If the crypto markets bottom out, volumes will pick up. Let’s look at the charts, and see where major coins are heading in the short term.
Binance Coin News
Binance Сoin (BNB) is a cryptocurrency designed by the eponymous cryptocurrency exchange. Based on the ERC-20 standard, Binance Coin was established with the Ethereum technologies. The Binance Coin market cap is one of the largest on the market and the largest among the ERC-based tokens with over 1,3 billion dollars at the time of writing this article. BNB was developed to become a trading tool on the Binance cryptocurrency exchange. BNB-based transactions are subsidized by the exchange making the coin more attractive to use within it. Due to the large trading volume of Binance and its effective strategy on the new asset, Binance Coin was fast to become a major part of the industry. BNB price is supported by the large number of businesses accepting the coin as a form of payment.
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Another multi-million dollar token sale that sold out in minutes on Binance Launchpad shows that appetite for new coins with strong use cases is returning.
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Ethereum’s Joseph Lubin predicted this week that blockchain will make up more of the global economy in the coming decades.
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Some experts are predicting another Bitcoin rally in August once fundamentals have improved.
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Numerous companies have been moving ahead with blockchain and crypto projects, showing interest from traditional players.
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Industry experts are forecasting wider adoption of cryptocurrencies and the emergence of another bull market.
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While the current fall could dampen sentiment, the overall structure of major cryptocurrencies remains unchanged.
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Crypto companies are continuing to onboard talent from traditional industries, while crypto market fundamentals improve.
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Institutional investors are using low valuations — a product of the extended bear market — to invest and enter the crypto space.
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While the crypto space has been in a ruthless bear market, banks and exchanges have started launching crypto services.
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Major cryptocurrencies have begun to display gains on a weekly basis, confirming that the recovery is picking up steam.
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Institutional investors are getting more involved in the crypto space as fundamentals are improving.
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Elon Musk recently stated that Bitcoin is a better transfer of value than paper money. On the week, the coin is up by almost 10 percent.
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While markets are currently staging a recovery attempt, some analysts feel negative sentiment will drive prices lower still.
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Some experts predict the downfall of tokens with no clear use cases, while touting Bitcoin as a clear winner in the long run.
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