- 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.
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.
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.