- BNB and TON declined by over 3% in the previous trading session.
The assets have seen an increase in the current trading session.
As an experienced analyst, I have closely observed the recent price movements of Binance Coin (BNB) and Toncoin (TON). While both assets saw gains during the weekend, they began the new week by declining significantly. According to data from CryptoRank, BNB dropped by 3.79%, while TON followed closely with a decline of 3.69%.
Over the weekend, I observed a favorable closing trend among the leading cryptocurrencies such as Bitcoin [BTC] and other notable assets like Binance Coin [BNB] and Toncoin [TON]. These digital currencies recorded impressive gains during this period.
Despite the upward trend continuing throughout the previous week, the beginning of the new week introduced a downturn. Consequently, the positive gains were erased, causing these assets to plummet instead.
Binance and Toncoin start the week in red
As a crypto investor, I’ve noticed that every coin in my top-10 portfolio experienced losses according to recent data from CryptoRank. Among them, Binance Coin (BNB) and The Open Network (TON) suffered the most significant setbacks.
BNB saw a decrease of 3.79%, while TON followed closely with a decline of 3.69%.
How Binance has trended
The recent price movements of BNB on a daily time frame indicated significant volatility.
Beginning on the 3rd of July, BNB underwent a succession of decreases. The first decline amounted to 4%, causing its price to around $556.
On the second day, the downward trend worsened significantly, with a decrease exceeding 7%. By the 5th of July, BNB‘s price experienced another drop of around 3%.
By the end of these successive declines, BNB’s price had fallen to around $498.
Afterward, BNB‘s price showed signs of improvement, surging more than 5% and momentarily returning to the $500 mark.
Despite the initial increase, BNB‘s progress wasn’t sustained. By the beginning of the new week on July 7th, its value had dropped by 6.73%, resulting in a price around $490.
At the time of this writing, BNB was trading at around $500, with a modest increase of 2%.
Towards the close of the trading day, it remained uncertain whether the observed market upturn was a legitimate comeback or merely a fleeting sign of recovery.
How Toncoin has trended
As a researcher studying the cryptocurrency market trends, I’ve observed significant volatility in the daily price trend of Toncoin, which aligns with the fluctuations seen in Binance Coin. According to AMBCrypto’s analysis, this correlation is noteworthy.
On the 3rd of July, TON‘s price experienced a decrease of approximately 2.73%, dropping to around $7.8. However, the most substantial decline took place on the 4th of July, causing a sharp drop of over 9.7%. As a result, the price fell to roughly $7.1.
Although there had been decreases prior to this, Toncoin experienced a brief bounce-back by the 6th of July, registering a close to 5% growth in value that week, and was being traded around $7.5.
Read Toncoin’s [TON] Price Prediction 2024-25
As a crypto investor, I’ve seen my portfolio take a hit at the beginning of this week. After enjoying some gains and seeing the price of my crypto asset climb up to around $8, it unfortunately took a turn for the worse. The market shifted, causing a nearly 7% decline that dragged the price back down to approximately $7 once again.
Based on the most recent information, I observe that Toncoin is currently priced around $7.1 in the market, experiencing a slight gain of more than 1%.
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2024-07-08 17:11