Mondays Crypto Leaderboard: BNB And XRP Surge Past Market Leaders

In a significant development, two of the top 10 cryptocurrencies on the market, Binance Coin (BNB) and XRP, have emerged as the outperformers this Monday, overshadowing the gains of industry leaders Bitcoin (BTC) and Ethereum (ETH). XRP Price Analysis XRP, the token associated with the blockchain company Ripple, has taken the lead among the top [...]

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BNB Chain TVL Slumps 24% In Q2, Yet Vital Metrics Surge In Double Digits

The BNB Smart Chain (BSC) experienced a mixed performance in the second quarter (Q2) of the year as the broader cryptocurrency market cooled off after a strong price surge in March. While BNB, the native token of the BSC, remained mostly flat, down 5% quarter-over-quarter (QoQ), the network’s key metrics showed both positive and negative [...]

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Binance Secures Approval To Invest US Customer Fiat Funds In US T-Bills, BNB Price Surges

Binance has received court approval allowing it to invest customer fiat funds into US Treasury Bills (T-Bills) after a year of heightened scrutiny of Binance’s operations in the United States. The decision has resulted in a notable price recovery for the exchange’s native token, Binance Coin (BNB), pushing it toward the $600 level.  Court Grants [...]

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BNB Extremely Bullish: Analyst Targets $1000 Breakout As It Hits New Yearly High

Binance Coin (BNB), the native token of the worlds largest cryptocurrency exchange, has experienced a notable surge of 7% within the past 24 hours.  This upward movement reflects the overall positive trend in the market and places BNB ahead of the top five cryptocurrencies in terms of performance. Interestingly, an important milestone has been achieved as [...]

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Floki Inu (FLOKI) Skyrockets 15% To Reach New All-Time High, Riding The BNB Uptrend

Floki Inu (FLOKI), the dog-themed meme coin, has recently achieved a significant milestone by reaching an all-time high (ATH) amidst Binance Coin’s (BNB) upward trajectory.  With a 15% surge in the past 24 hours, FLOKI reached a record price of $0.0003491, solidifying its position as the largest meme coin on the BNB Chain. Floki Inu Receives Major Boost As DFW Labs Invests $12M This surge comes as Web3 investor and crypto market maker DFW Labs announced a substantial investment of $12 million in FLOKI tokens to support the Floki ecosystem.  The purchase involved acquiring a portion of the tokens from the market and the remainder from the Floki treasury. Notably, DWF Labs purchased $10 million worth of FLOKI tokens in March, which also triggered a significant price surge of over 30%, propelling the token to a nine-month high then. The partnership between Floki and DWF Labs was initially established in May 2023 when DWF Labs purchased $5 million worth of FLOKI tokens. Since then, DWF Labs has been crucial in boosting FLOKI adoption. Related Reading: Shiba Inu Burn Rate Flatlines With 99% Crash, End Of The Road For SHIB? In addition, further developments are on the horizon for Floki, as they plan to release the mainnet version of their flagship utility product, the Valhalla metaverse game, later this year.  Moreover, the team is set to launch several key utility products, including the Floki Trading Bot and the Floki Decentralized Domain Name and Website Service. These upcoming releases have garnered significant attention from investors, resulting in increased buying pressure and a rise in token holders. The protocol boasts a notable milestone, with FLOKI recently surpassing 417,400 holders on the BNB chain. The protocols development team declared that Floki remains the dominant meme coin on the BNB chain, boasting a substantially larger market capitalization than all other BNB chain memecoins combined. Price Correction Temporarily Impacts FLOKI’s Uptrend According to CoinGecko data, FLOKI’s market capitalization is currently at a substantial $3 billion, nearly doubling compared to its market cap in May, which was $1.7 billion. Furthermore, FLOKI’s daily trading volume has surged by 164% in the past 24 hours, amounting to $1.2 billion, highlighting the token’s market attention from investors and its prevailing bullish sentiment. Despite these positive developments, Floki Inu has experienced a price correction of approximately 8% within a matter of hours. It is currently trading at $0.0003164. The next nearest support level for the token is $0.0002985. Related Reading: Crypto Expert Reveals Top 3 Trades To Take Now While there is a clear path for further growth, Floki Inu faces the challenge of investor decision-making on profit-taking and selling, which could potentially impact the token’s short-term uptrend.  In such a scenario, a consolidation at current levels would be crucial in maintaining gains and facilitating the resumption of the uptrend once the buying trend resumes. Meanwhile, BNB is trading slightly below its ATH, experiencing a 1.5% decline in the last hour and currently valued at $699. Featured image from DALL-E, chart from TradingView.com

