Robinhood and Coinbase stocks have surged following the recent election win.
Binance Coin’s stagnant performance raises speculation about a potential breakout.
Investor sentiment around the U.S.-based crypto platforms remain optimistic, with a close watch on BNB.
In the highly disputed patriarchal societies, it is evidenced that after the recent win by Donald Trump, the market for companies dealing with crypto such as Robinhood (HOOD) and Coinbase (COIN) have received huge boosts. This post-election momentum has not yet applied pressure on Binance Coin (BNB) in this regard, so investors naturally start wondering whether BNB may join the trend soon. The past activity of HOOD and COIN shows increasing investors’ attention to crypto assets and firms connected with the U.S. markets.
Robinhood and Coinbase Stocks Show Positive Response
This is evident after the election results when shares in Robinhood and Coinbase went high. A clear up move was obvious in the revenue generating stock $HOOD with the closing price indicating $29.85. Likewise, COIN kicked past $250 and reached $254.30, a new record for the ecommerce for cryptocurrencies.
https://twitter.com/ali_charts/status/1854431022802223349
These positive signals demonstrate optimism from investors into crypto based platforms and financial services based in the United States after the election assuming that the new political circumstances may usher in favorable regulation or, at worst, recognition of cryptos in America.
The enhancement of stock prices in HOOD and COIN could be a sign of positive expectations for all businesses within the United States market especially those associated with crypto frat. This optimism could be as a result of the increased regulatory reform or increased awareness from the public towards investment in cryptos after the political change.
Binance Coin: A Potential Breakout Awaits?
Still, Binance Coin ($BNB) itself has not followed the rising stock prices of companies like Robinhood and Coinbase. Needless to say, BNB did not seem to accumulate as much value as btc or eth, for example, closing at $596.33.
There are some analysts who could now theorize that the current position of BNB might be in a retracement level before entering an upward movement or a ‘breakout.’ This lag could open up an opportunity for BNB to experience an upward trend if there is or if the perception towards the token and cryptocurrencies strengthens.
The post Election Sparks New Highs for Robinhood and Coinbase Stocks—Will Binance Coin Catch Up? appeared first on Crypto News Land.
