After making a daily high of $61,261, Bitcoin is now trading at $60,038. Meanwhile, one of the biggest exchange coins, BNB, soared over 20% in the past 24 hours and, after recording a new all-time high, is now trading close to $605.
Let’s review some interesting crypto news for today.
Cryptocurrency exchange Binance announced the launch of tradable stock tokens. Moreover, these tokens allow users to trade fractional stocks, which can be denominated, settled, and collateralized in BUSD. In addition, the team stated the listing of Tesla Inc. (TSLA) as the first Binance Stock Token. Further, users can trade this token on the Binance website under the pair TSLA/BUSD starting from April 12, 2021, at 1:35 PM (UTC). Binance Stock Tokens are zero-commission digital tokens, which are fully backed by a depository portfolio of underlying securities. Besides this, traders can purchase these as a part of shares and earn lucrative returns. Notably, trading of stock tokens will be available during traditional exchange hours, and traders are required to go through Know-Your-Customer (KYC) and other related compliance measures. Additionally, the team has plans to list more stock tokens and features in the near future.
For the talk of the town today, we have the Binance exchange coin (BNB), which has exploded over 1,500% since the start of this year. It surged from $37.39 to a high of $637 since January. Moreover, this recent uptick is due to recent developments in the Binance Smart Chain (BSC) and the increasing demand for new BSC projects such as PancakeSwap. In addition, this price surge has fueled its market cap to over $89 billion, and it became the third-largest crypto asset by market capitalization. Notably, BNB has surpassed the volume of the BTC/USDT pair on the Binance exchange today.
At the time of publication, BNB was trading close to $598. Before that, it had recorded an all-time high price of $637. Currently, BNB is facing the resistance of around the $600 region. However, if BNB turns this resistance into support, then it can further move to $749 and $825 levels. On the flip side, if BNB is unable to sustain the current support of $507 and breaks below 20-day EMA, then it can further drop to the $446 zone.
PolkaFoundry partnered with Chainlink to integrate oracle feeds into its DeFi ecosystem. The PolkaFoundry ecosystem helps dApps by providing them access to on-chain and off-chain market data in a secure and reliable way due to this new integration. With this coalition, developers can integrate user experience, file storage, and other data management solutions swiftly and seamlessly. Besides this, developers can utilize Chainlink oracles on Solidity smart contracts on parachains. Collaboratively, the team will work to simplify the complex smart contract integration process. Additionally, this would help dApps to query and retrieve real-time data from on-chain data repositories efficiently.
In the last bit of crypto news for today, we have MicroStrategy, led by Michael Saylor, announcing it will pay its board of directors in Bitcoin. As per the tweet, going forward, MicroStrategy will pay director bonuses in BTC instead of dollars. Further, the firm stated its belief in Bitcoin as a reliable store of value. To unveil this news, MicroStrategy filed for an 8-K form with the United States Securities and Exchange Commission. Notably, MicroStrategy accumulated Bitcoin in every dip since last year. As of now, the firm holds roughly 91,579 bitcoins, which it paid over $2.226 billion at an average price of $24,311 per bitcoin. As Bitcoin is still struggling to cross the $60,000 resistance zone, this news might push its price to the upside.
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