BNB token trails other top coins, but the recent pump helps return to the medium.
BNB Price Surpasses $300
BNB token broke the $300 mark on January 14 for the first time in over a month, marking the first time in 2023.
Following a recent market pump that saw bitcoin push past $21,000, BNB token has risen over 13% in the last seven days, according to CoinMarketCap. The token reached a high of $314 on January 14 before hitting price resistance and barely sustaining above $300. The market capitalization for BNB remains firmly in the Top 5 among all cryptos, just under $50 billion.
BNB’s price action trails the price pumps by other major cryptocurrencies. Bitcoin, Ethereum, Polygon (MATIC), and Cardano (ADA), all pumped over 20%. Solana notably pushed back into the Top 10 by market cap for a brief time on January 14 as $SOL pumped over 70% back above $21.
The current bullish trend across the crypto industry is a welcoming sign for 2023 as well as for the bags of investors, some are even predicting that the current green candles and arrows will maintain for a few weeks.
Bullish signs in the market are mounting: $70 billion was pumped into bitcoin between Jan. 7-14, and an alt-run could potentially be in the works. Other interesting signs are that famous talking heads like Jim Cramer and Mark Cuban are souring on crypto–and where there is FUD, there is often opportunity.
What is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Source : bsc.news
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