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BTC $42446.50 (-3.7%)
ETH $2901.70 (-7.3%)
USDT $1.00 (0.08%)
BCH $509.53 (-6.5%)
BSV $134.98 (-7.5%)
LTC $148.98 (-7.5%)
BNB $352.87 (-6.9%)
ADA $2.23 (-0.4%)
DOGE $0.20 (-6.2%)

Binance Coin Hits $50 ATH While DOGE, XRP Fail to Reach $1

Binance Coin Hits $50 ATH While DOGE, XRP Fail to Reach $1
  • Binance Coin has hit its newest all-time high (ATH) price at $50.
  • Meanwhile, Reddit channel WallStreetBets’ favorites Dogecoin and XRP are struggling to reach $1.
  • On February 1, Binance also announced that it is supporting SafePal Wallet, a tokenized hardware wallet.

Binance Coin has finally reached the $50 milestone, making it the new all-time high (ATH). This caused many BNB holders to celebrate, including Binance CEO Changpeng Zhao.

BNB new ATH
BNB new ATH (source: TradingView)

Prior to the newest ATH, Binance Coin lacked support in the $45 level, causing it to have a consolidation period for a couple of weeks.

Interestingly, CZ subtly attributes this BNB price increase to Reddit traders from the WallStreetBets subreddit. Specifically, he said that what is good for Dogecoin is also good for Binance Coin. Then a group of Twitter users with the handle @MasterClassMill commented that hedge funds are short selling BNB.

To that comment, CZ replied:

“In this house, we will never block just one side of the trade, not for any asset. Free market”

At the time of writing, each BNB is worth $49.46, according to CoinGecko.

Meanwhile, it appears Dogecoin and XRP are struggling to reach $1. Despite unthinkable pumps due to the WallStreetBets movement, these two assets are beginning to lose momentum.

At the time of writing, Dogecoin is trading at $0.033, which is well below its recent pump at $0.07. Also, XRP is changing hands at $0.37 at CoinGecko despite its surge to $0.71 last February 1.

Yesterday, Binance also announced that it is supporting SafePal Wallet. The startup describes itself as the first tokenized hardware wallet within the crypto space.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.