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BNB (previously known as Binance Coin) hits a new all-time high against Bitcoin (BTC). This is due to growing excitement about the future role of cryptocurrencies on Twitter.
Cointelegraph Markets Pro and TradingView We see BNB/BTC surge above 0.15 BTC to a record high of 0.15267 BTC on October 30th.
BNB, the in-house token of Binance, the largest cryptocurrency exchange by volume, has risen nearly 10% in the last 72 hours.
The strong performance comes after reports that Binance is preparing to help Twitter root out bots as part of a new direction under Elon Musk.
Binance donated $500 million to acquire Musk’s social media platform.
Our intern said he transferred $500 million two days ago, probably just when I was asked about Elon/Twitter, said Changpeng CZ Zhao, CEO of Binance. I have written In a cryptic tweet referencing a comment he made to crypto media outlet Decrypt.
A further post from CZ states “Let’s unleash the birds” and a “Crypto Twitter”, the former being Musk’s my tweet“The bird has been released.”
Meanwhile, in USD terms, BNB hit a high of $318.80, its best performance since mid-August.
Musk was also responsible for the recent outperformance of another popular cryptocurrency, Dogecoin (DOGE).
RELATED: Dogecoin price rises 150% in 4 days, but DOGE is most ‘overbought’ since April 2021
In a familiar setting, Twitter-linked Musk’s actions sent DOGE price action into a frenzy, pushing DOGE/USD to its highest level since April.
Long a favorite of Musk’s, DOGE is still awaiting wider application, perhaps due to his involvement.
Meanwhile, the popular pseudonymous analyst Tree of Alpha suggest Retail traders can do this with the help of both the Twitter and Binance ecosystems.
Completely quiet another ATH as dog coins please, they wrote of BNB, adding:
Imagine what it smells like when Launchpad becomes a hot topic again and retailers start buying trash in bulk on BSC. Are you actually declining?”
On the other hand, the Analytics account Stockmoney Lizards I got it The striking similarities between DOGE price action and the Relative Strength Index (RSI) are repeated this year.
Dogecoin copies itself, he summarized.
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. All investment and trading movements involve risk. You should do your own research when making a decision.
