Cryptocurrencies grow on Binance Chain launch

April 22, 2019   Bitcoin

The major virtual currencies on Monday are moderately going up on the reports that the world's largest digital trading platform Binance has launched its blockchain platform Binance Chain. On it, startups will be able to issue their own digital currencies, as well as conduct ICO. Binance Chain is a public blockchain network that will support BNB tokens. The exchange will soon integrate its decentralized trading platform into the Binance Chain. Meanwhile, Binance will allow projects to release new tokens within the ecosystem, which actually means being able to conduct ICOs, attracting BNB tokens.

If you look back at the monthly period, you can observe that over the previous thirty days, the Bitcoin price has risen by 31.3% against the dollar, while the overall  crypto market capitalization has grown by $ 40 billion. Bitcoin passed 123 days without retesting the minimum, which can be considered a step in side of the rally in the coming months.

The impressive performance of altcoins, including Enjin Coin and Binance Coin, which showed an increase of 404% and 266% since the beginning of the year, respectively, increased the overall momentum of the cryptographic market. For the first time since May 2015, a technical indicator called the convergence and divergence of moving averages (MACD) indicates a positive trend for Bitcoin. The decentralized Binance Exchange will not provide custody services to users of tokens.

On this news, the rate of Bitcoin, according to Libertex, at 9.30 per day rose by 0.47% - up to 5285 dollars with a capitalization of 93.6 billion dollars. Ethereum by this time fell slightly - by 0.12% - to 170.4 dollars with a capitalization of 17.9 billion dollars. His reduction was promoted by the fear that Binance Chain would be able to entice the users of the Ethereum network to itself. XRP for the day added to the price of 2.16% and rose to $ 0.324 with a capitalization of $ 13.7 billion. LItecoin has strengthened by 0.92% - to 76.2 dollars, its capitalization amounted to 4.7 billion dollars.

The overall crypto market capitalization of the  has reached $ 177.6 billion. According to financial scouts, cryptocurrencies in the nearest future to come may add a few more in price. Thus, Bitcoin can rise in price to $ 5,300, Ethereum - to adjust to the top and rise to $ 171, XRP - to strengthen to $ 0.33, and Litecoin - to $ 77.

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