Based

Coin

Since June, trade volume for Binance Coin (BNB) has surged almost 6,000%. Several important events inside the Binance ecosystem that have attracted the interest of both market watchers and investors will help to explain this explosive rise. 
At the time of writing, BNB was trading at $579,<a href="https://www.coingecko.com/" target="_blank" rel="noopener nofollow"> up nearly 3% and 0.9%,</a> respectively, in the 24-hour and weekly frames, data by Coingecko shows. 
The latest ending of the SEC’s probe on Binance’s stablecoin issuer marks one of the most important factors fueling this increase. Putting an end to this investigation has provided much-needed legal clarity, solving long-standing problems that have been hanging over the Binance environment. Binance sees the SEC’s decision as a big win because it will help buyers trust them again. 
<blockquote class="twitter-tweet"> 
 SEC just silently ended the investigation against Binance. 
 CZ is getting out of prison next month and already announced his next 100x project.<a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BNB</a> chain volume dominance is up 6000% since June. 
 You don’t need to be a prophet to see what’s coming<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/wAux9FB5c0" rel="nofollow" target="_blank">pic.twitter.com/wAux9FB5c0</a> 
 — 0xNobler (@CryptoNobler) <a href="https://twitter.com/CryptoNobler/status/1816153141986881558?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">July 24, 2024</a>
</blockquote> 
Complementing the positive vibe, former Binance CEO Changpeng Zhao, popularly known as CZ, is scheduled to be freed from house detention next month. CZ has excited the community with indications of a new enterprise that would provide investors a 100x return. These factors happened simultaneously, producing a perfect storm of hope that accelerated BNB trade to record heights. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-312105" src="https://bitcoinist.com/wp-content/uploads/2024/07/aputaka.jpeg?resize=1024%2C576" alt="" width="1024" height="576" srcset="https://bitcoinist.com/wp-content/uploads/2024/07/aputaka.jpeg?resize=1024%2C576?w=1920 1920w, https://bitcoinist.com/wp-content/uploads/2024/07/aputaka.jpeg?resize=1024%2C576?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/07/aputaka.jpeg?resize=1024%2C576?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/07/aputaka.jpeg?resize=1024%2C576?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/07/aputaka.jpeg?resize=1024%2C576?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/07/aputaka.jpeg?resize=1024%2C576?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/07/aputaka.jpeg?resize=1024%2C576?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
<h2 id="strong-adoption-difficulties-and-strategic-planning-strong">Adoption Difficulties And Strategic Planning</h2> 
Notwithstanding the recent increase in trading activity and encouraging advances, the Binance-backed BNB Chain has come under fire for its acceptance. Market watchers have seen a clear discrepancy between the Binance real support and the marketing plans of the BNB Chain. This imbalance has been blamed as perhaps impeding the expansion and user acceptance of the chain. 
<img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/rbkQbNvM/" width="1835" height="883"> 
If Binance wants the BNB Chain to succeed, it must fix these issues and encourage ecosystem activities. Support for meme coins and other innovative ideas might boost the BNB Chain’s value and attract more users. 
Industry analysts think that overcoming these obstacles will open the BNB Chain great possibilities. Through matching its marketing plans with actual support, Binance can strengthen the credibility of the chain and create a more strong ecosystem, thus promoting more acceptance and use. 
<h2 id="strong-bnb-price-projection-strong">BNB Price Projection</h2> 
In the middle of these events, BNB’s price perspective stays somewhat positive. Based on data by CoinCheckup, an <a href="https://coincheckup.com/coins/binance-coin/predictions" target="_blank" rel="noopener nofollow">upswing is expected</a> in the next seven days, thereby suggesting either a possible reversal or continuation of the present market momentum. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-312096" src="https://bitcoinist.com/wp-content/uploads/2024/07/a_aa3019.png?resize=1024%2C232" alt="" width="1024" height="232" srcset="https://bitcoinist.com/wp-content/uploads/2024/07/a_aa3019.png?resize=1024%2C232?w=1359 1359w, https://bitcoinist.com/wp-content/uploads/2024/07/a_aa3019.png?resize=1024%2C232?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/07/a_aa3019.png?resize=1024%2C232?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/07/a_aa3019.png?resize=1024%2C232?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/07/a_aa3019.png?resize=1024%2C232?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/07/a_aa3019.png?resize=1024%2C232?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
Going forward, the value of BNB has the potential to increase by 62% in the next three months, which is in line with the general positive mood and rising investor trust. Meanwhile, a 60% price rally is also expected in the next 12 months, according to the crypto prediction platform. 
Supported by good market circumstances and the recent encouraging events inside the Binance ecosystem, our optimistic estimates highlight a significant potential trajectory for BNB. Legal obstacles removed and the BNB Chain is now ready for further acceptance positions as Binance sets to expand in the next quarters. 
Featured image from Pixabay, chart from TradingView

Binance Legal Triumph Ignites 6,000% Surge In BNB Trading Volume

Mục lục

Bitcoinist

Các bài viết khác được xuất bản trên 26 thg 7, 2024

WazirX Launches Massive $23M Bounty to Track Down $234M Stolen Assets

Solana’s Celebrity Tokens Down 94%, MOTHER Community Defends The Memecoin

Is government oversight non-negotiable for the future of crypto?

Solana's Solend Rebrands to Save and Launches Dumpy.fun for Shorting Memecoins

Wave 5 Projections for XRP: Could Price Reach $22? Analysts Weigh In

Solana's Price Increased More Than 5% Within 24 hours

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!