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You are here: Home / Archives for Binance Coin (BNB)

Binance Coin (BNB)

Binance Coin [BNB] Plummets Below $400 As Bears Make An Entrance

April 8, 2021 by Sahana Kiran

The ongoing trend in the crypto market proves the extreme volatility of the crypto industry. Earlier today, Binance coin [BNB], Ethereum [ETH], XRP and several other coins were seem recording new all-time highs, however, during the time of writing, the entire crypto market was on a downtrend. The global market cap followed suit as it was dropped to $1.87 trillion.

At the time of writing, the Binance coin dipped down $375. A few hours ago, the BNB community was celebrating the altcoin’s surge to an all-time high of $414.36, however, a 5.99% drop in the last 24-hours pushed the coin below $400. Nevertheless, the altcoin managed to record profits of over 25% in the last seven days. The market cap of the asset was noted at $57.9 billion and despite a small blip, the altcoin continued residing as the third-largest cryptocurrency.

Binance Coin [BNB] One-Hour Price Chart

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After witnessing a drastic surge above $400, BNB recorded a massive fall. The altcoin on its short-term price chart was seen harboring the bears. The Parabolic SAR indicator was noted exhibiting a bearish sentiment as the dotted lines were over the candlesticks, further limiting the chances of the altcoin’s chances of upward breakout. The Awesome Oscillator indicator formed red closing bars and announced the presence of the bears.

The Relative Strength Index indicator was down by the sellers’ arena. These signs further suggested that the altcoin would possibly continue its stay below $400 for a while.

Binance Coin [BNB] One-Day Price Chart

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The one-day price chart of BNB, however, had the bulls in its market. The MACD line remained over the signal line forming a bullish crossover. The Chaikin Money Flow indicator was above zero median which was considered bullish. The Money Flow Index indicator pointed out that the altcoin was being overbought.

While this bullish momentum could provide fuel to BNB’s journey back to $400, the bears in its short-term chart could slow this process.

Filed Under: News, Altcoin News, Market Analysis Tagged With: Binance Coin (BNB)

Binance Coin [BNB] Will Soon Zoom Past $100

April 4, 2021 by Sahana Kiran

The overall crypto market cap had hit a high of $1.36 trillion and Bitcoin [BTC], Binance Coin [BNB], Polkadot [DOT], Cardano [ADA] along with an array of currencies were seen aiding this journey. Thanks to Elon Musk, the price of Bitcoin almost hit a high of $48K. While the king coin is retraced to $46,534, at press time, all the other assets were seen on an uptrend. Ethereum [ETH], however, was seen failing at its attempts to hit $2K. ADA as well as DOT had flipped XRP in terms of market cap. For the first time in a long time, XRP was seen at the sixth position with a market cap of $20.89 billion.

Binance Coin [BNB] had climbed up the crypto ladder and found a spot as the seventh largest cryptocurrency. The market cap of the altcoin was at $14.55 billion. BNB was trading for a high of $94.77, during press time. Binance’s native asset had surged up to a high of $96.44. While the crypto community laid out speculations of the asset hitting $100, the BNB market seemed to be following the same trail.

Binance Coin [BNB] One-Hour Price Chart

Binance Coin

The short-term price chart of BNB had bulls grazing in its market. The volume in the market was quite high. The Parabolic SAR indicator had formed dotted lines below the candlesticks which demented the chances of the altcoin enduring any immediate crashes. The MACD indicator prolonged the bullish crossover it had undergone yesterday. The disparity between the MACD line and signal line limited the chances of a bearish crossover. The Money Flow Index [MFI] indicator revealed that the asset was in the overbought zone.

Binance Coin [BNB] One-Day Price Chart

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The one-day price chart of BNB suggested that the asset was in for a major change in its price. The Bollinger Bands indicator was wide apart which indicated a potential surge in the volatility. The Chaikin Money Flow indicator was above zero which pointed out a bullish momentum in the BNB market. A buyers’ sentiment was intact, the Relative Strength Index [RSI] affirmed.

