Tesla CEO Elon Musk and the Twitter takeover have kept the cryptocurrency market busy this week. Musk’s move and expectations that the role of cryptocurrencies in Twitter will increase have caused certain altcoins to experience an increase. Alongside DOGE, BNB hit all-time highs against Bitcoin. Here are the details…
BNB sets new record against BTC
The data showed that BNB/BTC briefly climbed above 0.15 BTC on October 30. BNB spiked to 0.15267 BTC for a while. Binance’s in-house token, BNB, the largest crypto exchange by volume, has gained nearly 10 percent in the past 72 hours. The strong performance came after reports that Binance is preparing to assist Twitter in eliminating bots. cryptocoin.com As we reported, Binance contributed as much as $500 million to Musk’s takeover of the social media platform.
In addition, Binance CEO showed support for Elon Musk’s “bird is free now” tweets for Twitter acquisition. Meanwhile, in US dollar terms, BNB performed its best since mid-August. It hit three-month highs at $318.80 for the day. Musk was also responsible for the high performance of another popular cryptocurrency, Dogecoin, in recent days. Notably, Musk’s Twitter-related actions came to the fore. This has had an incredible impact on DOGE price action. Thus, DOGE/USD reached its highest levels since April. An increase in use cases is expected for DOGE, which has been Musk’s favorite for a long time.
There are criticisms of price movements
Meanwhile, Tree of Alpha, a popular analyst, suggests that individual traders will be “at work” with the help of both the Twitter and Binance ecosystems. He expressed his fear that Launchpads would become popular again. He expressed his concern that investors would again quickly purchase unknown tokens on BSC.
Analytical account Stockmoney Lizards meanwhile noted the uncanny similarities in DOGE price action and the relative strength index (RSI) that have been repeated this year. “Dogecoin is copying itself,” the analyst summed up.
With Elon Musk investment, most DOGE users are in profit
Tesla CEO and billionaire Elon Musk’s acquisition of Twitter made 62 percent of Dogecoin investors profit. According to data from IntoTheBlock, this means that as many as 62% of DOGE owners are making money at the current price. According to CoinGecko, the events have caused DOGE to surpass smart contract platforms Cardano and Solana. It triggered DOGE to become the 8th largest cryptocurrency with a market cap of $16.3 billion.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.