Today, Bytecoin has exceeded its peak value as recorded in the cryptocurrency boom at the start of 2018, moving past its previous height of $0.0169, up to $0.0178 as recorded at the time of writing. Now, as it stands, Bytecoin is up 163.96% and continues to climb in the wake of a new listing for Bytecoin, on the cryptocurrency exchange, Binance.
Since the announcement, Bytecoin has risen from a value of around $0.0069 up to $0.0178 in a matter of just a few hours, with its market capitalisation following, up from $1,283,285,351.00 to an astonishing $3,289,114,861.00 in the same period of time.
Now, as it stands, Bytecoin is ranked 15th for market capitalisation, paying tribute to the incredible boost it has seen from this Binance listing.
I’m so proud to announce that Bytecoin is listed on @binance!!! A million thanks to everyone who participated in the integration process! And a huge thank you to our community for staying with us for all this time! @jnfgoldberg #BCN #binance #ByteCoin
— Bytecoin BCN (@Bytecoin_BCN) May 8, 2018
As we know, Binance is one of the biggest cryptocurrency exchanges in the world and, all in all, just one more listing for Binance in the form of Bytecoin is just a drop in the ocean for Binance. However, for the team behind Bytecoin, the capacity for success this brings is unimaginable, with more people than ever now given access to Bytecoin trading. Moreover, at the currency seems to push upwards through this announcement, we should expect more and more people to jump on board. If Bytecoin continues to move at this rate, it could hit some very high values soon enough, at least in the grand scheme of things.
By this, I mean Bytecoin won’t his $10.00, but its current progression could see it reach between $0.05 and $0.10, soon enough.
Of course, Bytecoin won’t continue to climb at 163% and beyond for an extended period of time, as the hype surrounding the Bytecoin listing on Binance dies down we will see correction take place, and indeed the value of Bytecoin will find a mean level, overall though this Binance listing has greatly enhanced the future prospects for both the Bytecoin currency and of course the team behind Bytecoin. What will be interesting to see now is if Bytecoin can maintain the huge market capitalisation it seems to have won itself.
If so, Bytecoin could soon move from passive altcoin, to reach cryptocurrency contender over the coming weeks.
This is of course not investment advice and does demonstrate how reactive and volatile the cryptocurrency markets are. For now, our advice is to pay close attention to Bytecoin. Perhaps it will remain in the top 15 for some time, if so, interest in this currency is about to take off. Otherwise though, we may very well see Bytecoin fade back into the distance as the hype from the Binance announcement begins to die down.
Either way, today marks some great successes for the Bytecoin team, something that I’m sure many investors will be very happy about.
Featured Image Original Source: Pixabay