Binance Coin Reached ATH
The Binance Coin (BNB) rose significantly in its price in the last 48 hours. In fact, the price soared so high that BNB reached a new ATH at $27.84. Thus, BNB is the first coin in the top 25 of coinmarketcap to reach a new ATH after 2017. However, the price fell along with Bitcoin and the whole Altcoin market in the following. As a consequence of the hack, Binance has closed its exchange for some time to upgrade its system. The exchange has now mostly concluded this upgrade.
Collateral Stablecoins – An Alternative to Fiat Stablecoins
Stablecoins that are backed with fiat money have many disadvantages. First of all, they are highly centralized. Thus, they require a lot of trust as Tether and Bitfinex have proven for a long time now. Ultimately, they defeat the purpose for which Satoshi Nakamoto created Bitcoin. However, the need for stablecoins is obvious in practice as many traders use stablecoins to escape risky market situations. Therefore, entrepreneurs came up with the concept of collateral stablecoins. How does this new concept work?
Bitcoin Prices Continue To Soar, Increase To Persist
Lately, Bitcoin seems to be on a continued rally to get its price over the $8,000 mark. The Cryptocurrency’s price has been increasing steadily, climbing past the $4,000, $5,000, $6,000 and $7,000 mark. At 21:30 UTC on Monday, Bitcoin’s prices increased to as much as $8,195 on Coinbase, which is a 17.4% increase, equivalent to $1214, on the day’s trading session. According to CoinMarketCap data, as at the time of writing, Bitcoin worth $34 billion has been traded within the last 24 hours. At the same time Messari data reveals that the 10 exchanges identified as reporting actual volumes by Bitwise Asset Management have seen trades worth 2.9 billion.