Binance Coin, the value of BNB stands out among the prevailing drops
Binance Coin, the value of BNB stands out among the prevailing drops
Trading

Binance Coin, the value of BNB stands out among the prevailing drops

By Federico Izzi - 16 Jan 2019

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Red signs prevail for the main cryptocurrencies, while Binance Coin (BNB) stands out among the few in positive territory, with a daily balance above 2%.

Following the roadmap on the whitepaper, the sixth burning of Binance Coin takes place, making the coins amount to 189,175,490 from the initial 200 million distributed during the ICO. For this reason, Binance Coin continues the burning process that, as usual, supports the rise in the value of the token

Despite the period of ups and downs, the value of Binance Coin is among the few to have remained positive since the beginning of the year.

For the rest, the market is affected by the uncertainty regarding the postponement of the expected Constantinople fork on the Ethereum chain that was to take place in the next few hours.

Last night however, ChainSecurity detected a problem related to security vulnerability within certain commands determined in smart contracts allowing for the so-called reentrancy attack.

By taking advantage of the bug, it would have been possible to obtain repeated payments, falsifying the balance until the related account was completely emptied.

For this reason in the last hours, the developers of the project and the coordinator of the update, Afri Schoedon, announced a conference meeting on Friday, January 18th, in order to assess the measures to be taken, thus postponing the implementation to the coming weeks.

binance coin value

Bitcoin (BTC)

The upward break of the 3800 dollars that most likely would have projected the prices to test the 4000 dollars has failed. The 4000 level was a former support which has now become a crucial resistance in the medium to long term.

To see a consolidation it is necessary to hold the 3700 dollars. Otherwise, there is an increased possibility of revising prices in the 3500 area, or even lower.

binance coin value

Ethereum (ETH)

The $130 resistance manages to repel the rebound attempt that began on Sunday evening.

Prices return close to $120, increasing fears of a possible landing below $115, the monthly support level.

Uncertainty due to the postponement of the Constantinople hard fork is reflected in the prices with traders who, in doubt, prefer to stay still, thus encouraging short-term speculation.

It will be necessary to hold on to the support in order to restore confidence even among those who are fond of technical analysis.  

Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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