While most of the top cryptocurrencies are going down in value, there are always exceptions in place. The Binance Coin price is in the green as of right now, primarily because it is growing by leaps and bounds over Bitcoin and Ethereum. A very peculiar trend which may signal similar trends to emerge across other altcoins.
Binance Coin Price is on the Move
It is rather uncommon for altcoins to rise in value when Bitcoin and Ethereum are not doing all too well. Even so, the Binance Coin token shows this can be achieved with little to no problems. A strong push in both BTC and ETH segments has effectively pushed the USD value of this native exchange token to a new level. Because of this small jump, one BNB is now worth just over $10 again.
Given Binance’s position in the world of cryptocurrency trading, it is not entirely surprising to see its native token surge in value. Numerous other exchanges are looking to do the exact same, although their token’s popularity is not exactly on the same level by any means. It will be interesting to see how this race in terms of exchange tokens will unfold moving forward.
Some interesting developments are happening behind the scenes. Although their impact on the BNB token value may be minimal, it does show parent company Binance is still surging ahead and tapping into different markets. The investment in TravelByBit to integrate BNB support is a very peculiar decision. At the same time, it will be a welcome development for holders of this token.
Maybe @cz_binance is just sick of needing to change money every time he wants to hit the airport bar during a stopover?#Binance invests AU$3.5m in @TravelByBit to add #BNB, more airport #cryptocurrency payments terminals around the world https://t.co/r7xnoe9O6H
— Crypto Finder (@cryptofindertv) October 3, 2018
Traders who bought BNB in the past few days will be quite happy with the way things are going. Especially the gain in BNB/BTC ratio has been very interesting to take note of, and the best may have yet to come. At the same time, BNB is noting its strongest gains over Ethereum first and foremost, thus the big profits can be found in that direction.
— iWillTeachuCrypto (@illteachucrypto) October 3, 2018
It also seems a lot of people consider Binance Coin to be one of the top five altcoins to keep an eye on. According to Damon Alfonso, it is evident BNB is in a rather interesting list. Although not everyone may agree on the four other currencies and asset son that list, one cannot deny BNB is a very interesting currency to keep tabs on. It showcases the validity of exchange-issued tokens, even during the bearish year 2018 has turned out to be.
— DAMON.VANITY CARE (@damon_alfonso) October 3, 2018
With this healthy trading volume in place, and the gains over Bitcoin and Ethereum, things look very promising for the BNB price. That doesn’t mean there won’t be a correction in the future, but for now, it seems the only way is up. Whether or not bigger gains will materialize throughout the day, is a different matter altogether.