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Binance Coin (BNB) Price Surges 7 Percent, After Binance Sees Significant P2P Bitcoin Trading Volumes

  • Yuri Molchan
    📰 News

    BNB price spikes over 7 percent five hours after Binance announces P2P trading for BTC, ETH, USDT against yuan, seeing significant trading volumes

Binance Coin (BNB) Price Surges 7 Percent, After Binance Sees Significant P2P Bitcoin Trading Volumes
Cover image via news.u.today

Earlier today, Binance announced the start of peer-to-peer trading of Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) against the Chinese yuan in its blog.

Initially, the access to P2P trading was given to users of the Android-based Binance app of 1.12.1 version, whose accounts on Binance were set up for more than a month ago.

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Now, CZ of Binance tweets that the team has seen significant P2P trading volumes on the first two biggest coins and the USDT stablecoin. Due to this fact, the price of BNB has surged over 7 percent.

BNB
Image by Coinmarketcap

The Binance team promises to gradually roll out the service on iOS-based Binance app later on.

Do you 'hodl' Binance Coin or use it for trading? Feel free to share with us in the comment below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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