Filed Under: News, Altcoin News, Market Analysis Tagged With: Binance Coin (BNB)

Binance Coin [BNB]: Bears Could Drag Price Near $200

March 26, 2021 by Chayanika Deka

Binance Coin, BNB, entered a consolidation mode after derailing from its massive run above $340. However, it was one of the best-performing crypto-asset in recent weeks and was now the fourth-largest by market cap in the leaderboard.

Despite this, it was turned down after the formation of a local top in the first week of March. Since then, Binance Coin has failed to make a major breakthrough and was down by 10.78% over the past seven days.

Currently, BNB was trading at $245.83 after a decline of 5.37% over the last 24-hours. At the time of writing, the crypto-asset recorded a market cap of $37.8 billion and a 24-hour trading volume of $2.51 billion.

Binance Coin [BNB] Daily Price Chart:

BNB

After noting an exponential growth within the first three months of 2021, Binance Coin cool down within the tight range of $190-$295. As opposed to the depreciating price candles, the moving averages appeared to be slopping upwards at a rapid pace.

Currently, both the 50 DMA [Pink] as well as the 100 DMA [Blue] formed crucial support points for BNB’s price action. However, if it continues this trend against the declining price of the crypto-asset, a major fall appears to be inevitable.

Technicals Align With The Bears

BNB2

Volatility in the market has reduced, but, as depicted by the above chart, the technicals for Binance Coin’s near-term price momentum does not look promising.

The dotted markers of Parabolic SAR, for instance, continued to hover above the candlestick arrangement and resisted an upward push and target highs. This suggested a bearish phase for the crypto-asset

The MACD also deeper into the bearish realm and no signs of a positive reversal was seen depicting BNB’s falling demand.

The RSI has also been falling in consistent with the token’s price movement and was currently close to the 50-median line. This indicated that the sell-pressure has intensified in the market which could potentially pull the price further down.

If the price turns down from the nearest resistance of $269, it will indicate that the market participants are booking profits on surges. At this stage, the bears will attempt to capitalize on this weakness and sink the price below the 50 DMA. BNB could potentially test immediate support level of $225 and $210. A failure hold the latter could further drag the price to $126.

Filed Under: Altcoin News, News Tagged With: Binance Coin (BNB)

Binance Coin [BNB] To Seek Respite Before A Potential Downfall

March 19, 2021 by Sahana Kiran

The crypto industry has been exerting extreme volatility. Cardano [ADA], Binance coin [BNB], Bitcoin [BTC], Litecoin [LTC] were among the few coins that were drowning in the red sea. Cardano [ADA], despite gaining profits throughout the week, was seen dropping by 11.89% in the last 24-hours. Nevertheless, the asset managed to retain itself above $1. The global market cap was noted at $1.79 trillion with BTC accounting for about $1.09 trillion.

Binance coin managed to turn heads with both its price as well as its market cap. The asset endured quite a journey from $65 to $265. BNB even zoomed up the crypto ladder and currently stands as the third-largest cryptocurrency. During press time, BNB’s market cap was noted at $41.09 billion. At the time of writing, BNB was trading for $265.71 with a 3.35% drop in its price over the last 24-hours.

Binance Coin [BNB] One-Hour Price Chart

Binance coin

The downtrend that BNB was enduring could be changed, alerted the bulls in its market. The Parabolic SAR indicator formed a bullish pattern below the candlesticks. This line could act as a great form of support as it might retain BNB over $250 for quite a while. The Awesome Oscillator indicator, after an array of red bars, had finally rolled out green closing bars. The bullish sentiment in the altcoin’s short-term price chart could act as a stairway to $280.

The Relative Strength Index announced a buyers’ sentiment as the marker was over 50 median.

Binance Coin [BNB] One-Day Price Chart

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A bearish momentum was seen in the one-day price chart of BNB. The Bollinger Bands were converging during this time. This could further be beneficial for the asset considering the limited volatility BNB would be dealing with amidst the bearish market. The MACD line remained below the signal line since the beginning of the month. The MACD indicator with a bearish crossover affirmed that BNB could encounter a downfall.

The Money Flow Index indicator revealed that the altcoin was close to being overbought.

