Binance Coin [BNB] surges by over 5% in 2 hours as exchange celebrates World Password Day

Even as most cryptocurrencies saw sideways movement, Binance coin [BNB] surged by over 5% in 2 hours. Binance’s effort to celebrate World Password Day contributed to this sudden surge.

At press time, BNB was valued at $22.81 with a market cap of $141.18 million. The 24-hour trading volume of the coin was $198.35 million, while registering 4.84% growth over the past day. The coin dipped by 0.24% over the past week, but was showing strong growth of 1.53% by the hour, at press time.

Source: Trading view

Source: TradingView

There are three existing candlesticks depicting growth of the coin from $22.78 to $24.14, which amounted to 5.98% growth. The coin was highly traded on Binance via the BNB/USDT pair and BNB/BTC pair. The exchange reported $49.09 million in trading volume with BNB/USDT pair, followed by BNB/BTC pair with $34.89 million. LBank took the third place, noting a trading volume of $19.54 million via BNB/USDT pair.

Recently, Binance coin’s native exchange, Binance, enabled margin trading flag according to a Reddit post. A month back, another Reddit user had posted that the exchange was planning to start margin trading after updating Application Programming Interface [API].

Reddit user, Liofifo, informed that the exchange enabled margin trading flag for Bitcoin/Tether, Binance Coin/Bitcoin, Binance Coin/Tether, Ethereum/Bitcoin, Ethereum/Tether, Tron/Bitcoin, Tron/Tether, XRP/Bitcoin, and XRP/Tether. The user noted,

“Remember this post over a month ago? Research: Margin trading features found on Binance API. I took another look today and found that the isMarginTradingAllowed flag is now enabled for the following 9 pairs […] Perhaps, a sign that the margin trading is coming soon to Binance.”

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