BNB price (Binance Coin) has been in the green lane for quite some time and besides, it leads the crypto market scene in terms of market capitalization. Moreover, BNB is also registering a 6% gain every week.
- Binance Coin Sees 6% Weekly Rise
- BNB development boosts investor interest
- BNB Shows Social Metrics for Stunting
BNB is also tagged as one of the top 5 cryptocurrencies as far as search volume is concerned. While the coin outperformed other cryptocurrencies, BNB plunged 1.6% compared to his Sept. 25 data, trading at around $275.42.
Clearly, BNB was able to enter the cut of the top cryptocurrencies that showed bullish moves when paired with BTC. The development of Binance Coin has aroused investor interest and positively impacted BNB’s on-chain indicators.
BNB Price Rise Nearly 3%
according to coin market capitalization, the BNB price has increased by 2.98% or is trading at $275 at the time of this writing. According to TradingView data, it currently has a market capitalization of $43.5 billion.
BNB’s trading volume is stable, limiting the potential for price declines. His MVRV ratio in BNB is said to have increased compared to last week’s figures. This suggests a possible uptrend in the next few days.
Meanwhile, some of BNB’s on-chain metrics point to negative sentiment, such as a drop in unique active wallet addresses, which suggests a drop in user activity on the Binance Coin network.
Additionally, BNB’s social volume has also decreased, indicating a significant drop in investor interest.
Binance Coin volatility levels have also plummeted, preventing the coin from rising further.BNB’s daily chart shows a bullish streak along with various market indicators validating a possible uptrend .
BNB RSI, CMF Show Possible Uptrend
Moreover, the Bollinger Bands show that the price of Binance Coin is in the overbought zone, increasing the chances of a breach. His RSI and CMF on Binance Coin show a potential rally over the next few days.
So far, the MACD stats show that the bulls are stronger than ever after a fierce tug-of-war.
Many cryptocurrency experts and analysts are optimistic about the future of BNB. Technologist Joseph Raczynski believes that BNB has a tendency to skyrocket.
Futurists are bullish on BNB, largely due to the fact that Binance is getting bigger every day. There is none.
BNB total market cap at $43.5 billion on the daily chart | Source: TradingView.com Featured image from AAX Academy, Chart: TradingView.com
Chart looks good for traders – greener on the plate?
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