Category - Altcoin News

Binance Coin (BNB) price hits new record

Binance Coin (BNB) is outrunning the competition. The third-largest cryptocurrency by market capitalization gained 70 percent in value within the last seven days alone and currently stands at a price of around 590 US dollars. In terms of market capitalization, the proof-of-stake coin is slowly but surely becoming dangerous even to its competitor Ethereum (ETH). After all, the market currently values BNB at a reasonable 91 billion USD. ETH, however, still has a market capitalization that is almost three times as high at USD 248 billion.

In the annual chart, the performance of BNB is no less impressive. The coin, which forms the core of the Binance Smart Chain, has gained a whopping 1,464 percent since the beginning of 2021. That is record-breaking. In the crypto top 10, BNB is the absolute top performer and even beats Bitcoin (BTC) by a long way.

The reasons for the ongoing bull run can be quickly identified. With a volume of 36 billion USD, Binance is still by far the most liquid Bitcoin exchange on the planet. By comparison, Coinbase, in second place, “only,” has a normalized volume of USD 2 billion. So anyone who wants to participate in the highs of the exchanges without having to buy securities such as the soon to be issued Coinbase shares has done well with BNB so far.

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Coinbase Pro lists Cardano as part of the expansion of its crypto offering

San Francisco-based leading crypto exchange, Coinbase Pro, has added support for Cardano (ADA). Coinbase announced the news through a blog post on March 16, noting that it has begun accepting incoming transfers from ADA to Coinbase Pro. The company went on to say that ADA trading is scheduled to begin on March 18 at 4:00 PM UTC, provided the coin receives sufficient liquidity.

According to the blog post, users can trade ADA for four pairs using the Coinbase Pro platform. These are ADA/USD, ADA/BTC, ADA/EUR, and ADA/GBP. However, the coin must first accumulate ample supply on the platform. Like other Coinbase listings, ADA trading will go live after three stages. These are post-only, limit-only, and full trading.

The publication added that if any of the above order books fail the exchange’s assessment of a properly functioning market, it will remain in the same stage for an extended period of time. Coinbase added that it could suspend trading on the order book altogether, based on its trading rules.

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