Ethereum
$ 1,228.76 5.88%
Solana
$ 41.90 8.45%
Dogecoin
$ 0.068434 4.47%
ApeCoin
$ 4.59 2.92%
Bitcoin
$ 21,420.00 1.65%
BNB
$ 238.76 2.16%

Binance coin is staying stable in the greens with Bitcoin

binance coin bnb price analysis

The important task for any cryptocurrency is not only to perform well, but also to maintain that good performance. So far the best performer cryptocurrency in 2019 was reported to be Binance coin (BNB).

The altcoin has also performed very well However, the BNB supersede every currency. When analyzed in the long term BNB does not show constancy in its performance and is not able to show any resilience in its position.

It showed great performance till April 20, but then suddenly its value declines over eleven percent (11%) against USD, and in comparison to Bitcoin its value decreases by sixteen percent (16%) which is too low.

This sudden decrease in the price is an important matter to be considered as it happens when the Binance was planning to launch some big projects and are working on that.

The launching of the main net is under progress. Binance has already launched some successful projects in the past like Gifto and Block Mason credit Protocol.

In spite of all these projects the Binance is not able to make maximum profit out of them and is not able to maintain a constant high position on the price index for a longer time.

If the status of Bitcoin is analyzed in comparison to the BNB, it was noted that when the price of BNB was depreciating the Bitcoin price increased and it has gained almost six percent (6.3%) increase from its previous value. Bitcoin has the ability to maintain its value higher on the price index for a longer time.

Therefore among all the cryptocurrencies, it widely used and has a strong hold over the crytocurrency market currently holding stable while the Bitcoin is taking new rallies every week.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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