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Crypto Analyst Predicts 800% Rally To $6,000 For BNB, Heres The Timeline

BNB has been one of the best performers coming out of the long and drawn-out bear market of 2022. Even now, the altcoin continues to show a lot of strength, suggesting that its run is far from over. According to one crypto analyst, this expected run for the BNB price could last longer and drive the price higher than expected, predicting an over 800% increase in price from here. BNB Showing Strength On The Monthly Chart A pseudonymous crypt analyst who goes by the moniker Without Worries on the TradingView website has shared an interesting outlook for the BNB price. The analysis uses the BNB monthly chart, showing that the altcoin remains bullish even after rallying over 150% in the last year already. Related Reading: Dogecoin Price Prediction: Analyst Forecasts Meteoric 21,700% Rise To $17, Heres When Without Worries points out that the BNB price action looks to be in a legacy uptrend channel. Now, channels like these are rare because it means that the altcoin has been in this uptrend channel since it launched. To put this in perspective, the crypto analyst points out that altcoins like Litecoin is one of the ones which has failed to maintain a legacy uptrend channel. Furthermore, the analyst points out that the BNB price is currently seeing its third test of resistance at the time that the initial analysis was posted, which was on June 3. This third resistance test comes after three years of consolidation. However, this time around, its looking more bullish for the altcoin following the resistance test. One major factor driving the bullishness around BNB is the fact that the Stochastic RSI had crossed above 80. This is important because the last time that this had happened was back in May 2020, just before the coin went into a full-blown rally. This is the same situation as today. Stochastic RSI remains with momentum for 182 days. Should history repeat, momentum continues until August / September, the analyst stated. Price Breaks Out Of Resistance In a follow-up post, crypto analyst Without Worries revealed that the BNB price has now successfully broken out of the third resistance. Now, going back to the initial analysis, Without Worries points out that such a situation would trigger a massive breakout for the BNB price. Related Reading: Ripples 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds The top of the target for the BNB price is placed at $6,000, which is a more than 800% increase in price from here. The bull flag pattern confirms a breakout AND support. A measured move from the flagpole of the last resistance breakout takes price action to $6000, the analyst said. As for the timeframe for when this will happen, the crypto analyst expects the rally to fully play out sometime in September. This means around 16 weeks or a little less than four months from now. If the analysis is correct, then BNB is just getting started. Featured image created with Dall.E, chart from Tradingview.com

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End Of The Road For BNB After 200% Surge? Mounting Resistance Threatens Rally

BNB, the native cryptocurrency of the BSC network, has undoubtedly been one of the winning altcoins scene the bull market began. The price has been able to go from around $200 to over $600 in the space of a year, notching over 200% gains in the process. However, it seems that this outperformance by the [...]

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BNB Smart Chain Shines In Q1: Triple-Digit Surges In Key Metrics

The Binance Smart Chain (BNB Chain), developed by the worlds largest cryptocurrency exchange by trading volume, Binance, experienced significant growth and performance in the first quarter (Q1) of 2024.  As highlighted in a recent report by Messari, Binance Smart Chain has surged in market cap, revenue, average daily active addresses, decentralized finance (DeFi), total value [...]

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BNB Price Soars As Binance Smart Chain Implements BEP 336 Upgrade, Inspired By Ethereums Dencun

Binance Smart Chain (BSC), commonly known as BNB Chain, has announced the BEP 336 upgrade, inspired by Ethereums Dencun upgrade (EIP 4844), which aims to optimize data storage and processing on the blockchain. The upgrade is expected to significantly reduce transaction costs, improve network performance, and drive the price of Binance Coin (BNB) towards its [...]

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BNB Chain Announces Sidechains Similar to Polkadot’s Parachains

Binance Chain (BNB Chain) will have its own sidechains. The sidechains will cater to more application-specific uses while increasing the ...

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Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High?

BNB, the native token of the Binance Smart Chain, experienced a drop on Friday, showing a huge red candlestick after opening at around $305 and moving downward toward $297.93. This downward move began with a rejection at $312.53 on Wednesday, thereby creating resistance at the same level. At the time of writing, the price still [...]

