Binance Coin (BNB) saw its 15th burn to date on Friday. According to on-chain data, Binance burned nearly $600 million worth of BNB tokens. Historically, Binance has burned around 20% of the exchange’s profits. But in the last burn, Binance burned much more than 20%, and the exact percentage of the burn remains uncertain. Imagine burning half a billion dollars, wait, don’t imagine. It’s real. #BNB https://t.co/rMFbiufFSG — CZ Binance (@cz_binance) April 16, 2021 BNB fundamentals keep improving Sam Bankman-Fried, CEO of FTX — one of the top cryptocurrency futures exchanges alongside Binance — estimated that Binance possibly generated $1 …

Coinbase (COIN) listing on Nasdaq could eventually boost cryptocurrency adoption and attract droves of institutional investors. However, that is unlikely to happen immediately. In the first few days after the listing, volatility could be high as Wall Street tries to value Coinbase. This could also increase the volatility in cryptocurrencies. Sharp movements in the price of Bitcoin (BTC) could also result in liquidations of leveraged positions in the derivatives market. The massive $27 billion in Bitcoin futures open interest and $8 billion in Ether (ETH) futures open interest indicate that a spike in volatility could chop several traders. PlanB, the …

Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012 and 2016, the strategist called the current price action “tame.’ According to McGlone, Bitcoin is “still in price-discovery mode” and its plateau is still far away. While Bitcoin remains in focus, altcoins have continued to steal the show. Bitcoin’s market dominance, which stood closer to 70% on Jan. 4 has continued to slide even though its price has risen more than …

Binance Coin (BNB), the native cryptocurrency of Binance Chain and top digital asset exchange Binance, is starting to close in on Ether (ETH) in market capitalization. As of Monday, BNB is valued at $87 billion at the price of just under $600. The valuation of Ether is hovering at around $246 billion, which is 2.8 times larger than that of Binance Coin. $BNB volume > $BTC volume. Congrats @Binance @cz_binance pic.twitter.com/vLkdGBnnIt — Joe Grech (@JoeBGrech) April 12, 2021 The technical momentum of BNB has been so strong that it briefly surpassed the volume of the BTC/USDT pair on Binance. This …

Bitcoin (BTC) is back with a vengeance this week as a new day’s trading gets underway with a fresh attack on $60,000. After a weekend in which the largest cryptocurrency avoided a correction, Monday is looking bullish — but what could shape price action in the short term? Cointelegraph presents five factors to keep an eye on for Bitcoin traders as the market inches closer to historic all-time highs. Stocks reflect coronavirus mayhem The macro picture is a tale of two coronavirus moods this week. With the United Kingdom exiting lockdown, sentiment among business leaders has bounced to highs, indicative …

Despite Binance supporters celebrating Binance Coin’s (BNB) chart-topping performance for Q1 2021, concerns are growing regarding the centralization of the Binance ecosystem. On Monday, Messari researcher Ryan Watkins took aim at the centralization of Binance Smart Chain’s validators, stating: “Every cycle people get hoodwinked by the latest centralized solution to all blockchains problems.” “Every cycle influencers pump these narratives so they can dump on naïve retail traders when it’s over.” BSC uses proof-of-staked authority consensus, with its 21 active validators being chosen daily by Binance Chain — a network that is governed by just 11 validators. BSC validators stake BNB. …

2021 has been an impressive year for Binance Coin (BNB), which so far has rallied by more than 900%. One of the primary drivers of BNB's growth was continued congestion on the Ethereum network. As this struggle carried on, Binance Smart Chain (BSC) emerged as an alternative, meeting the rapidly growing decentralized finance (DeFi) sector's demands. As BNB reached a $64 billion market capitalization, it has surpassed traditional banks, including Santander, the Bank of Montreal, and UBS. Meanwhile, some analysts point to the estimated value and impact of Coinbase's upcoming direct listing ($100-billion valuation) as a catalyst for the BNB …

Hong Kong tech company Meitu revealed on April 8 that it had added $10 million worth of Bitcoin (BTC) to its holdings which were purchased at an average rate of $57,000 per coin. After the latest purchase, Meitu’s total cryptocurrency portfolio consists of $49.5 million worth of Bitcoin and $50.5 million worth of Ether (ETH). This acquisition shows that institutional investors are confident that the rally in Bitcoin is still in its early stages. Tom Jessop, Fidelity’s head of the crypto division, believes that Bitcoin has reached a tipping point and that traditional finance companies will continue to adopt cryptocurrency …

Centralized cryptocurrency exchanges (CEX) have received increased attention over the past couple of months as excitement builds over Coinbase's April 14 NASDAQ listing and the exchange's recent announcement that it pulled in $1.8 billion in revenue during the first quarter of 2021. Even as decentralized finance (DeFi) and popular decentralized exchanges (DEX) like Uniswap (UNI) and PancakeSwap (CAKE) attracted investors, high transaction costs and low liquidity on separate blockchain networks means that many crypto traders stick with CEXs for lower trading costs and the sense of security they offer. While Bitcoin, DeFi tokens and a selection of altcoins have garnered …

According to CoinShares, the institutional inflow into crypto products hit $4.5 billion in Q1, which is 11% higher than the intake seen in Q4 2020. This shows that institutional interest is on the rise but the quarter-on-quarter growth has slowed down from the 240% recorded in Q4 2020. As Bitcoin price moves higher, more funds are needed to sustain the levels. Therefore, if institutional inflows do not pick up in the next few days, Bitcoin (BTC) and other altcoins could witness a major correction. The next correction could test the resolve of institutional investors and even though these investors have …

The total crypto market capitalization reached the important milestone of $2 trillion on April 5. As cryptocurrencies increase in value, they are likely to attract further investments from institutional investors because they can no longer afford to neglect it. Less than three months ago, the crypto market had reached the $1 trillion in market cap for the first time ever. This rate of growth shows that investors are hugely bullish on the potential of the sector and the ones who delay their investment decisions may have to enter at much higher levels. Ark Invest founder and CEO Cathie Wood is …

Historical trends act as a gauge for traders to assess the possibilities for the future. April has been a bullish month for Bitcoin (BTC) with eight monthly closes in the green and only two instances of negative returns. Danny Scott, the CEO of the Bitcoin exchange CoinCorner, said that Bitcoin could rally to $83,000 if it emulates its average April return of 51% as it had over the past 10 years. This could be one of the reasons why miners have started holding their positions instead of selling at the current levels. Lex Moskoviski, the CIO at Moskoviski Capital, recently …