Binance has recently completed a burn of 2.1 million BNB tokens. This strategy is aimed at reducing the token’s supply and increasing its value. In other news, Ethereum Classic and Pullix have seen notable gains, positioning them as the best altcoins to buy in the current market.
Binance Coin (BNB) Completes 26th Quarterly Burn
On January 17th, the BNB Foundation conducted the 26th quarterly Binance Coin (BNB) token burn through the BNB Chain. Auto-Burn and the Pioneer Burn Programme destroyed 2,141,487.27 BNB, worth $636 million.
This was part of Binance’s goal of removing 100 million tokens from its circulating supply. Binance Coin price has reacted positively to the news as it scored a 3.4% gain and 20.0% on the weekly and monthly price chart.
It is currently trading within the $294.35 – $319.01 price range. The altcoin trades above the 50-Day SMA at $275.45 and the 200-Day SMA at $245.79. According to analysts’ Binance Coin price prediction, Binance Coin is predicted to rise by 58.04% and reach $498.11.
Ethereum Classic (ETC) Up 17.1% in the Past Month
Ethereum Classic (ETC) has seen a 17.1% increase in the monthly time frame. Data from CoinMarketCap shows that Ethereum Classic price trades between $18.50 and $32.36.
Some skeptics say Ethereum Classic’s rapid rise is due to an impending hard fork later this month. This hard fork is believed to improve the alignment of the network’s EVM with Ethereum’s. This may invite more projects to the chain.
Others, however, attributed the bullish momentum surrounding Ethereum Classic to the likelihood of an Ethereum ETF. Besides, BlackRock CEO Larry Fink has expressed support for the introduction of an Ethereum-based ETF.
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Pullix (PLX) Surges 100%, Set for Bigger Gains
Pullix (PLX) has raised excitement in the crypto market after making a 100% price increase to $0.08. Many investors have been attracted to this new DeFi project. Pullix is the first to operate a hybrid exchange design in the DeFi market.
One of its notable features will be high-speed transactions and an increased number of tradable assets. In contrast to platforms such as Binance, which mainly focus on cryptocurrencies, Pullix extends the target to other financial markets. The DeFi project enables the trading of forex, stocks, ETFs, and commodities.
This gives Pullix the edge over other exchanges. For instance, the OTC Derivatives market trades more than $40 trillion daily, while the forex market has a total daily volume of $6.6 trillion.
However, there is more to Pullix. The exchange is dedicated to providing a seamless user interface. It also enables users to trade without revealing too much since Pullix eliminates the requirement for thorough KYC checks.
This approach not only enhances privacy but also makes trade easier and accessible to more people. Thus, for traders who are interested in trading various assets anonymously, Pullix remains one of the leaders among other projects on the DeFi market.
Binance Coin, Ethereum Classic, And Pullix are some of the best altcoins to buy in the market right now. While Binance Coin and Ethereum Classic are old tokens, Pullix is a new name in the crypto space.
Yet, it has made a name for itself in the past month, raising over $4,000,000 and selling more than 75 million tokens. Its features and potential have been a major attracting factor. This makes it a worthy addition to your crypto portfolio.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.