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Binance Coin Spikes 10%, BNB Regains $90 Billion Market Cap

BNB is up by more than 1,500% over the last 4 months.

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Binance Coin (BNB) jumped nearly 10% on Thursday as the world’s 3rd most valuable cryptocurrency regained the market cap of $90 billion.

According to the latest data published by Coinmarketcap, Binance Coin is now up by more than 1,500% since the start of this year. BNB started this year at a price level of approximately $37. As of writing, BNB is trading near $600 with a market cap of $91 billion.

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BNB is now more valuable than some of the leading financial firms worldwide including French banking giant, BNP Paribas. The latest jump in Binance Coin shows that the cryptocurrency is now eyeing another all-time high above $650.

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Digital exchange Binance, the company behind Binance Coin (BNB), recently expanded its stock token listings with the addition of three new tokenized stock pairings. Earlier this month, Binance announced the listing of Coinbase stock tokens.

Binance exchange has seen significant growth in the last few months amid a surge in demand for crypto trading. In January 2021, Binance Research released a report on the cryptocurrency market and mentioned that 60% of cryptocurrency users prefer exchanges to store their digital assets.

Performance of Binance Coin

The world’s 3rd largest cryptocurrency has already gained more than 100% since the start of April. Binance Coin crossed the market cap of $50 billion in the first week of April. One of the major reasons behind the latest surge in demand for BNB is that Binance has burnt a record number of BNB tokens this year. “When you burn coins, they are taken out of circulation forever. It increases the value of the remaining coins,” Binance CEO, Changpeng Zhao mentioned on Twitter earlier this month.

Binance Coin now accounts for more than 4% of the total market cap of digital currencies. The latest surge in BNB and ETH has caused a sharp drop in the market dominance of Bitcoin. The total market cap of cryptocurrencies crossed $2.1 trillion on Thursday.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.financemagnates.com/cryptocurrency/news/binance-coin-spikes-10-bnb-regains-90-billion-market-cap/

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Crypto Firm Coin Metrics Raises $15 Million Led by Goldman Sachs

Crypto analytics firm Coin Metrics has raised $15 million in funding led by investment bank Goldman Sachs for the company’s global expansion.

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Crypto analytics firm Coin Metrics has raised $15 million in funding led by investment bank Goldman Sachs. Founded in 2017, the firm is planning to use the funding proceeds to grow in Europe and Asia, creating new products while expanding its current offerings.

Coin Metrics Raised $15 Million Led by Goldman Sachs

Coin Metrics, a crypto data provider to institutional clients, has raised $15 million through investors led by Goldman Sachs Group, according to an announcement from the company. The Series B financing will be used to expand on the company’s global expansion.

Coin Metrics provides cryptocurrency market data, feeds, indices, and network risk solutions with clients such as Fidelity Investments, Osprey Funds, and BlockFi.

READ  Goldman Sachs CEO Sees ‘Big Evolution’ Coming to Crypto Space

BlockFi, Acrew Ventures, Morningside Group, and Warburg Serres Investments also participated in the funding round.  While Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, and Collab+Currency each contributed to their respective stakes in the company.

The managing director at Goldman Sachs, Mathew McDermott, will be serving on Coin Metrics’ board of directors.

“Data is critical for the mainstream adoption of crypto assets by traditional investors and financial services players. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights and emerging risk management tools,” he adds.

Goldman Sachs Shows Interest in Bitcoin

Goldman Sachs has been showing an increased interest in Bitcoin this year. In mid-March, the investment bank filed with the U.S. Securities and Exchange Commission for launching a Bitcoin exchange-traded fund (ETF). Besides, a month later, it announced that it would soon offer bitcoin investment vehicles to its clients.

READ  Facebook Aims to Hire People in Ireland for Libra Project

On leading Coin Metric’s investment round, Marianna Lopert-Schaye, firmwide strategy at Goldman Sachs, said:

“We are excited to be leading their (Coin Metrics) Series B, thereby enabling their growth and supporting their mission to be the leading provider of data-driven market insights and intelligence for institutions in crypto.”

#Coin Metrics #Goldman Sachs #Series B Funding Round

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/crypto-firm-coin-metrics-raises-15-million-led-by-goldman-sachs

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🎉 Happy 7th Birthday To Us! Celebrate with an EXTRA 20% Off!

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This week we are celebrating our 7th year in business! Crazy to think of the growth in the industry even since last year. Let’s take a look back at the price of Bitcoin since May 2014 when Coinigy launched:

2014: $450
2015:  $230
2016:  $450
2017:  $1,400
2018:  $9,200
2019:  $5,400
2020: $9,100
2021:  $57,000

2020 was a challenging year for us all but the Coinigy team put our heads down and kept chipping away at our vision for V2. As you can see above, this bull run is not the first bull run that we have been through, and we are sure it won’t be the last. Even though this one may feel different, our focus and determination to continue building the best cryptocurrency application in the industry remains the same.

Enter code CoinigyTurns7 at check out to redeem this offer. Limit one per customer, not redeemable on CryptoFeed subscriptions. Offer expires May 7, 2021 at 11:59 CST. Must be paid using PayPal or Credit card.

