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The enthusiastic Binance Coin (BNB) community, residing in the middle of the cryptocurrency, where volumes have shown massive spikes, joins the rest of the market as it waits on Ethereum (ETH), facing tough scrutiny from the SEC over its proposed ETF. Against such a backdrop, Raffle Coin (RAFF) has come up as a strong player to offer new ground for decentralized raffles.
Binance Coin (BNB) Surges Amidst Record Transaction Fees
The transaction fees have been spiking for Binance Coin (BNB), a surefire sign of very high activity on the Binance Coin (BNB) Chain. On March 9, the aggregate fees within the Layer 1 blockchain network reached an all-time single-day high of $1.2 million, registering an impressive increase of 134% from January 1. The day’s revenues from the Binance Coin (BNB) Chain had correspondingly hit the highest in 2024 at $124,000, evidencing a YTD revenue increase of over 140%.
Despite a decline in user activity since the beginning of the year, Binance Coin’s bullish momentum remains strong. Yet, by January 9, 77% of the total inactive wallets on the Binance Coin (BNB) chain since the beginning of the year were noticed. The value of Binance Coin (BNB) continues to increase. Now trading at $494, Binance Coin (BNB) has risen by 54% over the last month, in which case the coin may be showing growing investor interest.
Ethereum (ETH) ETF Proposal Faces SEC Scrutiny
However, inspection of the proposed Ethereum (ETH) ETF by the US Securities and Exchange Commission (SEC) makes investors concerned. Senior ETF Analyst at Bloomberg, Eric Balchunas, cast doubt on the SEC that hadn’t been speaking with ETF issuers, which was a departure from past patterns seen during Bitcoin ETF approvals.
Balchunas drew his attention to the fact that the correlation between the spot and the future of Ethereum (ETH) ETF is very weak, which might not support any optimistic outlook for the approval of Ethereum (ETH) ETF. But involvement in the process with BlackRock has left optimistic feelings rather cautious, as it would mean more delays by the SEC, eating into some approval chances in May.
The SEC’s recent memo on the proposed rule change by the New York Stock Exchange (NYSE) Arca, with respect to the listing and trading of Grayscale Ethereum (ETH) Trust shares, proposed a holding period of six months before any action is taken. However, there was no discussion of the ETF with the asset managers that might restrain the process.
Raffle Coin (RAFF) Emerges as Promising Investment Opportunity
Raffle Coin (RAFF) offers six presale stages with ample opportunity for the prospective investor, who comes in with locked team tokens and perpetual liquidity. Further flexibility brought about by revenue sharing and instant funding mechanisms, Raffle Coin (RAFF) remains set to experience some exciting growth in this burgeoning crypto space.
Dynamic in its approach with a limited token supply, Raffle Coin (RAFF) becomes a promise for the existing and possible set of investors willing to grow their portfolio in these ever-expanding crypto markets.