Filed Under: News, Altcoin News, Market Analysis Tagged With: Binance Coin (BNB)

Binance Coin [BNB] Cuts Its Stay Short In The Bullish Realm

March 17, 2021 by Sahana Kiran

The entire crypto market was seen taking a vacation with the bulls, Binance coin [BNB], Ethereum [ETH], and several other coins were noted bagging dainty gains. However, XRP was seen taking a long ride with the bulls with an 11% surge in the last 24-hours. The global crypto market cap was on the rise as it was recorded at $1.70 trillion. Bitcoin [BTC] was retracing after hitting an all-time high of $61,683. While Bitcoin dominated the scene by 60.8%, Ethereum was overlooking the market by 12.1%.

At the time of writing, the Binance coin [BNB] was trading for $255.82. The asset gathered onlookers as the altcoin surged to a high of $342.88. However, it failed to retain its stay over $300. The altcoin had even climbed up the crypto ladder. BNB was seen standing as the third-largest cryptocurrency with a market cap of $39.22 billion.

Binance Coin [BNB] One-Hour Price Chart

Binance coin

The short-term price chart of BNB was seen dancing with the bulls. The Parabolic SAR indicator had laid out dotted lines below the candlesticks further negating the possibility of a downward breakout. This could protect the coin from slumping down below $200. The Chaikin Money Flow indicator suggested a bullish momentum as the CMF marker was over zero.

The Money Flow Index was over 50 median which pointed out a buyers’ market.

Binance Coin [BNB] One-Day Price Chart

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The one-day price chart of the altcoin was down by the bearish arena. The Bollinger Bands indicator was close to each other which indicated limited volatility. The MACD line remained over the signal line which is considered a bearish crossover. This further affirmed that the limited volatility could be profitable for the coin weighing the bears in the market. The Relative Strength Index indicator was seen in the buyers’ zone despite, the bears in the market.

Furthermore, this could diminish the chances of BNB surging over $300 anytime soon.

Filed Under: News, Altcoin News, Market Analysis Tagged With: Binance Coin (BNB)

Binance Coin [BNB] To Confront The Bears On The Path Towards $300

March 11, 2021 by Sahana Kiran

All the crypto assets were seen trying to recover all the gains they had lost at the beginning of this month. Both, Binance coin’s [BNB] price and market cap had receded over the last couple of days. BNB, similar to other coins was on its way to redemption.

Binance coin, during the time of writing, was trading for a high of $281.63 with a dainty change of 0.50%. Earlier this week, the altcoin endured and rose up to $296.66, however, this was staggered by the bears in its market. Over the last seven days, BNB scored gains of up to 16.62%. While ADA had heralded BNB with regard to market cap, the latter was quick enough to garner its spot back as the third-largest cryptocurrency.

Binance Coin [BNB] One-Hour Price Chart

Binance coin

BNB’s multiple efforts to move past $300 have been exhausted. A strong line of resistance at $290.5 could be negating the chances of the altcoin resurging to its previous all-time high. Two lines of support were also noted in the short-term price chart of BNB at $269.4 as well as $229.3.

The Chaikin Money Flow indicator navigated its way back over zero affirming the presence of bulls in the market. The Awesome Oscillator played along as it laid out green closing bars. A sellers’ sentiment was, however, notified by the Money Flow Index indicator.

Binance Coin [BNB] One-Day Price Chart

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The bears were still in its market announced the indicators used in the one-day price chart of BNB. The Parabolic SAR indicator went on to put forth dotted lines over the candlesticks, this further diminished the likelihood of an upward breakout. The MACD line and the signal line were quite close to each other, yet they had undergone a bearish crossover. The Relative Strength Index indicator was existing in the buyers’ arena.

While the short-term chart called for a ticket to $300, the long-term price chart of the altcoin was exhibiting difficulty in moving to its all-time high.

