Price Action
Since last week, Binance Coin’s price went up by 17.44%. It is above its 20 day moving average by 26.45%, so it’s very far away. Binance Coin’s bullish momentum, determined by its distance from its 20 day moving average, is well above average relative to its peers, and thus may be a sign the market for the coin is overheating and due to correct downwards. Now when considering volatility, Binance Coin is more prone to sizable price moves than 92% of coins in our index, so bear that in mind if you decide to trade it. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Binance Coin in US dollars is expected to be between $16.45561 and $38.28539.
Where to trade Binancecoin (symbol: BNB): Gate, Yobit, Binance, DDEX
Volume Update
Over the past week, Binance Coin saw its daily volume range between 2,314,988 and 13,055,628 units of its own currency. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. Binance Coin experienced a turnover rate of about 4.54% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 69.7% of the coins we’re tracking, so it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
Binance Coin saw the number of wallets holding its coin go from 316,600 to 317,331 over the past week — a change of 0.23%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 820,559 to 863,644, which translates to growth of 5.25% for the week. Binance Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 5.48% which puts it ahead of 80.56% of the coins in our index. This could indicate that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
Binance Coin currently has 18 public repositories on GitHub, with the oldest one now 270 days young. The last recorded update to its public repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Binance Coin’s repos that are visible to the public collectively have 230 watchers — that’s more than only 29 % of the 100 similar coins in our index. The coin has 38 outstanding issues in the backlog awaiting to be addressed by the core development team. Relative to the number of watchers it has, though, its open issues count is a bit below average, and thus potentially concerning. We view the ratio of open issues on Binance Coin’s GitHub repos relative to the number of developers who follow its repos as a way to quantitatively assess the health of a coin’s software development processes, and for Binance Coin we see that it fares better than only 36% of the coins we group Binance Coin in.
Binance Coin News and Commentary
Over the past week, we found 2 links about Binance Coin that we found especially interesting. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.
Binance BNB Competition Award – Crypto News
OpenWeb Token swap feature is now supported by BlockChin
Where to Buy
You can trade Binancecoin, listed under the symbol BNB, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
