The crypto news today show that despite the dip yesterday, some cryptocurrencies are making a leap forward and surging. One of them is the altcoin Binance Coin (BNB) which has been in a strong momentum lately and managed to surge by more than 16% overnight.
BNB has recorded a quick 16% surge against the US dollar, rising to $13.05 and proving its bullish momentum. Over the past few days, BNB has been increasing. According to one cryptocurrency trader known as ‘Satoshi MBA’ the strength of tokens and small market cap cryptocurrencies are here to show the bullish trend of Bitcoin.
If we look historically, most of the tokens and small market cap cryptocurrencies tended to record intensified losses in the direction headed by BTC. However, every time Bitcoin records a minor loss, tokens tend to record intensified losses against the USD. Alternatively, when the dominant cryptocurrency surges, they demonstrate large gains on the upside.
Over the past 24 hours, Bitcoin recorded a minor drop of around 2% – which did not stop a handful of tokens including BNB to record gains in the 10% to 20% range.
This has put BNB as the eight most valuable cryptocurrency in the global market, overtaking Stellar and TRON and rising to new highs. In only 7 days, the price of BNB surged from $9.5 to $13.4 – recording a growth of more than 41% against both Bitcoin and the USD.
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