Here’s how Binance Coin (BNB) price could gain 20% in October

Here’s how Binance Coin (BNB) price could gain 20% in October
фото показано с : invezz.com

2020-9-30 17:06

Binance Coin (BNB) price is trending around 8% higher on the week, enough to comfortably trade above the intraweekly resistance around the $27 mark.

Fundamental analysis: Binance launches Venus

Binance, a major crypto exchange, launched Venus – a new “decentralized” stablecoin system. The crypto exchange developed the new stablecoin on the Binance Smart Chain and plans to mint the decentralized stablecoin called VAI, supported by several BEP-20 tokens. 

The new stablecoin protocol can be viewed as a combination of MakerDAO and Compound, said Binance Chief Executive Changpeng “CZ” Zhao.

“VAI is minted by the same collateral that is supplied to the protocol. Users can borrow up to 50% of the remaining collateral value they have on the protocol from their vTokens to mint VAI,” said the crypto exchange. “The collateral provided to Venus will be represented by vTokens (such as vBTC) which will enable users to redeem the underlying collateral as well as to borrow against it.”

With Venus, the users will be in the position to stake their Binance coin (BNB), Binance stablecoin (BUSD), and Swipe (SXP) tokens into individual pools to accumulate Venus (XVS) tokens, starting from Tuesday. The exchange then plans to list XVS into the Innovation Zone on October 6 and make XVS/BTC, XVS/BNB, XVS/BUSD, and XVS/USDT pairs available for trading.

The Venus system is built by Swipe Wallet, which the exchange bought earlier in 2020 for an unknown amount. Binance pointed out that the protocol eliminates “current pain-points” of Ethereum, including network congestion and high transaction costs since it’s developed on the Binance Smart Chain.

The leading crypto exchange first spoke about Venus last August. At that time, Binance referred to Venus as a “regional version of Libra.” 

Technical analysis: Resistance broken

BNB/USD is trading nearly 5% on the day to total weekly gains to over 7%. Today’s move higher has helped the digital asset to trade above the resistance block between $26 – $27. A return to this area would provide a solid opportunity to invest in BNB.

A close above this area would automatically transform it into the support zone. The intraweekly resistance is located at $29, while the key monthly area of interest is around the $34 handle, which hosts a 1-year high set two weeks ago.

Summary

Digital currency exchange Binance has rolled out a new “decentralized” stablecoin protocol called Venus, to which Binance CEO Changpeng Zhao refers to as a mixture of MakerDAO and Compound. In the meantime, BNB pushed cleared resistance around $26 – $27.

The post Here’s how Binance Coin (BNB) price could gain 20% in October appeared first on Invezz.

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Binance Coin (BNB) на Currencies.ru

$ 649.12 (+0.83%)
Объем 24H $1.122b
Изменеия 24h: -2.30 %, 7d: -9.83 %
Cегодня L: $640.53 - H: $651.86
Капитализация $93.479b Rank 5
Цена в час новости $ 28.49 (2178.41%)

binance venus price bnb around coin launches

binance venus → Результатов: 46


Биржа Binance представила свой DeFi-проект Venus Protocol

Криптовалютная биржа Binance представила проект под названием Venus Protocol. Venus представляет собой децентрализованную систему кредитования, которая работает на блокчейне Binance Smart Chain. Пользователи могут использовать обеспечение для заимствования других активов и для создания синтетических стейблкоинов.

2020-9-29 20:13


Биржа Binance представила свой DeFi-проект Venus Protocol

Криптовалютная биржа Binance представила проект под названием Venus Protocol. Venus представляет собой децентрализованную систему кредитования, которая работает на блокчейне Binance Smart Chain. Пользователи могут использовать обеспечение для заимствования других активов и для создания синтетических стейблкоинов.

2020-9-29 16:52


Binance и Финмэн запустят альтернативы криптовалюте Libra. Facebook сталкивается с рядом вызовов

Криптобиржа Binance, которая в настоящее время занимает первое место в мире по сделкам купли-продаж криптовалют в мире, с показателем в 973,5 миллиона долларов в сутки, представила на суд общественности идею о собственном проекте под названием Venus.

2019-8-20 11:25


Binance Jumps into the Astrological Waters of Stablecoin With its New Project Dubbed “Venus”

Binance, the world's largest cryptocurrency exchange has announced a new project dubbed “Venus” that will develop digital assets pegged to fiat currencies around the world aka stablecoins. This stablecoin initiative of the exchange will see the firm utilizing its proprietary Binance Chain network— that uses “distributed proof of stake” consensus model” — and international payment […]

2019-8-19 16:19


Binance to launch a blockchain for fiat-backed stablecoins, but who even cares?

Cryptocurrency exchange Binance has been announced launch of a new blockchain and it’s called project “Venus. ” I’m not sure why it chose that name because Venus has no moons. Sad. In an announcement published this morning, Binance described Venus as an “initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe.

2019-8-19 15:16


Binance создаёт аналог стейблкоина Libra

Ведущая в мире биржа криптовалют Binance объявила о своих планах по запуску «региональной версии» Libra под названием Venus. Согласно официальному заявлению, основная идея криптовалюты заключается в том, чтобы бороться с существующей финансовой гегемонией, используя преимущества устоявшейся позиции компании как лидера в области криптовалюты.

2019-8-19 13:14