{"id":55132,"date":"2019-08-08T20:00:56","date_gmt":"2019-08-08T18:00:56","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=55132"},"modified":"2019-08-08T18:07:09","modified_gmt":"2019-08-08T16:07:09","slug":"binance-coin-bnb-outperforms-bitcoin-ethereu","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/binance-coin-bnb-outperforms-bitcoin-ethereu\/","title":{"rendered":"Binance Coin (BNB) Outperforms Bitcoin, Ethereum & More: Here’s Why"},"content":{"rendered":"\n
Bitcoin<\/a> (BTC) bulls have paused their foray to the upside for the time being. As of the time of writing this piece, the cryptocurrency has shed a mere 0.5% in the past 24 hours. A majority of the leading altcoins in this market have followed suit, posting slightly more severe losses. <\/p>\n\n\n\n But, there has been one notable liferaft in the sea of red that is the cryptocurrency market. Binance Coin (BNB), the native digital asset of the exchange that shares its name, is up a relatively astonishing 6% in the past 24 hours, rallying past $30 for the first time in a number of weeks.<\/p>\n\n\n\n This strong move to the upside, which comes as altcoins have widely paled in comparison to the market leader, only accentuates BNB’s ability to outpace even Bitcoin in a bull market. It does, however, remain to be seen whether or not the exchange cryptocurrency can continue this trend.<\/p>\n\n\n\n So, why is BNB surging when Bitcoin and its ilk have been suffering?<\/p>\n\n\n\n Well, as normal, it has much to do with recent developments in the Binance ecosystem. Although it isn’t clear what exactly triggered the gain, the exchange has seen an array of positive developments over the past 24 hours. <\/p>\n\n\n\n The most likely catalyst for the price rally seems to be an update <\/a>to Binance’s initial exchange offering (IEO) model. The update is that those wishing to participate in these IEOs should hold BNB as early as possible to get a higher chance in participating in these often highly-profitable investment rounds. With Binance announcing an IEO every month, the holding period is expected to begin in the coming days, hence investors trying to front-run demand. <\/p>\n\n\n\nWhy is BNB Surging?<\/strong><\/h2>\n\n\n\n