BNB Chain TVL Slumps 24% In Q2, Yet Vital Metrics Surge In Double Digits

The BNB Smart Chain (BSC) experienced a mixed performance in the second quarter (Q2) of the year as the broader cryptocurrency market cooled off after a strong price surge in March. While BNB, the native token of the BSC, remained mostly flat, down 5% quarter-over-quarter (QoQ), the network’s key metrics showed both positive and negative [...]

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Binance Secures Approval To Invest US Customer Fiat Funds In US T-Bills, BNB Price Surges

Binance has received court approval allowing it to invest customer fiat funds into US Treasury Bills (T-Bills) after a year of heightened scrutiny of Binance’s operations in the United States. The decision has resulted in a notable price recovery for the exchange’s native token, Binance Coin (BNB), pushing it toward the $600 level.  Court Grants [...]

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BNB Extremely Bullish: Analyst Targets $1000 Breakout As It Hits New Yearly High

Binance Coin (BNB), the native token of the worlds largest cryptocurrency exchange, has experienced a notable surge of 7% within the past 24 hours.  This upward movement reflects the overall positive trend in the market and places BNB ahead of the top five cryptocurrencies in terms of performance. Interestingly, an important milestone has been achieved as [...]

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BNB Smart Chain Shines In Q1: Triple-Digit Surges In Key Metrics

The Binance Smart Chain (BNB Chain), developed by the worlds largest cryptocurrency exchange by trading volume, Binance, experienced significant growth and performance in the first quarter (Q1) of 2024.  As highlighted in a recent report by Messari, Binance Smart Chain has surged in market cap, revenue, average daily active addresses, decentralized finance (DeFi), total value [...]

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BNB Price Soars As Binance Smart Chain Implements BEP 336 Upgrade, Inspired By Ethereums Dencun

Binance Smart Chain (BSC), commonly known as BNB Chain, has announced the BEP 336 upgrade, inspired by Ethereums Dencun upgrade (EIP 4844), which aims to optimize data storage and processing on the blockchain. The upgrade is expected to significantly reduce transaction costs, improve network performance, and drive the price of Binance Coin (BNB) towards its [...]

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Binance Coin eyes $560 next after BNB price 'Cup and Handle' breakout

BNB price gets a boost as Binance launches a $1 billion blockchain fund.

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Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High?

BNB, the native token of the Binance Smart Chain, experienced a drop on Friday, showing a huge red candlestick after opening at around $305 and moving downward toward $297.93. This downward move began with a rejection at $312.53 on Wednesday, thereby creating resistance at the same level. At the time of writing, the price still [...]

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Aave Joins Binances BNB Chain Ecosystem Heres How Users Benefit

In a significant development for the Binance Smart Chain (BSC) ecosystem, Aave (AAVE), one of the largest decentralized finance (DeFi) market protocols, has announced its integration with BNB Smart Chain. Aave joins prominent projects such as Uniswap, Ambit Finance, PancakeSwap, and Lista DAO. BNB Chain Welcomes Aave According to the announcement, this latest development opens [...]

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Binance Coin (BNB) Faces Sideways Movement, Bears Threaten Further Sell-Off

Binance Coin (BNB), the native token of the Binance exchange, has recently experienced a period of sideways movement. Despite reaching a weekly high of $307 on June 4th, BNB’s price has encountered resistance and is currently trading at $246.2. This article provides an analysis of the recent price action, discusses the potential reasons behind BNB’s performance, and explores the future prospects for the coin. The recent decline in BNB’s price can be attributed to several factors. Firstly, the overall market sentiment has been influenced by a broader correction in the cryptocurrency market. Many altcoins, including BNB, have witnessed a decrease in value as investors take profits and adjust their portfolios. Additionally, concerns over regulatory developments and market uncertainties have added to the selling pressure on BNB. Bearish Threat And Technical Indicators Despite attempts by bulls to regain control, bears pose a significant threat to BNB’s price stability. The crucial resistance level of $308 has become a battleground for market participants. If the bears manage to break down this level, it could trigger a further sell-off, potentially pushing the price lower.  Technical indicators paint a cautious picture for BNB. The Moving Average Convergence Divergence (MACD) indicator has exhibited a bearish crossover, signaling a continuation of selling pressure in the near term. Furthermore, the Relative Strength Index (RSI) currently stands at 35.63 levels, suggesting that there could be a further downside if buying pressure does not increase. Related Reading: PEPE Jumps Nearly 10% In 24 Hours, Sparking Speculation Of A New Rally Moreover, the 50-Weekly Moving Average positioned below the 200-Weekly MA indicates a bearish trend for BNB. This configuration suggests that the price could continue downward in the coming days unless significant positive developments or market catalysts emerge. What’s Next For BNB? Market participants will closely monitor the price action around the critical resistance level of $308. A successful breach above this level could ignite renewed bullish momentum, potentially leading to a recovery in BNB’s price. Traders and investors will also pay attention to any regulatory developments and market trends that could influence BNB’s performance. Despite the current challenges, Binance Coin holds promise as a key player in the cryptocurrency ecosystem. As Binance continues to expand its services and offerings, including its decentralized exchange (DEX) and various partnerships, there is potential for increased adoption of BNB, which could positively impact its price in the long run. Related Reading: Percentage Of ETH Addresses In Profit Reaches 5-Month Low It is important to note that the cryptocurrency market is highly volatile, and prices can change rapidly. Investors are advised to conduct thorough research, stay informed about market developments, and exercise caution when making investment decisions. At press time, Binance Coin (BNB) was trading at $246.2 with a daily price increase of 2.93%. Featured image from iStock.com, charts from TradingView

