These Were The Most Profitable Trades On Binance During January

AltSignals has recently released its new monthly report for the month of January with massively good results for its followers. In this report, we have seen that BitMex, Binance and FX trading signals provided by AltSignals were profitable the first month of the year. In this article, we will go and analyze some of the details related to this report and see which were the most profitable trading pairs on the Binance platform in January. If you want to know more about Binance or about AltSignals you can read our guides about them:

Best Trades On Binance During January

As it is possible to see in the official AltSignals report for January, Binance reported a January with a total profit of 55% for traders. Although it may seem a low amount, this is extremely high, considering that holding would have provided lower returns to investors.At the same time, the signals provided by the company throughout the month were 21 of which 8 of them were profitable and 13 of them were not profitable. This shouldn’t be considered negative. Indeed, AltSignals works with a very tight stop loss technique that would allow traders to reduce the risk if the trade doesn’t move in the right direction.The winning trades were much more profitable than the money lost by losing trades. The best trading pairs – the most profitable ones – were linked to altcoins traded against Bitcoin (BTC). As per the report released by AltSignals, the top 5 most profitable trades made in January included the following trading pairs:

HC/BTC — 29.7% profit
LINK/BTC — 23.7% profit
ENJ/BTC — 19.9% profit
WAN/BTC — 17.5% profit
NKN/BTC — 11.9% profit

Hyper Cash (HC)

The first one is Hyper Cash (HC), a virtual currency that was released back in 2017 and that experienced a very good beginning of 2020. Although the virtual currency is still far from its all-time high reached in early January 2018, this could be the moment for it to start moving forward. You can see the way in which this virtual currency behaved in the last few years:

ChainLink (LINK)

LINK is making reference to Chainlink, a cryptocurrency that had an exceptional performance throughout the last years. It is difficult to find altcoins with the performance experienced by Chainlink. Indeed, this virtual currency is close to reaching new highs and the month of January was very positive for this digital asset. In the future, it could continue growing and generating great profits for traders. As shown in the report, LINK/BTC produced great gains for traders that registered 23.7% profits by following AltSignals trading signals. Entering and exiting at the right moment is also a key thing to take into account for the future.

Enjin Coin (ENJ)

Enjin Coin is also a popular virtual currency that is linked to the gaming community platform called Enjin Network. The company decided to conduct an Initial Coin Offering (ICO) in 2017 and they gathered over $18.9 million in funds from investors. This Enjin Coin (ENJ) is now allowing users and gamers to increase their revenue with the ownership of digital assets and tokenized assets. The solutions provided by Enjin – which is an Ethereum-based virtual currency – allow individuals to back the value of blockchain assets. January was very good for Enjin, which allowed it to reach the highest price since June 2019.

Wanchain (WAN)

This virtual currency is somehow different from the ones mentioned before. Indeed, this cryptocurrency is still close to 98% down from its all-time high. This shows that this virtual currency is experiencing problems to move forward in the market. At the moment, WAN wants to create a financial market by connecting a wide range of virtual currencies. In order to do so, they have developed cross-chain solutions that allow it to transfer value between different blockchain networks.

NKN

Finally, this virtual currency registered 11.9% growth against BTC in one of the most profitable trades on the Binance platform in January this year. This virtual currency is among the largest 300 in the world and it aims at becoming a new P2P network connectivity protocol. They are also working in order to attract users to share their network connecting and unused bandwidth.As it happened to many altcoins, January was very positive for this virtual currency. Nonetheless, it is far from its all-time high.

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