Brothers, BNB Chain's fundamentals have become more and more stable recently, and use cases other than DeFi have begun to gain significant support. BNB has a great chance of reaching $600! There are many powerful driving forces behind this:
1. Binance’s upcoming Launchpad incentives;
2. Zhao Chang’s new product to be released;
3. BNB Chain’s application scenarios are no longer limited to DeFi, and there are more and more use cases!
From September 11 to September 13, the price of BNB soared by 7% and broke through $550. This is far ahead of the growth of other altcoins. Although BNB has not been able to stand at $600 in the past few months, it now has a greater chance of becoming the third largest cryptocurrency.
Not only is the news strong, but the 1-hour chart shows that BNB has confirmed three support and resistance swaps above the strong resistance level of 550, and the price has started to rise again. There is no sign of exhaustion for the bulls, indicating that it is very likely to continue to hit the important target of $600. It should be noted that before reaching $600, there is a certain resistance near $679. If it can break through $679, then the price reaching $600 is basically a foregone conclusion.
Another piece of news! Zhao Changpeng was released on September 29, which is one of the reasons behind the rise in BNB prices. The upcoming Hamster Kombat and Catizen Launchpad projects have injected new vitality into BNB Chain.
The activity on BNB Chain is also increasing, especially in projects other than DeFi. On-chain applications such as Cellula, StarryNift, and QORPO World have begun to demand a large amount of BNB payment processing fees. According to DappRadar data, the transaction volume of BNB Chain decentralized applications increased by 12% in the past week, while the transaction volume of Ethereum decreased by 23% during the same period. This is the gap!
Other active projects include PancakeSwap and Avalon Finance, especially the Web3 gaming platform Balance, which has exceeded 87,350 active addresses, and GombleGames has accumulated 19,170 active addresses. The strong performance and activity of BNB Chain in this wave are the key factors supporting the rise in BNB prices.
Overall, both the news and technical aspects indicate that BNB is accumulating strength to hit $600, and breaking through the resistance level of 579 will be a key node. With CZ releasing new products and Launchpad incentives, it will depend on whether BNB can successfully reach $600! Hold on, brothers, don't miss the opportunity!