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BNB Surges 18% To Hit Record High Close To $800: Is Further Growth On The Horizon?

Binance Coin (BNB), the native cryptocurrency of the Binance blockchain, has officially entered a new price discovery phase, recently reaching an all-time high of $774 late Tuesday.  This significant milestone reflects a broader trend in the cryptocurrency market, where attention has shifted from Bitcoin (BTC) to altcoins like BNB and XRP, both of which have [...]

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BNB Nears $250 Level As Market Suffers Volatility; What’s Driving It?

Binance’s utility coin BNB has posted significant gains, surprising investors as the broader crypto market slumps. Bitcoin and Ethereum, including most altcoins, have gone on recess while BNB surges amid rapid expansion plans on the Binance ecosystem. BNB’s spike on Tuesday, August 1, hinged on Binance’s announcement about the asset’s debut in the Japanese market through its newly launched subsidiary, Binance Japan. BNB jumped dramatically from $236.8555 to $246.0655, a nearly 4% increase, immediately after the news circulated the market.  BNB Price Bullish Amid Japanese Debut It is noteworthy that BNB is launching on Binance Japan for the first time since the history of Binance. Moreover, Binance Japan is the only Japanese exchange offering the token on its platform. Therefore, venturing into a new market is like achieving a major milestone for BNB and could guarantee a wider user base and increased daily transactions for the token. Alongside the announcement for the launch of Binance Japan, Binance is offering spot and leverage crypto trading on 34 cryptocurrencies. This vast list potentially entails more transactions on Binance, leading to more BNB spending as the platform’s utility token. Related Reading: Sell The News? Litecoin Traders Capitulate Ahead Of Today’s Halving But surprisingly, the price increase is not reflected in BNB’s trading volume, down over 47% in a 24-hour period. CoinMarketCap data shows BNB recorded over $1 billion in trading volume toward the close of Monday’s trading session.  The token saw an over 253% surge in trading volume on July 31, which didn’t reflect its nearly 1% price decline during the same period. After the sudden surge in trading activity and price, BNB’s movement has stalled as 24-hour trading volume stands at $734 million, with a 0.6% price increase in the last 24 hours. As of the time of writing, BNB trades at $242.9, inching closer to the $250 level as traders accumulate the token in anticipation of major rallies as it trades live on Binance Japan in the coming days.  BNB Vies For More Rallies As It Prepares To Conquer Key Resistance Levels Binance Coin (BNB) trades above three key support levels: $240.4, $242.0, and $243.3. The bulls found strength at $242.0 and $243.3 price levels, facilitating the sharp spike to $246.065 in the early hours of August 1. The chart demonstrates heated strife between the bulls and the bears as they struggle to prevail over the market. However, the stiff resistance at the $246.5 price level allowed the sellers to trigger a trend reversal. The bears have formed bearish candle sticks above the $243.3 price level and are striving to press the token further below. Related Reading: Weeks of Prosperity: MKR Holders See Wealth Grow By Over 100% Amidst Price Boom BNB is in a critical conjecture as the next few hours determine whether a move to the $250 target is possible. A break above the $246.5 level will facilitate more rallies. Conversely, if the bulls relent, BNB could retrace to the $241.3 level, allowing the bears an opportunity to soar. Featured image from Pixabay and chart from TradingView.com

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