Binance Coin (BNB) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Tuesday, the Payments/Other has dropped 2.37% to $515.11.
InvestorsObserver gives Binance Coin a low volatility rank of 8, placing it in the bottom 8% of cryptos on the market.
The Volatility Gauge analyzes this means that the rank represents its recent trends and isn’t overly influenced by a sudden spike – or two – in volatility.
BNB’s low volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.
Binance Coin price is trading near resistance. With support around $498.53 and resistance set at $519.97. This leaves Binance Coin with potential selling pressures ahead as it may be getting over extended.
What is a Coin?
A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.