Oh, the drama in the world of cryptocurrency! Binance Coin (BNB) has just overtaken Solana in daily active addresses. With 5.1 million addresses, BNB Chain is now the talk of the town. But what does this mean for BNB’s price? 💸💰
At the time of writing, BNB was prancing around at $637, with a market cap of $90 billion, boasting a 5% increase in 24 hours and nearly 10% weekly gains. Not too shabby, eh?
With more users flocking to the network, demand for the token is likely to increase. And, guess what? Binance’s former CEO, Changpeng Zhao, has hinted at an upcoming upgrade. Could this be the cherry on top of BNB’s splendid sundae? 🍒🍨
DappRadar reports a 42% surge in dApp volumes on BNB Chain in the past 30 days, reaching a whopping $52 billion. Transaction count has also increased by 43% to 21 million. With stablecoin market capitalization and Total Value Locked (TVL) on the rise, the future looks bright for BNB.
On the charts, BNB is showing off its bullish side, with six consecutive days of buying pressure. The token has even flipped resistance at the 200-day Exponential Moving Average (EMA) of $622. But, as always, there’s a catch. The Relative Strength Index (RSI) remains below 50, indicating that more demand is needed to push prices higher.
Despite the positive outlook, the Long/Short Ratio shows mixed sentiment, with long and short traders taking equal positions. Will this result in reduced volatility, or is there more excitement in store for BNB? Only time will tell! ⏳
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2025-02-11 23:04