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Aave Joins Binances BNB Chain Ecosystem Heres How Users Benefit

In a significant development for the Binance Smart Chain (BSC) ecosystem, Aave (AAVE), one of the largest decentralized finance (DeFi) market protocols, has announced its integration with BNB Smart Chain. Aave joins prominent projects such as Uniswap, Ambit Finance, PancakeSwap, and Lista DAO. BNB Chain Welcomes Aave According to the announcement, this latest development opens [...]

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Binance Sets New Record: Spot Trading Volume Reaches $427 Billion

According to a recent CoinGecko report, Binance, the world’s largest centralized exchange (CEX) by trading volume, has retained its market leadership position in 2023.  Despite facing increased regulatory scrutiny and undergoing significant leadership changes, Binance maintained a market share of 43.7% and saw its spot trading volume rise to $427.1 billion in December 2023, representing a 37.5% month-on-month (MoM) increase. Binance Trading Volume Reached $3.8 Trillion In 2023 According to CoinGecko’s report, Binance started the year with a commanding 63.5% market share but experienced a gradual decline throughout 2023, ending with a 43.7% market share in December.  While Binance still dominated the market with 52.6% of the total spot trading volume in 2023, the exchange’s relative market share decline was notable. In absolute terms, Binance generated $3.8 trillion in trading volume throughout the year. Related Reading: Analyst Compared Solana To Ethereum ICO Boom, What Does This Mean For SOL Price? As previously reported, Binance faced significant regulatory pressure throughout 2023, culminating in a settlement agreement in November that required the exchange to pay a $4.3 billion fine to the Department of Justice (DOJ) and the Commodity Futures Trading Commission (CTFC) for alleged financial breaches.  As part of the settlement, Binance’s CEO, Changpeng Zhao (CZ), also agreed to step down. Richard Teng has assumed the role of the company’s head, while CZ remains restricted from traveling outside the jurisdiction of the United States as the legal battle unfolds.  Upbit And OKX Follow Closely Upbit, South Korea’s largest cryptocurrency exchange, managed to maintain its position as the second-largest centralized exchange in 2023, with a 9.5% market share and $687.0 billion in spot trading volume for the year. According to the report, Upbit benefited from the Kimchi Premium, which resulted in strong local demand and premium prices for crypto assets.  The exchange’s monthly spot trading volume hit a yearly high of $90.7 billion in December, with a 93.5% quarter-on-quarter (QoQ) increase. Related Reading: Shiba Inu Prints Rare Bullish Signal, Eyes This Price Target Conversely, OKX secured the third position among centralized exchanges in 2023, with a 6.7% market share and $485.9 billion in trading volume. Throughout the year, OKX experienced a steady increase in market share, starting at 5.1% in January and ending at 8.9% in December. The exchange’s trading volume in Q4 reached $177.9 billion, reflecting a notable 151.6% QoQ gain. Among the top 10 centralized exchanges, CoinGecko reports that MEXC recorded the highest growth in Q4 2023, with trading volume surging by 203.7% to $90.4 billion.  Bybit followed closely with a growth rate of 162.1% ($107.5 billion), while KuCoin experienced a growth rate of 161.2% ($49.2 billion). KuCoin regained its spot in the Top 10 in Q4 after briefly losing it in Q3, with a market share of 3.3% at the end of December. Binance Coin (BNB) has successfully maintained its position above the $300 threshold, with the current trading price standing at $304. This represents a 1.8% decrease in price over the past 24 hours. Featured image from Shutterstock, chart from TradingView.com

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BNB Surges 18% To Hit Record High Close To $800: Is Further Growth On The Horizon?

Binance Coin (BNB), the native cryptocurrency of the Binance blockchain, has officially entered a new price discovery phase, recently reaching an all-time high of $774 late Tuesday.  This significant milestone reflects a broader trend in the cryptocurrency market, where attention has shifted from Bitcoin (BTC) to altcoins like BNB and XRP, both of which have [...]

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Binance Market Dominance Plunges: A Deep Dive Into The 36% Share Drop

According to a recent report by Bloomberg, Binance, the world’s largest cryptocurrency exchange by trading volume, is facing significant challenges as its market share continues to decline.  In September, Binance’s share of trading volume in the roughly $2 trillion digital asset market fell to 36.6%, down sharply from 42.7% at the start of the year [...]

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