New Popular Project Appears in DeFi Industry
BNSD Token Jumps 3000% In Less Than 24 Hours, But Correction Has Already Begun
Users troll Binance with offers to list a token
International consortium of news organizations developing transparency standards.
Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More BNSD rose sharply on Monday 7 September amid unexpected attention from profitable farmers. However, his success may be fleeting..
BNSD Finance is a new darling in the DeFi industry. The project token (BNSD) occupies a distant 2300th place in the CoinMarketCap rating, but this did not prevent it from adding more than 3000% per day. The average daily trading volume of the BNSD token was approaching $ 8 million at the moment.
It never happened, and here it is again
The project started in August, but few people knew about it until it came to the attention of profitable farmers. One of the crypto users tweeted about him and away we go. Little-known token skyrocketed, and its early supporters managed to make huge profits.
@bitbns goes DeFiDecentralized finance (DeFi) is a blockchain-based financial service that offers users access to an open, efficient and … More!
This project bnsd finance is in early stages and the rewards are super high now! Join and farm with me!
Website: https: //t.co/oPCpIAkpvj
Coingecko: https: //t.co/6GbeccNslt
Uniswap: https: //t.co/5ONzWhTnC1 pic.twitter.com/RsGGyjESoL
– Crypto Szene Schweiz (@CryptoSzene) September 6, 2020
The token is most actively traded on the Uniswap (v2) platform, where it managed to enter the top 15 most popular projects. In addition, it is available on the KuCoin and Bitbns exchanges, the latter being part of the BNSD Finance project.
Binance off topic yet
Some immediately suggested that Binance not miss the moment and add BNSD to the listing. The BeInCrypto editorial staff previously reported that the cryptocurrency exchange has actively joined the DeFi industry and added several tokens at once, including the scandalous sushi SushiSwap (SUSHI) and yffi finance (YFFI). The cryptocurrency community has hit the exchange with criticism for risky and potentially fraudulent projects, but Binance has its own vision of the situation.
Time to list $ BNSD on Binance @cz_binance @binance @bitbns
DeFi project by India’s one of the largest CeXhttps: //t.co/b7pVSfbfF4$btc $ xrp $ eth $ bnb $ bns $ ada $ link $ dot $ waves
– Himanshu Gupta (@ himugupta23) September 6, 2020
However, in response to criticism, the head of the exchange, Changpeng Zhao, said that innovation involves risks. He also added that all users should independently assess risks and be responsible for their trading decisions. Moreover, he recalled that during the crypto winter period, he advised not to panic, but during the period of excitement – to be careful..
What’s in store for BNSD
The token jumped from $ 0.006 (September 6) to $ 0.2433 (September 7). BNSD is down $ 0.0911 at the time of writing, although it is still one of the most popular coins in the DeFi industry..
The coin has already lost more than 61% from its all-time high and the correction could intensify, especially if the DeFi segment continues to decline. In this case, the token will repeat the fate of its predecessors, which died out as quickly as they lit up. Recall that the SUSHI token has already fallen in price by more than 80% relative to the peak.
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..
CONTENTS There are unresolved issues in the DeFi market Decentralized finance raises a number of questions Not everyone sees the future of finance in DeFi International …
CONTENTS Many members of the crypto community see investment risks in DeFi The decentralized finance market has been compared to a bubble Yield level …
CONTENT The DeFi Industry Remains the Main Joke of the Cryptocurrency Community Traders are hoping for Bitcoin to rise to new heights Bulls and …