Filed Under: News, Altcoin News, Market Analysis Tagged With: Binance Coin (BNB)

Binance Coin [BNB] Accommodates The Bulls For The Time Being

March 4, 2021 by Sahana Kiran

Binance coin [BNB] was one coin that remained untethered by the bears in the market for a long time. Unfortunately, the asset had to succumb to the bears. While all the assets were trying to recover from the latest carnage, BNB was seen taking it slow. The altcoin was trading for $249.45, during the time of writing, with a dainty change in its price over the last 24-hours. In terms of market cap, BNB did see impeccable growth. However, Cardano [ADA] took over the altcoin as the third largest coin. At press time, BNB was standing as the fourth largest cryptocurrency with a market cap of $38.67 billion.

Meanwhile, all the other assets were seen trying to get rid of the bears from their respective markets. Bitcoin had finally moved past $50K and was trading at $52,000.86 with a 6.47% surge in the last 24-hours. Almost all the altcoins were seen mirroring a similar trend.

Binance Coin [BNB] One-Hour Price Chart

Binance Coin

Things looked positive for BNB on its short-term price chart. The altcoin was seen harboring the bulls after a long stay of the bears. The Parabolic SAR indicator formed a bullish pattern below the candlesticks hindering any sudden breakouts in the downward direction. The MACD indicator went in for a bullish crossover, earlier today and retained it. The Relative Strength Index indicator was seen in the buyers’ zone.

Binance Coin [BNB] One-Day Price Chart

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Amidst a bearish market, BNB managed to score an all-time high of $342. But, the asset endured a major pullback back into $200. The Bollinger Bands indicator used in the one-day price chart of Binance coin was seen wide apart further implying the possibility of an increase in volatility. But the bands were seen prepping for a convergence which could mean that this volatility could be limited.

The Awesome Oscillator formed an array of red closing bars which suggested that the bears had taken over the BNB market. The Money Flow Index, however, pointed out that a buyers’ sentiment was intact in the market.

Filed Under: News, Altcoin News, Market Analysis Tagged With: Binance Coin (BNB)

Binance Coin [BNB] Records A Slump In Terms Of Both Price And Market Cap

February 28, 2021 by Sahana Kiran

Changpeng Zhao’s Binance Coin [BNB] was residing under the crypto spotlight throughout the month. However, the latest crash in the market caused the asset to record a massive drop.

While all the other coins were enduring a crash, Cardano [ADA] was the only asset that was witnessing a surge. The asset recorded massive gains over the last couple of days further urging it to hit an all-time high of $1.46. Bitcoin [BTC], was undergoing a massive setback as it was trading at a low of $46,984 with a 15.84% downfall in the last 24-hours. All the other coins in the market followed a similar trend.

Binance coin [BNB], during the time of writing, was seen trading for $227.90. This coin came down to this number from its all-time high of $342.88. The 22.99% drop in the last seven days seems to have pushed the altcoin to its latest numbers. The asset turned heads after it surged up the crypto ladder all the way to the third position. However, the coin was recently overhauled by ADA as its market cap rose to $43.49 billion.

Binance Coin [BNB] One-Hour Price Chart

Binance Coin

The short-term price chart of BNB was seen exhibiting a bullish sentiment. The Parabolic SAR indicator restored some hope in the BNB market by laying out dotted lines below the candlesticks. While this line stood as a support for the altcoin, the chances of a drop in its price could be highly unlikely. The MACD indicator went in for a bullish crossover, with the MACD line over the signal line. The Relative Strength Index indicator was revealing a buyers’ sentiment as it was over 50 median.

Binance Coin [BNB] One-Day Price Chart

download 29 1

The Awesome Oscillator indicator on the one-day price chart of BNB was forming red closing bars further intimating a bearish momentum. The Chaikin Money Flow indicator was over zero which suggested that the bulls were still in its market. The Money Flow Index also exhibited a buyers’ sentiment.

Filed Under: News, Altcoin News Tagged With: Binance Coin (BNB)

Binance Coin [BNB] To Endure Short-Term Slumps Before Taking On Long-Term Gains

February 24, 2021 by Sahana Kiran

The crypto-market was seen painted red as prominent cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], Binance coin [BNB], and several others were plummeting. Bitcoin slipped down by almost 9% in the last 24-hours. However, during press time, the king coin was seen getting back into the $50K zone. Ethereum, followed by XRP, Litecoin [LTC], Chainlink [LINK] as well as Bitcoin Cash [BCH] were experiencing a drop of over 10% in the last 24-hours. All the gains acquired by the assets, over the course of these last couple of months seemed to be going to waste.

