Binance Coin Starts Surging After BNB Burn And IEO Rumors: Report

The Binance coin starts surging earlier today following the latest BNB burn and IEO rumors as the weekend turned out to be a boring one for the entire crypto market, with Bitcoin hovering over $9,150 as we are reading in the latest Binance coin news.

However, the price fluctuations within the altcoin market did attract some attention with many double-digit gainers led by Swipe, which is a Binance-acquisition. After the recent Twitter hack earlier this week, the situation around the social media giant still unfolds and the FBI initiated the extensive investigation showing that the cybersecurity agency from India, Computer Emergency Response Team, sent an official notice to Twitter to request full details for the hack. The social network revealed that eight people had their personal access data stolen but didn’t disclose their names. While Twitter received a huge image blog, Bitcoin’s involvement has no impact on the number one cryptocurrency.

The asset price continued trading in its comfortable price territory and apart from the sharp increase of $9,120 to $9,220 yesterday, the rest of the weekend was quiet for Bitcoin. It seems that the $9,100 support line endured the pressure from the bears and if broken, Bitcoin could rely on the psychological level of $9000 but if another upward tick comes, Bitcoin has to take down the $9300 level. In the meantime, the most alternative coins record massive price fluctuations and today’s leader is Swipe. The Visa debit card platform acquired by the major crypto exchange Binance continued the weekend surge by another 32% and hit $1.30.

Its market cap grew to $80 million and set foot inside the 100 projects by market cap. The 25% surge from Nimiq is next in line while Kava and Aave follow similar price increases. The Binance coin starts surging after the 12^th Binance coin burn yesterday which the company described as the “biggest ever recorded” where 3,477,388 BNB is gone forever. In terms of USD value, a significant amount surpassed $60 million.

BNB’s price didn’t react right away to the events of yesterday but it sure did today. In just two hours, BNB went from below $17 to $17.8 but another boost for the price can be the upcoming Binance IEO on the Launchpad platform. Most of the other larger-cap altcoins followed Bitcoin’s example with the lack of sharp moves While Ripple and Chainlink increased 1%. Cardano increased by 2.5 percent which makes ADA the most impressive gainer in the top 10 altcoins.