At the latter stages of the day, Binance (BNB)/USDT is trading up with gains of 8%. Bulls have a foothold and have driven the price green six out of the last seven sessions. A total accumulated advance of around 20% was seen within that mentioned time frame.
The most important driver in the short-term has been the launch of the Binance Launchpad, the exchange’s new token sale platform the enables projects to issue tokens to accredited investors.
— Binance (@binance) February 4, 2019
Plus, this week, Binance announced that it would start to allow limited use of major credit cards in the purchase of cryptos on its exchange.
This comes just a week after Binance announced its first major foray into European markets, by launching Binance Jersey. This allows for an on-ramp for Euro and Pound trading for coins like Bitcoin (BTC-USD) and Ripple (XRP-USD).
This new means we step close to Binance allowing for fiat-to-crypto purchases, where currently the exchange only allows crypto-to-crypto.
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After the bottom hit in December, around $4.1200, the price has recovered over 70%, to current levels. During this upside trend, price action has formed a rising wedge formation.
Should the bulls manage to maintain upside momentum and clear the above-mentioned supply, then eyes will be on 0.002300. BNB is approaching the main high level, but it has not surpassed an area of resistance. This is really the moment to watch as it could enter the price discovery mode.