BNB climbs to rank 5
The market leader cannot sustainably confirm the resistance at 10400 USD and is again approaching the magic limit on Sunday. Also for most Alts the week ends with losses. The situation is different for the Exchange-Coin BNB. After the bullish reports of the previous days, the in-house Binance token ends the week at position 5 of the crypto charts. We take a look at the current market situation.
Bitcoin bulls with problems
The Bitcoin remains in the range between 10000 USD and 10400 USD. After yesterday’s uptrend, the leading crypto currency falls back to a price of 10302 USD on Sunday. This leaves bullish investors with only support at 10200 USD before another showdown at the psychological 10000 USD mark. At the same time, a rising 24-hour volume of around USD 45 billion indicates that investors are showing great interest.
At the end of the week, the BTC Dominance Index is at 56.6%. The alternative assets are able to maintain the level of the previous days, although most of the assets will fall south on Sunday. Thereby there are changes in the top 20.
BNB turns up
BNB reaches a new 13-month high of USD 30.25, positioning itself at number 5 on the crypto charts. Due to today’s bull run, the stock market coins Polkadot and Chainlink have moved up to 6th and 7th place, respectively, and overall BNB has seen a price gain of more than 50% this week. With the development of the Binance Smart Chain, the Major Exchange is investing USD 100 million in the DeFi market and, with BurgerSwap, provides an alternative to the hyped uniswap. In the top 20 today, only NBB and Monero (+ 1.14 %) can show green figures.
Yearn.finance now at 35000 USD
Yearn.finance is knocking on the door of the coveted Top 20 again on Sunday. At the time of writing, the DeFi-Coin is ranked 21st in the crypto charts with a rate of 35643 USD. The high coin price can be explained by the low suppley (29967 YFI). The project is a decentralized financial platform that offers traders several functions. These include automated marketing and leveraged trading. Since its launch, the ROI (Return of Invest) has been a respectable 3333%. Yearn.Finance is just one example of the growing interest in DeFi projects. On Monday the coin will be listed on the well-known stock exchange KuCoin.
What we can expect next week
- Chainlink AMA on youtube (September 14)
- Loopring Listing on Coinbase Pro (September 14)
- Lamden Mainnet Launch (September 16)
- Bitcoin 2 Halving (September 18)
- Ardor Hard Fork (September 22)
At the start of the week, the focus is initially on the First Mover. At the beginning of last week there were indications of an increasing correlation to the S&P 500. However, this was subsequently not confirmed. In addition to the tug-of-war at the magic threshold, it remains to be seen whether the Binance Coin will be able to build on the outstanding performance of the past few days. In any case, excitement is guaranteed!