• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Will Binance US Opening Cause BNB Prices to Plummet?

Martin Young by Martin Young
1 year ago
in Cryptocurrency news
Reading Time: 2min read
Burn
Advertisement

The world’s largest crypto exchange will be opening its US platform across most of the country next week. It has announced the listing of six crypto assets for trading but conspicuously missing from that list is its own Binance Coin.

Binance.US Opens Next Week

Binance stated that its US platform will be open for registration and deposits on Wednesday next week. The announcement came in a blog post yesterday but what was notable was the six initial crypto assets it has allowed.

Prepare for Launch: https://t.co/AZwoBOy3iq User Registration Opens Next Wednesday!@BinanceAmerica will open account registration & begin accepting deposits of BTC, ETH, XRP, BCH, LTC & USDT on Sept 18th, 2019, at 8am ET.

This kicks off our first phase!https://t.co/wfAREA0TYR

— Binance.US ?? (@BinanceUS) September 11, 2019

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Only Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin and Tether will be available for trading which begs the question, why no BNB? Clearly the company would not have omitted its own flagship currency out of choice, so regulatory matters may have influenced the decision.

The announcement went on to state that US customers will be able to register and select their verification level which on September 18. Stringent KYC proceedings will need to be adhered to if users want to cash anything out of the exchange which makes it effectively a digital bank. Binance.US will require users to upload a valid government ID and their Social Security numbers in order to activate their withdrawal limits.

In a blog post last month Binance said that there could be as many as 24 additional crypto assets available in the next phases of the US rollout. There was no time frame given and it added that all would be subject to its Digital Asset Risk Assessment Framework. The more likely scenario is that US regulators will be deciding what tokens the exchange can list and its own one doesn’t appear to be among them.

BNB Falls Out Of Favor

BNB has been one of the crypto darlings of 2019, outperforming nearly all of those around it including the king of crypto itself. From the beginning of the year BNB surged over 500 percent to a giddy height just below $40.

Since then however it has dumped over 50%, crashing back down to $20 where it currently trades. Some are not fearful of the FUD and see this as a good entry point.

$BNB at $20 is a good longterm buy.

I think $100 is well in reach next time we see a large bull cycle….

Temporary fud means nothing and @binance will launch a US solution.

— Cactus (@TheCryptoCactus) September 11, 2019

Whereas others predict further pain for BNB as the selloff accelerates. With the closure of US based accounts on Binance main imminent, there is all likelihood that Americans will begin dumping BNB in preparation for a move to Binance.US – where it is not listed.

BNB update: REKT ?‍♀️ pic.twitter.com/RCtbum1skY

— ??Benjamin ?$BAT? Blunts?? (@SmartContracter) September 12, 2019

Another factor is that many of the obscure altcoins listed on Binance are not available in other jurisdictions due to regulatory pressure making it one of the few markets for them. This of course adds to the selling pressure on altcoins in general, of which BNB is one.

Either way it looks like Americans will be stuck with a very small crypto pot as their lawmakers continue to drag their feet with regards to regulation, and the Binance Coin bears will keep selling.

Image from Shutterstock
Tags: Binance CoinBinance USBNBregulation
TweetShare26
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Related Posts

takaxa

Taraxa’s Steven Pu on the Elephant-in-the-Room Problem With Informal Transactions, and How He Drives the dApps Adoption With Slack-Inspired Go-to-Market

1 day ago
Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

2 days ago
Dash Investment Foundation Considers Buying Tesla and Coinbase IPO Shares

Dash Investment Foundation Considers Buying Tesla and Coinbase IPO Shares

2 days ago
Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

2 days ago
How to Maximize Your Yield Farm Gains

How to Maximize Your Yield Farm Gains

3 days ago
Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

What Will Happen to Oil Production and Distribution in 2021, and How Can You Make a Profit on It

February 28, 2021

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Newsletter Signup


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.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 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.