Navigating the volatility of the crypto market is a skill that comes with experience. Such experience can be found among seasoned investors who have honed their skills and can spot a gem in the dirt.
While Sparklo might be dirt when compared to Binance Coin (BNB), investors believe the token has what it takes to hold its own in the bull run. As a result, investors are queuing to get their share of the presale token.
Binance Coin (BNB) Recent Burn Fails at Providing a Rally
Binance Coin (BNB) is the native token of the Binance exchange, the world’s largest. The exchange’s crypto influence means its native token would be one of the largest in the world, ranking 4th, only behind Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Binance Coin’s (BNB) utility is tied to its being a trading tool on the exchange and being accepted as a payment option by large corporations.
A notable event that happened with the token in the previous week was the disposal of part of its supply. The exchange completed its 23rd quarterly Binance Coin (BNB) burn, which should play a great part in its bullish run. The total amount of burned Binance Coin (BNB) was over 2 million, worth over $676 million based on its value then.
However, the Binance Coin (BNB) is yet to have an upward trend, even with the total supply burn, as the token currently trades at $316 at the time of writing. Instead of a pump, the token has rather taken a downtrend, down 2.3% in the last 7 days and 2.6% in the past 24 hours at the time of writing.
It leaves room to wonder if such an event couldn’t positively affect the price, what would? With options available to investors, they are particularly interested in the presale token, Sparklo.
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Author: Crypto Daily
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