Name Price24H (%)
Bitcoin (BTC)
$47,865.00
-4.46%
Ethereum (ETH)
$1,523.40
-4.63%
XRP (XRP)
$0.446137
-4.59%
Litecoin (LTC)
$178.91
-0.87%
Binance Coin Explodes 45% on Heels of Bitcoin Bull Run; What...
Binance Coin, News

Binance Coin Explodes 45% on Heels of Bitcoin Bull Run; What’s Next



Binance Binance Coin, BNB, BNBUSD, BNBBTC, BNBUSDT, cryptocurrency

Binance Coin has climbed close to 3,000 percent from its last year's mid-March nadir. Source: BNBUSD on TradingView.com

The Binance Bitcoin’s sell-off was modest, that did not stop BNB from climbing further into the Wednesday and Thursday sessions.

Because Fundamentals

Binance Binance Coin, BNB, BNBUSD, BNBBTC, BNBUSDT, cryptocurrency

Binance Smart Chain transactions climb. Source: BscScan.com
Binance Smart Chain transactions climb. Source: BscScan.com

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It appears that many traders speculated a drop in BSC’s Gwei fees coupled with its booming network load as a cue for further BNB adoption. Earlier in the month, rising Ethereum fees assisted many of its rivaling blockchain projects to establish record peaks. That includes Cardano, Avalanche, and Polkadot.

On the other hand, Binance Binance’s investments in promising blockchain projects, including Polkadot-based Plasm Network.

What’s Next for Binance Binance Coin, BNB, BNBUSD, BNBBTC, BNBUSDT, cryptocurrency
Binance Coin [almost] hits the Triangle breakout target. Source: BNBUSD on TradingView.com

BNB/USD currently looks extremely overbought, with its Relative Strength Indicator’s reading above 70. That typically prompts an asset to correct lower or consolidate sideways until the RSI neutralizes to below 70. Should it happen, the BNB/USD rate risks falling towards the 20-4H moving average (green).

Conversely, a trend continuation could take Binance

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