Show

Simply

Force

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-show-interest-in-crypto-investment-products-despite-bnb-decline/" data-wpel-link="internal">Investors Show Interest in Crypto Investment Products Despite BNB Decline</a><br></p>
<p class="p1" style="text-align: justify">Unlike the previous period, crypto investment products closed last week with a net positive flow, but <a href="https://en.coin-turk.com/bnb-faces-challenges-despite-recent-gains/" data-wpel-link="internal">Binance Coin</a> (BNB) did not show the same trend. This development raises concerns about the token’s short-term potential and highlights a scenario where BNB’s price might decrease. According to CoinShares’ latest report, crypto asset investment products saw an inflow of $176 million.</p> 
<h2 class="p1" style="text-align: justify" id="what-is-happening-with-bnb">What is Happening with BNB?</h2> 
<p class="p1" style="text-align: justify">This increase indicates that <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> saw the crash on August 5th as an opportunity to accumulate at discounted prices. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) saw significant inflows, while BNB was the only top 5 token to experience outflows. Specifically, Binance Coin recorded a total outflow of $1.2 million. This decline could be linked to BNB’s price movement. During the sudden selling pressure, the token’s value dropped to $404.30, causing panic among investors and spreading doubts about the cryptocurrency’s potential.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-379110 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/flow.webp" alt="" width="1355" height="902"></p> 
<p class="p1" style="text-align: justify">This sentiment sharply contrasts with the optimism seen when BNB reached $701 in June. Currently, the altcoin is trading at $508, marking a 5.06% decline from its recent peak of $535 on August 11th. In addition to the price drop, the BNB ecosystem is experiencing a significant decline in development activity, a crucial metric for assessing the health and valuation of a blockchain network.</p> 
<p class="p1" style="text-align: justify">This <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> whether a project is experiencing growth and smart contract deployment. An increase in development activity indicates that developers are introducing new features that could potentially boost user adoption of the blockchain network.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-379109 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/bnb-veri.webp" alt="" width="2048" height="693"></p> 
<h2 class="p1" style="text-align: justify" id="bnb-chart-analysis">BNB Chart Analysis</h2> 
<p class="p1" style="text-align: justify">According to Bull Bear Power (BBP), bears still determine the direction of BNB. Also known as the Elder Force Index, BBP measures the strength of buyers and sellers by comparing low and high swings with the Exponential Moving Average (EMA). When the BBP reading is positive, bulls are in control, and the price may rise. A negative reading means BNB’s price is likely to fall.</p> 
<p class="p1" style="text-align: justify">Additionally, the token’s price is below the 20-day EMA, as it was a few weeks ago. Simply put, the EMA measures the trend direction over a specific period. If the price is above the indicator, the trend is bullish. Therefore, the current position indicates that BNB is in a downtrend. Assuming this remains the same, BNB’s price could drop to $479.10. However, if bulls regain control from bears, the token’s value could rise to $526.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-379106 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/bnb-grafik.webp" alt="" width="2048" height="1118"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-show-interest-in-crypto-investment-products-despite-bnb-decline/" data-wpel-link="internal">Investors Show Interest in Crypto Investment Products Despite BNB Decline</a></h5>
<p>The post <a href="https://en.coin-turk.com/investors-show-interest-in-crypto-investment-products-despite-bnb-decline/" data-wpel-link="internal">Investors Show Interest in Crypto Investment Products Despite BNB Decline</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Investors Show Interest in Crypto Investment Products Despite BNB Decline

Table of Contents

COINTURK NEWS

Other articles published on Aug 12, 2024

Binance Labs Announces Second Cohort of Season 7 Incubation Program: Aarc, FluxLayer, and Ton Ton...

Binance Hit with $86M Tax Demand by Indian Authorities Over GST Registration

Hong Kong to Tighten Crypto Rules, Aiming to Become Global Fintech Leader

NetMind.AI and io.net Forge Strategic Alliance to Boost AI and ML Capabilities

OKX's Venture Arm and Aptos Foundation Announce $10M Fund to Boost Aptos Ecosystem

Ethereum’s Liquid Staking Protocols Soar with $390M Inflow in 27 Days

Join our free newsletter for daily crypto updates!