
BNB Price Analysis: BNB Soars 3.5% as Bulls Take Control
Binance’s BNB token has skyrocketed 3.5% in the past day but is now facing resistances across various simple moving averages and Fib. levels.
Binance’s BNB token has skyrocketed 3.5% in the past day but is now facing resistances across various simple moving averages and Fib. levels.
The airdrop activity on the BNB Chain and the daily active users crossing 1.2 million proved as a catalyst for the BNB price rally to $400.
BNB price has gained about 6.4 percent in the past 24 hours to trade around $262 as the charges filed by the DoJ are believed to be finalized by the end of this month.
BNB Chain confirms that normalcy has now been restored and everything is back to running smoothly.
Binance coin (BNB) is now up over 3688%, 97%, and 38% in the past year, 30 days, and two weeks respectively.
According to a report, there is a 5.3% increase in its holdings with new whales having in possession 100,000 BNB and 1,000,000 BNB.
Shooting 27% BNB price has surged past $600 for the very first time. With the surge, Binance Coin has registered nearly 1300% gains year-to-date beating some of the biggest traditional banking institutions.
The crypto industry has enjoyed new levels of adoption from big traditional firms like Morgan Stanley, Tesla, Meitu, Goldman Sachs, and a host of others that are now opening their platforms for digital assets.
In a bid to offer more incentives to its investors, traders, and global supporters, the Binance exchange has launched a revised version of staking reward for BNB holders.
The last time XRP dropped to that position was in June 2014, when it fell below the meme coin Dogecoin.
The surge in the price of the Binance Coin comes following the drop in the lawsuit filed by the exchange against Forbes and two of its journalists.
The current price of $98 is a bit surprising as analysts used the MVRV method to predict a possible reversal at $76.
The anomaly with the circulating supply of Binance Coin caused a massive $1.5 billion drop in its market cap this week. Binance assures that it has resolved the problem and BNB is back on track.
Binance Coin (BNB) lost $1.5 billion market cap in just 24h. No, there is no witchcraft involved – it all comes down to Binance’s decision on chopping the number of tokens in circulation and CoinMarketCap’s re-evaluation of BNB market cap.
Crypto trader, analyst and enthusiastic blogger takes a look at what hides behind the scenes of Binance Coin’s recent growth, sharing what is expected for the 7th highest ranked coin in the future.