With the cryptocurrency market being bearish for most of the currencies, Binance Coin has experienced a surge in its price. Currently trading at $8.25, BNB experienced an upward move by 16.83%, being at its highest since November. While majority of the coins are in the red zone, BNB is one out of the few that is flashing green.
In comparison to BNB coin, Ethereum, Bitcoin, Ripple and Litecoin have been under pressure. BNB has reached a market cap of $1 billion and is just about 400 million behind from Stellar. Cardano ranked at the 12th place moving downwards from the 5th place on the charts. Similarly, Bitcoin SV too experienced a fall since November and is trading at below $60 BSV, failing to remain in the top ten.
Binance Launchpad Project
The price surge of BNB coin was a direct result of the Launchpad project of Binance, Fetch.AI. Binance has experienced this usurp following the successful sale of the BitTorrent token on the launchpad platform. The Fetch.AI project attempts to merge machine learning, artificial intelligence, decentralized ledger technology and multi-agent systems to create an economic internet. The link shared in the twitter post read,
“Fetch.AI (“Fetch” or “the Project”) brings together machine learning (“ML”), artificial intelligence (“AI”), multi-agent systems and decentralized ledger technology to create an economic internet — an environment where digital representatives of the economy’s moving parts (such as data, hardware, services, people and infrastructure) can get useful work done through effective introductions and predictions.”
— Binance (@binance) February 6, 2019
The Fetch.AI project had its private and public sale from April to July 2018 and raised 24,596.5 ETH with about 86% converted to fiat currency. With this project launch, Binance is the only exchange to provide tangible pump events. It is successfully trading above the $6.50 and $7.00 resistance levels and may cross the $8.00 resistance level.