{"id":373867,"date":"2019-03-07T18:00:40","date_gmt":"2019-03-07T18:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=373867"},"modified":"2024-06-11T21:03:11","modified_gmt":"2024-06-11T21:03:11","slug":"binance-coin-bnb-defying-gravity-after-sovereign-backing","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/binance-coin-bnb-defying-gravity-after-sovereign-backing\/","title":{"rendered":"Binance Coin (BNB) Defying Gravity After Sovereign Backing"},"content":{"rendered":"<ul>\n<li><em>Binance Coin (BNB) price up 54 percent in last week<\/em><\/li>\n<li><em>The government of Argentina is supporting blockchain projects backed by Binance Labs<\/em><\/li>\n<li><em>Participation levels explode in recent days<\/em><\/li>\n<\/ul>\n<p><em>Argentina is interested in blockchain projects and an accelerator program in conjunction with Binance Labs. They shall invest $50 in 10 different projects in the next four years. That is the confidence we need, and as Binance Coin (BNB) edge higher, there is an opportunity for traders to benefit from the recent uptick in demand.<\/em><\/p>\n<h2>Binance Coin (BNB) Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>On fiscal matters, Argentinians don\u2019t trust their government. However, there is little room for blame. That should be laid squarely on the government\u2019s shoulder. After several policy blunders that effectively wiped life savings pushing the country into an economic depression between 1998 and 2002, many prefer alternative forms of money. The Peso is plunging, and with a $50 billion lending arrangement with the IMF, the economy is on crutches.<\/p>\n<p>Therefore, it is exciting <a href=\"https:\/\/www.binance.com\/en\/blog\/309988869718880256\/Binance-Labs-BUIDLing-Argentinas-Crypto-Future\" rel=\"nofollow\">news<\/a> that in every Argentinean blockchain project that Binance Lab funds, the government through the Founder\u2019s Fund and the Ministry of Labor, will sink $50,000 in grants. It is precisely what the community wanted and even a good sign of what is to come.<\/p>\n<p>Perhaps, it\u2019s a reliable indicator showing a rapid shift of trend where governments instead of swimming against the tide or rolling their sovereign backed asset like the already flopping Petro, are realigning with the general public and embracing the powers presented by public blockchains like Bitcoin. The $50k may give them a significant stake and make them money, but it is their endorsement that interests the crypto verse.<\/p>\n<h3>Candlestick Arrangements<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-373868\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/03\/Binance-Coin-Daily-Chart-Mar-7.png?resize=1280%2C1024\" alt=\"Binance Coin\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/03\/Binance-Coin-Daily-Chart-Mar-7.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/03\/Binance-Coin-Daily-Chart-Mar-7.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/03\/Binance-Coin-Daily-Chart-Mar-7.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/03\/Binance-Coin-Daily-Chart-Mar-7.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/03\/Binance-Coin-Daily-Chart-Mar-7.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/03\/Binance-Coin-Daily-Chart-Mar-7.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Coupled with other factors as Binance Launchpad and Binance DEX, Binance Coin (BNB) is pumping. To quantify, the coin is up the rankings displacing TRX and XLM as it registers 10.4 percent in the last day and 53.4 percent from last week\u2019s close.<\/p>\n<p>If anything, this is overwhelmingly bullish, and we expect prices to edge higher as demand builds. From a technical perspective, BNB is trading within a bullish breakout pattern. Because of higher highs of Mar 5, the path of least resistance is crystal: Northwards.<\/p>\n<p>Bouncing off the 78.6 percent Fibonacci retracement mark on the coin\u2019s all-time high low, recent higher highs seems to be like the release of a pent-up force. As a result, every dip (between $12.4 and $14) should be a buying opportunity, and the first target will be at $20 and later $26 as mentioned in our last <a href=\"https:\/\/wncen.com\/2019\/02\/20\/a-successful-binance-dex-mainnet-could-see-binance-coin-bnb-prices-double\/\" target=\"_blank\" rel=\"noopener noreferrer \">BNB\/USD price analysis<\/a>.