NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Changpeng Zhao Makes Super Bullish Case for Binance Coin

Yashu Gola
Yashu Gola
5 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Those who missed the 2019’s Binance Coin (BNB) price rally can still stage profits off the cryptocurrency in 2020, hints its supreme backer Changpeng Zhao.

The Binance exchange CEO theorized a potential positive correlation between BNB and its top rival Bitcoin. He noted that the current upside sentiment in the bitcoin market could increase the number of trades on Binance. And traders use BNB to pay for trading fees, it would overall boost the coin’s demand.

https://twitter.com/cz_binance/status/1215202590193082368

“Only a few coins outran [bitcoin] last year,” tweeted Mr. Zhao. “No guarantees, but the BNB ecosystem will definitely try to [build] faster than [bitcoin] again this year. I will personally continue to shill both.”

The Upside Scenario

Mr. Zhao’s statements came at a time when talks over bitcoin’s role as a safe-haven asset became louder. The benchmark cryptocurrency surged by up to 21 percent – between January 3 and 7 – against the backdrop of escalating tensions between the US and Iran.

The upside sentiment rippled across the entire cryptocurrency market. The BNB-to-dollar exchange rate alone swelled by more than 22 percent to $15.848, becoming one of the best gainers among high-cap coins. BNB also climbed by up to 5 percent against bitcoin within the same timeframe.

bnb, bitcoin, cryptocurrency
BNB outperformed Bitcoin by 1 percent in the dollar-denominated market as the Middle East crisis deepened | Source: TradingView.com, Binance

The difference in the gains between bitcoin and BNB showed that the latter performs better under market-wide bullish conditions. For instance, the BNB price surged 794 percent between December 15, 2018 (the day of bitcoin’s bottom formation) and June 26 (the day it established a year-to-date high of $13,868). Bitcoin’s own gains within the said timeframe were only 343 percent.

Gautam Chhugani of New York-based AllianceBernstein LP further called BNB a cheap buy after praising Binance’s core business model. The analyst noted that the demand for the cryptocurrency will likely go up as long as Binance – as an exchange – is beating its competitors.

“Binance exchange has (some) competitors (easy to Guess) who may not adopt the cleanest tactics to upset the cart,” he added. “BNB is the currency of the ecosystem & could really hurt. Binance is protecting its core business.”

Binance’s BNB A Cheap Buy

Mr. Chhugani further called BNB “outrageously cheap” at its current rates, suggesting that traders should make the best out of the ongoing market’s volatility.

The statement took cues from the BNB’s latest close above a crucial resistance level defined by the yellowed 50-daily moving average in the chart above. As of now, the cryptocurrency is looking to extend its gains towards $23.64.

If Mr. Zhao is right, a bitcoin price rally could just be the recipe for it.

Tweet123Share239ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin news

Bitcoin Stuck In Neutral While Markets Roar — Analyst Explains Why

Bitcoin’s listless tape in the face of roaring macro risk is less a contradiction than a timing problem, argues this...

Jake Simmons 1 hour ago
биткоин

«Большая политическая новость» для Биткоина

В криптосфере политические решения формируют долгосрочные тренды, влияя не только на цену активов, но и на то, как люди осваивают...

daria 2 hours ago
XRP

XRP Goes Head-To-Head With Bitcoin In This Metric As South Korean Market Wakes Up

XRP’s growing momentum has not only intensified price speculations but has also placed it in direct comparison with Bitcoin in...

Scott Matherson 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

ethereum eth ethusd crypto

Altcoins Hit Hard as Week Starts With $1.7 Billion in Crypto Liquidations

James Halver 4 minutes ago
top criptomonede cu potential

Ce proiecte noi din presale pot urca în 2025 printre top criptomonede?

antonio 46 minutes ago
altcoins market news

Τα καλύτερα altcoins για αγορά καθώς το BNB σχεδόν έφτασε τα $1.100 στο ράλι του σαββατοκύριακου

Ιωάννης Ριζόπουλος 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめを探る:クジラ投資家の売買と保有戦略

    ...

    7 minutes ago
  • 新しい仮想通貨のプレセールに大口投資家が流入、ADA・BTC・XRPは過去の話題に

    ...

    26 minutes ago
  • ミームコイン市場が800億ドル目前:今注目すべき買い候補

    ...

    38 minutes ago
  • 2025年の暗号資産バブルで時価総額100億ドルに到達する可能性がある仮想通貨おすすめ5選

    ...

    52 minutes ago
  • イーサリアム...

    3 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.