Markets
BNB price reaches $700
Binance crypto price, Binance Coin (BNB) recently reached $700, bringing the market cap to over $100 billion. Binance Coin (BNB) is therefore on the verge of a significant breakout, driven by increased market volatility.
Let’s see all the details below.
Binance Crypto (BNB) Price Reaches New Highs, Indicating Potential Breakout
As predicted, the price of BNB rose by more than 10%, reaching 710 dollars and raising its market value to more than 100 billion dollars.
In recent days, the cryptocurrency market has shown signs of vivacity, with Binance Coin (BNB) leading the way. In the last 24 hours, BNB has increased by more than 10%, reaching 700 dollars.
This once again pushed its market value past the $100 billion threshold, a level not seen since early December 2021.
After bullish action in the first two months, the Binance token went through a consolidation phase, oscillating between $568 and $635. During this period, the altcoin showed significant price volatility, as evidenced by its chart.
Currently, BNB price is close to testing a critical resistance level and the outcome of this test remains uncertain.
The 50-day exponential moving average (EMA) provided consistent support on the daily price chart, suggesting a positive outlook by Binance Coin price in the near future.
If the bullish momentum continues, the Binance token is expected to test the $635 resistance level. If the price manages to surpass this level, BNB could reach its all-time high of $690.9.
However, if the market reverses the trend, BNB price could lose its bullish momentum and fall towards the crucial support level of $568 in the coming weeks.
Binance Announces New Trading Pairs and Launch of “Learn and Earn” Program
Binance, one of the leading cryptocurrency exchanges, announced the addition of new trading pairs to your platform. From June 5th, the exchange will open trading for HIGH/TRY, PEOPLE/FDUSD and TNSR/USDC pairs.
Along with the new trading pairs, Binance will also allow Trading Robots services for these peers.
These bots are designed to automate negotiation strategies, allowing users to execute trades based on predefined rules, particularly useful in volatile markets.
This improvement aims to provide Binance users with more sophisticated tools to manage their trading activities. Binance offers zero maker fees on FDUSD trading pairs until further notice.
Additionally, users will be able to benefit from discounted taker fees on all USDC spot and margin trading pairs, both existing and new. These promotions are part of Binance’s ongoing efforts to make trading more convenient for your users.
Binance also announced the launch of the next round of its “Learn and Earn” program, which will take place from June 4 to 18, 2024.
During this period, KYC verified users will have the opportunity to earn rewards in cryptocurrencies by completing educational courses and quizzes. To participate, users must ensure their Binance accounts are KYC verified.
Once verified, they can read articles, watch videos and take quizzes to earn rewards while supplies last.
Each course can be completed only once and users can earn a maximum of one reward for each completed course.