Binance Launchpad Announces New Project, BNB Breaks $15.50

In brief:

  • Binance Launchpad will conduct its second crowdfunding campaign of 2020 with the Cartesi Project.
  • In an earlier analysis, $15.50 had proved a difficult ceiling to break for Binance Coin (BNB).
  • BNB has since broken this resistance and looks set to attempt erasing all losses of March.

Opening the twitter page belonging to the Binance crypto exchange always has a level of excitement to it. Every day, there is always a new development or an announcement further stating the case that Binance Coin (BNB) could be one of the best assets to consider as a long term hold.

Cartesi: Second Launchpad Project of 2020

Just yesterday, April 13th, the team announced Cartesi as the second project of 2020 on their LaunchPad platform. The token sale will be carried out on the 21st of this month with the standard ticket claim by holders of BNB. The exchange further explained it will be taking hourly snapshots between the 14th of April (00:00 UTC) and 21st of April (00:00 UTC) to determine the eligibility of BNB holders. The team also provided the following details about the Token sale:

  • Taken name: Cartesi (CTSI)
  • Sale price: 1 CTSI = $0.015 (price in BNB)
  • Allocation of $200 per winning ticket
  • Maximum of 10 tickets per participant

A complete description of the terms of the token sale can be found here.

What is Cartesi?

Cartesi has a vision of building an operating system for Dapps. The projects enables complex computations to run in a Linux environment, outside of the blockchain without compromising decentralization. By doing so, it will make Dapps more powerful, cost-effective, easier to create and portable.

Binance Coin (BNB) Breaks the $15.50 Resistance

In our previous analyses of Binance Coin (BNB), we have correctly foreshadowed that the coin would break both the $14 and $15.50 resistance levels. Initially, we were inclined to declare BNB in bear territory but we however flipped our stance after the team at Binance kept announcing new developments almost daily. The most recent development being the acquisition of Coinmarketcap and the launch of Bitcoin Options on the platform.

Binance Launchpad Announces New Project, BNB Breaks $15.50 18
BNB/USDT 6-Hour chart courtesy of

Further revisiting our 6-hour BNB/USDT chart, we observe the following:

  • Its current price of $15.60 is above the 50 (white), 100 (yellow) and 200 (green) moving average. This further supports the bullish narrative for BNB.
  • The next resistance is at the 0.618 Fibonacci retracement around $15.95.
  • Other resistances include $26.33 and $17.52.
  • The 6-Hour MACD has crossed in a bullish manner above the baseline.
  • The 6-Hour MFI is at 80 but with the token sale 7 days away, it could go higher due to the constant demand to hold BNB before the token sale.
  • BNB look set to erase losses experienced in the Coronavirus crash of mid-March.

(Feature image courtesy of Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin54,968 0.27 % 1.18 % 8.51 %
Ethereum4,142.1 0.75 % 2.06 % 6.63 %
Binance Coin594.39 0.73 % 1.23 % 1.84 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana192.56 1.96 % 0.25 % 11.80 %
Cardano1.520 2.18 % 1.17 % 21.32 %
XRP0.9316 0.77 % 0.85 % 15.33 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2215 0.68 % 1.42 % 7.23 %

Bitcoin (BTC) $ 54,791.00
Ethereum (ETH) $ 4,118.29
Binance Coin (BNB) $ 590.95
Tether (USDT) $ 1.00
Solana (SOL) $ 189.81
Cardano (ADA) $ 1.49
XRP (XRP) $ 0.926723
USD Coin (USDC) $ 1.00
Polkadot (DOT) $ 33.69
Dogecoin (DOGE) $ 0.199349