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>In a breakout pattern, Mar 5 bull bar is significant. It has high volumes. And while we expect a retracement back to $12.4-$14 zones, any surge in participation levels could reinvigorate price action cementing our bullish outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance Coin (BNB) price up 54 percent in last week The government of Argentina is supporting blockchain projects backed by Binance Labs Participation levels explode in recent days Argentina is interested in blockchain projects and an accelerator program in conjunction with Binance Labs. They shall invest $50 in 10 different projects in the next four years. That is the confidence we need, and as Binance Coin (BNB) edge higher, there is an opportunity for traders to benefit from the recent uptick in demand. Binance Coin (BNB) Price Analysis Fundamentals On fiscal matters, Argentinians don\u2019t trust their government. However, there is little room for blame. That should be laid squarely on the government\u2019s shoulder. After several policy blunders that effectively wiped life savings pushing the country into an economic depression between 1998 and 2002, many prefer alternative forms of money. The Peso is plunging, and with a $50 billion lending arrangement with the IMF, the economy is on crutches. Therefore, it is exciting news that in every Argentinean blockchain project that Binance Lab funds, the government through the Founder\u2019s Fund and the Ministry of Labor, will sink $50,000 in grants. It is precisely what the community wanted and even a good sign of what is to come. Perhaps, it\u2019s a reliable indicator showing a rapid shift of trend where governments instead of swimming against the tide or rolling their sovereign backed asset like the already flopping Petro, are realigning with the general public and embracing the powers presented by public blockchains like Bitcoin. The $50k may give them a significant stake and make them money, but it is their endorsement that interests the crypto verse. Candlestick Arrangements Coupled with other factors as Binance Launchpad and Binance DEX, Binance Coin (BNB) is pumping. To quantify, the coin is up the rankings displacing TRX and XLM as it registers 10.4 percent in the last day and 53.4 percent from last week\u2019s close. If anything, this is overwhelmingly bullish, and we expect prices to edge higher as demand builds. From a technical perspective, BNB is trading within a bullish breakout pattern. Because of higher highs of Mar 5, the path of least resistance is crystal: Northwards. Bouncing off the 78.6 percent Fibonacci retracement mark on the coin\u2019s all-time high low, recent higher highs seems to be like the release of a pent-up force. As a result, every dip (between $12.4 and $14) should be a buying opportunity, and the first target will be at $20 and later $26 as mentioned in our last BNB\/USD price analysis. Technical Indicators In a breakout pattern, Mar 5 bull bar is significant. It has high volumes. And while we expect a retracement back to $12.4-$14 zones, any surge in participation levels could reinvigorate price action cementing our bullish outlook.<\/p>\n","protected":false},"author":384,"featured_media":347589,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[223,13291,11427],"class_list":["post-373867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-argentina","tag-binance-coin","tag-bnb"],"acf":[],"yoast_head":"\n<title>Binance Coin (BNB) Defying Gravity After Sovereign Backing<\/title>\n<meta name=\"description\" content=\"Binance Coin (BNB) price up 54 percent in last week The government of Argentina is supporting blockchain projects backed by Binance Labs Participation\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Binance Coin (BNB) Defying Gravity After Sovereign Backing","url":"http:\/\/wncen.com\/news\/binance-coin-bnb-defying-gravity-after-sovereign-backing\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/binance-coin-bnb-defying-gravity-after-sovereign-backing\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts4.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts4.jpg?fit=1200%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["argentina","binance coin","bnb"],"dateCreated":"2019-03-07T18:00:40Z","datePublished":"2019-03-07T18:00:40Z","dateModified":"2024-06-11T21:03:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Binance Coin (BNB) Defying Gravity After Sovereign Backing\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/binance-coin-bnb-defying-gravity-after-sovereign-backing\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/binance-coin-bnb-defying-gravity-after-sovereign-backing\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-alts4.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-alts4.jpg?fit=1200%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"argentina\",\"binance coin\",\"bnb\"],\"dateCreated\":\"2019-03-07T18:00:40Z\",\"datePublished\":\"2019-03-07T18:00:40Z\",\"dateModified\":\"2024-06-11T21:03:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts4.jpg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/373867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=373867"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/373867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/347589"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=373867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=373867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=373867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}