Binance Coin [BNB], had transpired to become one of the most promising assets. The altcoin climbed up the crypto ladder not only in terms of price but also with regard to market cap. However, the latest crash caused the asset to drop by over 11% in the last 24-hours. At the time of writing, BNB was trading for $221.44 after it surged up to an all-time high of $342.88. The market cap of BNB also took a hit as Tether took over the position as the third-largest coin, while BNB dropped to fourth place.

Binance Coin [BNB] One-Hour Price Chart

Binance Coin

The short-term price chart of BNB revealed that the bears were in its market. The Parabolic SAR indicator was seen constructing dotted lines above the candlesticks which posed as a strong line of resistance which further blocked any possible uptrend. The MACD indicator was seen embodying a bearish crossover, which again suggested that BNB could witness a drop in its price. The short-term price chart of BNB was seen exerting a sellers’ sentiment, the Money Flow Index affirmed.

Binance Coin [BNB] One-Day Price Chart

download 5 1

The one-day price chart of BNB announced that the bulls were still in its market. The Bollinger bands indicator with diverging bands pointed out that the asset was heading for an increase in its volatility. The Awesome Oscillator indicator formed green closing bars and suggested that the bulls were in its market. The Relative Strength Index [RSI] revealed that the asset was still exercising a buyer’s notion.

Filed Under: News, Altcoin News Tagged With: Binance Coin (BNB)

Binance Smart Chain Transactions Are Now Over 2x Ethereum’s

February 21, 2021 by Chayanika Deka

Binance Smart Chain is on a roll.

Binance’s blockchain for developing decentralized applications [DApps] has proved to be one of its top runners. In the latest development, Binance Smart Chain’s [BSC] daily transactions have not just exceeded that of Ethereum’s but are now more than 2x than the latter.

This was revealed in the latest edition of the Binance Weekly Report. It also stated that BSC has processed 3.2 million transactions as of 19th Feb. This makes the total figure stood at nearly 250% more than the 1.3 million transactions on Ethereum

Defi

In addition, the total value locked [TVL] on Binance Smart Chain has neared an astonishing $11 billion. Interestingly, the TVL figures on its projects have doubled in a span of a week, from $4.69 billion to $10.84 billion, according to Defistation’s latest charts.

Binance Smart Chain Stats

chart

The unique addresses on the Binance Smart Chain have surged by more than 270% in the last seven days alone. The monumental rise, as depicted by the above chart, is undoubtedly in response to the high Ethereum transaction fees which continue to be expensive as the network works at a 98% capacity.

This, in turn, has led investors to onboard the BSC train seeking a more efficient alternative with high yields at low fees.

chart 1

With a quick scan of the above chart, it was found that that the average Gas price on the BSC network was around 16.75 Gwei as of 20th Feb as opposed to 201 Gwei on Ethereum

The fact that the workings of the Binance Smart Chain are fairly similar to that of Ethereum has given the blockchain a massive edge. Devs need not worry about transaction fees and focus more on innovating. All this while leveraging the existing developer tooling they are familiar with in the ETH ecosystem.

BNB Steals the Show

20210221 binance coin charts coinmarketcap

Binance Coin [BNB] not only surpassed several crypto-assets but also toppled the world’s largest stablecoin USDT. Despite a minor retracement, the exchange token was still up by 103.27% over the last week and was trading at 103.27%.

While macroeconomic factors like the prices of Bitcoin and Ethereum reaching all-time highs has catapulted BNB’s value, there are other things at play as well.

But BNB is reaping rewards from the newfound attention on Binance Smart Chain whose impressive activity reflected the rising demand for DeFi products on the cheap.

Filed Under: DeFi, News Tagged With: Binance, Binance Coin (BNB), binance smart chain, Decentralized Applications, Ethereum (ETH)

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