BNB Jumps Again By 17% By Mid-September, Can It Reach $40?

BNB jumps again by 17% making it the only top tier cryptocurrency which returned profits to its investors during the first half of September as we are reading more in the Binance coin news today.

The seventh-biggest cryptocurrency by market cap was about 17%, traded at $29.07 as 1023 GMT while the leading cryptocurrencies such as Bitcoin, XRP, and Ethereum were trading 10-20 percent below zero. Binance Coin jumps again by 17% and it was trading at $34.05 which is an increase of almost 47.04 percent. The cryptocurrency’s upside move came during the growing demand for the Binance chain. The blockchain software system onboarded even more users than its top rival Ethereum which crashed because of its transaction times, fees, and high transaction failures.

Binance coin is the settlement token inside the Binance ecosystem which covers the regulated trading platform as well as its crowdfunding platform on the blockchain. It attracts a lot of users by enabling even more demand for BNB tokens, as one observer commented:

 “The flippening is real, except it’s not with BTC and ETH. It’s with ETH and BNB. No failed transactions, transactions confirm in seconds, basically no fees, BNB is simply providing a far superior trading experience.”

BNB jumps again and carries a long history of stable uptrends will little corrections. The cryptocurrency backs one of the leading crypto conglomerates Binance which leaves no doubt about the utility token. Binance Coin is usually put in an investment-worthy asset while the regulatory and speculative risks associated with the crypto firms, Binance Coin comes with risks of showing weird price behaviors. BNB/USD is standing well above the rest of the cryptocurrencies at least for this year.

bnb price
Chart of BNB’s price action against Bitcoin over the past few weeks with Tom Demark Sequential candle readings and levels from a Telegram channel

The dovish policies announced by central banks across the world allowed investors to go past cash and government bonds to get more yields. BTC still remains the top choice for everyone that wants to invest in crypto as these altcoins serve as an alternative for people with high-risk appetites. This is one of the reasons why BNB outperformed BTC as the BNB/USD stands atop 113% at the time of writing. BNB/USD eyes the extended move upward and it is now testing the $32 level. if it manages to hold above the support level so the traders could try and take the price to the $38.95 level.

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