{"id":389694,"date":"2019-07-13T10:14:47","date_gmt":"2019-07-13T10:14:47","guid":{"rendered":"https:\/\/wncen.com\/?p=389694"},"modified":"2019-07-13T10:14:47","modified_gmt":"2019-07-13T10:14:47","slug":"binance-coin-flips-eos-after-coin-burn-as-bitcoin-continues-to-consolidate","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/binance-coin-flips-eos-after-coin-burn-as-bitcoin-continues-to-consolidate\/","title":{"rendered":"Binance Coin Flips EOS After Coin Burn as Bitcoin Continues to Consolidate"},"content":{"rendered":"

Altcoins are still getting beat up as we enter the weekend. Bitcoin has remained range bound with little movement over the past 24 hours but there has been some position jockeying in the market capitalization charts this morning.<\/p>\n

Bitcoin Consolidating Following Trump Tweet<\/h2>\n
BTC has spent most of the past day or so trading sideways. An intraday high of $11,900 was touched last night but there was no break above $12k and Bitcoin retreated again. Bitcoin is still falling<\/a> and currently back at short term support just above $11,500. Daily volume is also tailing off and is now back to $20 billion.<\/p>\n
$\"bitcoin\"$ <\/a>
BTC price 24 hours. Coinmarketcap.com<\/figcaption><\/figure>\n
The crypto community is still twittering away about Trump\u2019s Bitcoin comments<\/a> a couple of days ago. Most are of the opinion that is was bullish for the scene as crypto has now become truly mainstream with even the POTUS taking a stance on it.<\/p>\n
Naturally governments and banks are going to want to keep things the way they are and a new decentralized digital form of peer-to-peer finance totally undermines their tight grip of control over their populations.<\/p>\n
CNBC even hosted a pro-crypto Squawk Box<\/a> yesterday with achor \u2018Joe Squawk\u2019 stating that Trump\u2019s comments were unsurprising since he also seeks to devalue the dollar.<\/p>\n
Altcoins In Pain<\/h2>\n
Elsewhere in crypto land the tide of red is washing across the altcoin markets once again. Ethereum has retreated a couple of percent back to $270 and it remains bearish for the time being. XRP has been dumped and now has half the market capitalization of ETH which was once below it. The Ripple token has shed another 3 percent today falling to $0.335.<\/p>\n
Litecoin halving<\/a> fomo appears to have totally fizzled out as LTC falls back towards $100, dangerously close to double digits once again. There are now only 22 days to go and the likelihood of Litecoin returning to a new high for the year above $150 is looking slim.<\/p>\n
Bitcoin Cash is also weak, falling another 4 percent back below $350. Today\u2019s big move has been Binance Coin which is the only altcoin in the green in the top ten. BNB has only made 1.5 percent but it has been enough to flip EOS which has dumped 2 percent falling to $4.72. The difference in market cap is only $150k but Binance Coin is now the sixth largest crypto asset on the planet. The eighth quarterly coin burn dropping the supply has driven today\u2019s momentum.<\/p>\n
\n
#Binance<\/a> completed the eight quarterly \u201cburn\u201d of Binance coin (#WeissRating<\/a>: C+), destroying $26 million worth of tokens. Kudos to Binance \u2013 give credit where credit is due. We wish it didn\u2019t raise token value by resorting to such cheap tactics.#crypto<\/a> #cryptocurrency<\/a> #BNB<\/a><\/p>\n
— Weiss Crypto (@WeissCrypto) July 12, 2019<\/a><\/p><\/blockquote>\n