MATIC and BNB Witnesses High Trading Volume Among Top Altcoins
- The MATIC price has increased by over 15% since the beginning of the month.
- The BNB price is expected to continue its climb toward the $300 intermediate goal.
Bitcoin (BTC) has been settling around the $30,500 level for some time after a significant gain in the second half of June 2023. The price has been consolidating around these levels, exhibiting compression, throughout July. Moreover, this indicated a breakout is possible in the near future.
On the other hand, Polygon (MATIC) and Binance Coin (BNB) are two altcoins that have shown tremendous growth in popularity recently. Santiment, a famous on-chain platform, reports that as the BTC price continues to drop below $31,000. These tokens are attracting the interest of many traders.
As trading volume fluctuates back to #altcoins, two assets are seeing particularly high interest: $MATIC and $BNB. #Bitcoin continues to tease the $31k level before profits are redistributed to various #crypto assets. Target those under the radar. https://t.co/cAPVcBuLUc pic.twitter.com/5ObVp24WXS
— Santiment (@santimentfeed) July 12, 2023
Bullish Momentum Ahead
Consequently, enormous bullish flags are waving around their values, which may be more potent than the BTC and ETH rises. The price of Polygon (MATIC) has been exhibiting extreme strength for over a month, as it has been consistently making new highs and new lows in its trading range.
The MATIC price has increased by over 15% since the beginning of the month, while most other cryptocurrencies (particularly BTC and ETH) have remained stagnant. It is expected that the price will continue to rise strongly over the next several days, reaching the first aim of $0.8 and then attempting to achieve $0.9, which might then overcome the obstacles to achieving $1.
More importantly, the Binance Coin (BNB) price has maintained a steady trend inside a predefined threshold. The last few days have seen a massive injection of liquidity into the coin, which has increased the purchasing pressure. Since bullish technical persist, the BNB price is expected to continue its moderate climb toward the $300 intermediate goal.
Highlighted Crypto News Today:
Breaking News: 20M MATIC Transferred from Polygon Staking to Unknown Wallet
Read more: https://thenewscrypto.com/matic-and-bnb-witnesses-high-trading-volume-among-top-altcoins/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
