Thursday, September 29

This is why Binance Coin is down 33% from its all-time high By Cointelegraph


©Reuters. This is why Binance Coin is down 33% from its all-time high

(BNB) holders enjoyed a 1,760% rally from $37 to $692 between January and May 2021, but as usual for cryptocurrencies, this rally was followed by a 69% correction two weeks later.

From there, it has been a bit difficult to regain investor confidence and BNB failed to produce another all-time high in November, despite the aggregate cryptocurrency market capitalization hitting a high of $3 trillion.

BNB/USDT pair chart. Source: TradingViewIn addition to being 33% below its all-time high, BNB investors have other reasons to question whether the current price of $465 is sustainable. Especially since traders were recently paying up to 3% weekly to keep short futures positions open, betting on the downside.

Read the full article on Cointelegraph

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



es.investing.com