As always, none of this would be possible without loyal Coinigy users that have been with us on this journey from $230 to all the way to the ATH of $64,000 and everything between – thank you for your endless support.

-The Coinigy Team

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://insights.coinigy.com/coinigy-turns-7/

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The Bank of England Is the “Victim” of Various Bitcoin-Related Slogans

Someone has a serious attitude against the Bank of England. Either that or they just hate banks in general and happen to live in England. Thus, they are taking their anger out on the nearest centralized financial institution. This week saw the Bank of England repeatedly hit with laser messages that bashed traditional monetary systems

The post The Bank of England Is the “Victim” of Various Bitcoin-Related Slogans appeared first on Live Bitcoin News.

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Someone has a serious attitude against the Bank of England. Either that or they just hate banks in general and happen to live in England. Thus, they are taking their anger out on the nearest centralized financial institution. This week saw the Bank of England repeatedly hit with laser messages that bashed traditional monetary systems while praising bitcoin.

The Bank of England Served as a BTC Billboard

Some of the messages read, “Fiat is the bubble, and bitcoin is the pin” and “Bitcoin fixes this,” implying that there are simply too many problems occurring in today’s monetary institutions and that bitcoin is the answer we have potentially been looking for. In addition to the Bank of England, messages were flashed across several other notable landmarks in the area such as the House of Parliament. Some of the other messages featured were, “Printing money is stealing from the poor” and “Money printer go brrrrr.”

As of late, there has been a great deal of hostility and anger towards how banks and political parties have been handling the coronavirus pandemic. While they may allegedly have their hearts in the right place by printing money constantly as a way of providing stimulus measures for suffering residents, many agree that the constant printing of fiat currency is only a short-term answer and could lead to even larger problems down the line.

For example, the constant printing of money could cause further inflation. In addition, the more stimulus measures are produced, the higher taxes go up in the future, which means many children – as they get older – will be stuck with the tax burdens these stimulus measures are likely to cause. While their parents are likely benefiting, it is their children that will wind up with the problem later, causing many people to ask the question, “Is this fair?”

Stimulus Measures Called Into Question

Furthermore, many of these stimulus measures are simply being produced on the front of trying to help residents who are suffering financially, though many of the stimulus bills passed in America, for example, are filled with superficial elements that serve no benefit to the country. Seriously… Why is the American Congress devoting tens of millions of dollars to gender studies in Pakistan? Especially when so many of the country’s businesses have shut down and people cannot pay their mortgages? Does this make any sense whatsoever?

The stimulus measures have been criticized by many leading financial experts including South African entrepreneur Elon Musk and billionaire investor Mike Novogratz, who says that Congress acts like money “grows on trees.” Either way, the person flashing the messages across the bank has yet to be identified, but it is clear they have great respect for bitcoin and seem to believe that the world’s number one digital currency by market cap can solve a lot more than even leading financial experts seem to give it credit for.

Tags: bank of england, bitcoin, stimulus Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/the-bank-of-england-is-the-victim-of-various-bitcoin-related-slogans/

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XRP Price Analysis: 6 May

After facing tight resistance at $1.62, and following a re-test of the support of $1.41, XRP managed to breach above the aforementioned resistance at press time. With the asset moving back above $1.60

The post XRP Price Analysis: 6 May appeared first on AMBCrypto.

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After facing tight resistance at $1.62, and following a re-test of the support of $1.41, XRP managed to breach above the aforementioned resistance at press time. With the asset moving back above $1.60, the price movement indicated a bullish behavior but the overall market structure may indicate the contrary.

At press time, XRP exhibited a market cap of $77 billion and its 24-hour trading volume was $15.8 billion.

XRP 12-hour chart

XRP/USDT on Trading View

XRP’s 12-hour chart currently indicated its position above resistance at $1.62, suggesting the potential to re-test its 2021 high at $1.966. However, the price structure of XRP showed a rising wedge pattern. This increases the chances of a bearish breakout in the next few days, but considering bullish momentum remains rigid, the price could move toward its next target at $2.30.

However, the chances of another re-test at $1.41 is likely higher, with trading volumes decreasing over the past few days as well. SSL indicator remains bullish for XRP, indicative of a buy signal in the chart but probable corrections will lead to a change.

Market Rationals

XRP/USDT on Trading View

Clear-cut bullish indicators are currently minimal with MACD being only slightly bullish at the moment. Bulls do not have an upper hand at the moment but Relative Strength Index suggested continued buying pressure at press time. However, the buying pressure may decrease as Awesome Oscillator suggested a decrease in bullish momentum.

At the moment, the market remains more neutral even though the price is seemingly rising in the 12-hour time frame.

Bearish on the Gann-Fan?

XRP/USDT on Trading View

According to Gann-Fan indicator, XRP exited a hyper-bullish position back on 21 April itself when the price moved below the 1:1 ratio line. Currently oscillating above the 2:1 line, it suggests that buying pressure is slowly decreasing in comparison to selling pressure, which is on a rise. To maintain its bullish outlook, the price needs to top $1.97 in the next few days, but it is more likely to head towards support at $1.31.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/xrp-price-analysis-6-may

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