What’s Behind The Sudden Rise In Binance Coin (BNB), Storiqa (STQ), Golem (GNT)?
Some coins have seen a sudden surge in price over the last couple of days, sparking reserved hope of a market about to recover. The top coins too are trading in the green over the hour, though the bears seem not to be done yet. Here are three coins with huge price gains over the last 24 hours.
Binance Coin (BNB)
BNB is among the tokens that have seized the initiative to recover over the last two days. It might be rising now, but it’s only a couple of weeks ago, that Binance Coin appeared set to roar through the market, defying the bears.
Predictions that it could slalom to the $20 price level have thus far been disapproved by stagnation at the $11 and $14 range.
At the time it looked set to take the “Binancers” to the moon, the largest crypto exchange had just announced an incentive that caught the attention of many BNB investors. Every hodl of 500 tokens would earn 40% bonus-double the previous amount of 20%.
Though this took prices to over $16, the pressure in the market quickly saw them return to below $15 within days. It’s interesting to note that the token has not been gaining a lot even when Binance adds new coins to the site.
That trend is however set to reverse with more trading pairs like EOS/BNB coming into shape. And its value will steadily rise as the stature of the platform rises.
Currently, BNB/USD trades at $13.63, having seen a price surge of +8.45% in the last 24 hours and +7.61% in the last 7 days. The 18th ranked coin has a market cap of $1.55 billion and a 24h trading volume of $82 million. If the market takes a positive turn, expect a solid run from this coin.
Storiqa (STQ) is the biggest gainer today according to data on CoinMarketCap. The coin has spiked by an incredible 190% in the last 24 hours and even more astoundingly, its +425% higher over its price in the last 7 days. Currently, STQ trades at $0.0223 against the dollar with a market cap of $173 and is ranked 86th.
The quick rise up the ranks has surprised even the team, which has however promised that there’s more to come. One of the reasons the token is blazing hot is the new listings on crypto exchanges.
After being added to HotBit, news by the Storiqa team suggests that the token will soon be on Coinbene. Their tweet said:
“Waiting for new markets and exchanges? We are ready for #Chinese #cryptomarket: #STQ token will be listed on @coinbene”
Currently, you can buy or trade the token on Indodax that provides over 90% of the volume. Others are IDEX, Tidex, and HitBTC. An addition of new markets is sure to see the coin skyrocket even further.
Still an ERC-20 token, Storiqa seeks to leverage blockchain and allow users to develop their own stores or shops and sell physical items for crypto. Users can also monetize reviews related to the business.
Though hot at the moment, investors should remember the high volatility of digital assets. Nevertheless, if you can afford, get a few dollars and see how it goes.
Golem is also ranked among the biggest gainers this week according to data at CoinMarketCap. The GNT token has surged by +37% over the last 7 days to appear 25th on the list.
Golem is slowly gaining a lot of deserved attention due to one major reason: it’s likely to be a hit within cryptocurrency circles. Also referred to as the”AirBnB of computing”, the crypto provides a platform where users can share and access excess CPU power.
It aims to become a global, decentralized supercomputer. The ease of sharing and getting paid for the extra computer power will draw users to the network. In turn, this will spur the growth of the native token GNT.
Golem has even attracted the attention of known crypto promoters who predict that there’s a greener future for the GNT token. Part of the reason is the increasing visibility of the token and its status as the top Ethereum-based project.
In terms of visibility, the token can be traded on some of the major cryptocurrency exchanges like Bithumb, Binance, Huobi, Upbit, Bittrex, OKEx, and Poloniex among others.
GNT currently trades at $0.637 against the USD and has a market cap of $535 million. The token has continued to surge for the second day with +13.29% in the last 24 hours and +37.36% over the last 7 days.
As more users begin to understand how it works, and as the market sheds off the bears, expect the value to rise further. It can easily shoot for the $1.00 level.