twitter.com/n4xnbngyS5

— Binance DEX (@Binance_DEX) June 12, 2019

The update can be observed on the proposed transaction and will include: cancel, order expire, IOC, transfer, multi-send, issue asset, burn asset, freeze and unfreeze asset, mint asset, proposal, add deposit, and list fees.

The thing users are complaining to is an existence of a “Cancel fee”( that is now 0.00005 BNB (previously 0.0001 BNB)). However, we think that this is a natural thing to have since there is a certain cost of making a smart contract. Also, other exchanges have it as well. OKEx, for example, has “withdrawing fee” that is not fixed, but calculated specially for each token.

Since the December low, when BNB was trading at $4.12, it has experienced a massive bull rally that has taken its market valuation up 760 percent to reach its previous record of $35.16 on May 25th.

It’s nothing strange in being optimistic since this, one of the biggest cryptocurrency exchanges by trading volume, has the ability to continue adding value to the industry despite the 2018 cryptocurrency market downturn. This includes Binance Launchpad, Bittorrent IEO and Binance Chain mainnet.

Following this announcement, BNB price surged approximately 6.72 percent to its all-time high of $36.3.

While writing this text, Changpeng Zhao released another tweet:

$BNB price went up more, more fees go down.

Let’s see it brings more users. Virtuous cycle. https://t.co/GMHG4054od

— CZ Binance (@cz_binance) June 13, 2019

Be it as it may, Binance is going towards breaking $5 billion market cap and it doesn’t seem to end. At the time of writing, Binance Coin was ranked in 7th place among the largest cryptocurrencies with a total market capitalization of around $4.99 billion.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments