In what has been a downright stellar 2019 for Binance Coin (BNB), the exchange-based digital asset has gone from strength to strength and has exceeded even the most optimistic predictions this year.
In the past 48-hours, BNB has climbed from $11.00 each, up to as high as $14.50 each — an impressive 32% growth in the midst of the struggling market. Looking further back, we find that BNB is up more than 300% since it began its bull run in December last year, climbing up from just $4.68.
Against Bitcoin (BTC), which has arguably been the strongest coin in the 2019 bear period, BNB has performed surprisingly well, managing to gain more than 50% on BTC since February 26, with no indicating that BNB will slow down any time soon.
Right now, almost all technical indicators point to BNB as a strong buy, with the coin looking likely to hold strong over the next few days. Right now, BNB appears to be trading with an ascending bullish wedge. If it continues its current pace, we may see BNB reach $21 by April 01.
The reasons behind the growth are numerous, with Binance finding itself a hotbed of activity recently thanks to its two recent launchpad success projects, BitTorrent (BTT) and Fetch (FET). Now, with Binance gearing up for its third launchpad token sale later this month, it appears users are already beginning to stockpile BNB in anticipation of the event.
#bnb overtakes @Tether_to to become #7. I don't remember the last time I saw such parabolic chart from high mcap token. I am wondering if some of these features from @binance ico deck like futures and margin trading are still in the pipeline? pic.twitter.com/dNmjC5qICB
— Andrei Cheshko (@andreillc) March 6, 2019
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