The news that Binance will stop serving users in the United States had repercussions on the marketing of its Binance Coin token (<a href="https://www.cryptoknowmics.com/crypto/binance-coin-bnb-likely-to-retrace-in-days-ahead-capped-at-38/">BNB</a>), whose price fell about 8.5% in the last 24 hours. At the same time, Bitcoin's valuation returned to the levels of early June, when it was trading above USD 8,600.

According to Messari figures, the price of Binance Coin went from USD 35.3 to USD 31.6 in the last few hours, representing a decrease in percentage terms of 9.89%. The market movement takes place within the framework of a double Binance announcement. In principle, it closes the doors of its platform to US clients and at the same time announces the future launch of a new subsidiary in the United States to adapt to its regulations.

The Binance Coin token is being traded more strongly against bitcoin and Tether, both pairs with volumes of around USD 168 million, according to CoinGecko data. The figures reveal that the exchange of BNB/BTC and BNB/USDT pairs represent more than 7.3% and 7.7%, respectively, of Binance's total volume.

Meanwhile, Bitcoin rallied 2.14% and traded at over USD 8,600 per unit, a price level it had reflected in the early days of June when it fell below the psychological barrier of USD 8,000. Bitcoin's price could be influenced by investors withdrawing from Binance Coin to BTC and USDT, as the US represents 15% of <a href="https://www.binance.com/en">Binance.com's</a> traffic.

Chainlink equals its price of historical highs
Another cryptocurrency that had significant price upward movement this week is Chainlink (LINK), which achieved 43.15% growth in the last seven days. The token equaled its historical high of USD 1.88 during the previous 24 hours. However, it immediately underwent a 6.70% correction, which returned its price at USD 1.63 per unit.

The Chainlink market could be reacting to the recent news of the integration of its Google Cloud protocol. The integration seeks to make the data hosted on the Internet available within a chain of immutable public blocks, as reported by the Google team this Thursday, June 13.

ChainLink is a middleware blockchain that allows the connection of smart contracts to oracles of reliable data outside the chain of blocks. The 24-hour trading volume of this <a href="https://www.cryptoknowmics.com/crypto/%F0%9F%9A%A8crypto-pump-analysis-eth-bnb-ltc-xrp-%F0%9F%9A%80-programmer-explains/">cryptocurrency</a> is $327,923,821, according to <a href="https://www.coingecko.com/en">CoinGecko</a>. It has a maximum supply of one billion tokens, of which 364 million are already in circulation.

Bitcoin price above USD 8,600 and Binance token losing momentum

Alejandro is a big time crypto enthusiast. He spends most of his day either writing about news and innovation about cryptocurrencies or finding the new hidden gem to add to his portfolio.

Bitcoin price above USD 8,600 and Binance token losing momentum

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