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Binance Coin Now Backs Swiss ETP on SIX Stock Exchange with BNB Price Showing Modest Rise

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    BNB is becoming more popular in the space as the Swiss stock exchange SIX partners with the world’s largest crypto exchange to launch a BNB-based derivative

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Along with recently launched Bitcoin futures on Binance, Bitcoin-based and Ripple-based coins on Binance DEX, and the start of Binance US platform, the exchange led by CZ now integrates its native coin into the crypto derivatives’ sphere.

 

Binance Coin now backs a Swiss ETP

As per CoinDesk, the Binance platform has partnered with the Swiss stock exchange SIX and a fintech startup Amun AG to launch an exchange-traded product (ETP) (ABNB) backed by $20 mln worth of BNB.

On this positive news, the Binance coin price on CoinMarketCap has begun spiking. The coin is showing +4.35 percent at the time of writing.

BNB price rises
Image via CoinMarketCap

Previously, Amun AG in collaboration with the SIX exchange already launched several other crypto-related ETPs – based on XRP (AXRP), Ethereum (AETH), Bitcoin (ABTC), as well as the Crypto Basket Index ETP (HODL).

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Recent milestones of BNB

Binance Coin has become quite a popular asset by now, thanks to CZ’s efforts to give it additional liquidity by various methods – use it on Binance LaunchPad to power IEOs, by partnering with payment startups that deal with crypto, by providing charity payments in BNB to Japan (in summer 2018) and Uganda schools (2019).

Besides, Binance conducts regular BNB burns to prevent the coin from losing value.

Recently, U.Today reported that BNB, along with Bitcoin and several major stablecoins was added to the new Galaxy S10 smartphone wallet released by Samsung.

What is your opinion on the current Binance expansion and new use-cases for its native coin BNB? Share your view in the comments section 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

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    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’

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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.

Subscribe to News.U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

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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