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Why Did BNB Price Surge Past $300?
Why is BNB Price Up Today? Read CoinChapter.com on Google News
YEREVAN (CoinChapter.com) — BNB, the flagship token of the Binance exchange, is rallying. In 24 hours, the token’s price surged nearly 15%, going from around $262 on Dec. 25 to $301 the following day. The rally comes against the backdrop of the announcement about the launch of Sleepless AI on Binance Launchpool. Moreover, the company also published its bullish roadmap for 2024, boosting the BNB price further.
However, the rally also saw short-term traders pulling out profits, pushing the BNB price slightly down. The token trades at $295 at the time of writing, according to charts from the portfolio management app CoinStats.
Weekly BNB price chart. Source: CoinStats
The BNB token’s total market capitalization currently stands at over $45 billion. Ranked 5th on the chart, it sits below Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Solana (SOL).
Sleepless AI comes to Binance Launchpad
The upcoming launch of Sleepless AI on the Binance Launchpad has positively impacted investor sentiment. The company announced that the Web3+AI gaming platform will be the 42nd project on Binance Launchpool.
Following its launch on Dec. 28, Binance traders will have a seven-day window to farm Sleepless AI tokens by staking BNB, FDUSD, and TUSD.
Binance’s Tweet announcing the upcoming launch of Sleepless AI. Source: X
After that, Binance will list the Sleepless AI token on its platform on Jan. 04, 2024. The token will be available through various trading pairs such as AI/BTC, AI/USDT, AI/BNB, AI/FDUSD, AI/TUSD, and AI/TRY.
BNB price rallies despite Binance legal problems
The latest BNB price surge comes as a surprise to many market observers. Binance has lately been going through legal troubles with regulators and authorities.
Last month, Binance founder Changpeng Zhao (CZ) pleaded guilty to charges related to violating US Anti-Money Laundering (AML) laws. As a result of the subsequent agreement with the United States Department of Justice (DOJ), CZ agreed to step down as the company’s CEO. In addition, he committed to paying $4.3 billion from the firm as part of the settlement and a $50 million personal fine.
Moreover, days later, Binance.US, his firm’s US operations, removed him as the Chair of its Board of Directors. He currently awaits sentencing in early 2024, where he could face jail time anywhere between 18 months to 10 years.
The developments came as a massive blow to the world’s largest exchange in daily volumes. Many experts opined that the downfall of Binance had begun. Some even questioned the leadership skills of Richard Teng, who took over as the CEO of Binance after CZ’s resignation. Former SEC official John Reed Stark even insisted that Binance’s eventual collapse is now inevitable.
Moreover, the Philippines’ Securities and Exchange Commission (SEC) warned Binance about its unlicensed operations. The exchange also faces several problems in many other countries, including Canada and the UK. In addition, it was forced to cease operations in many countries of the European Union (EU) region.
BNB breaks out from Falling Wedge pattern
Despite the legal troubles, charts from TradingView show that the BNB price has broken out of the falling wedge pattern that was persistent since late 2021. This indicates that investors are not abandoning the token.
Chart showing the BNB price in a breakout from the falling wedge pattern: Each candle represents one week: Source: TradingView
Although there are a couple of resistance price points that BNB will have to overcome, any major rally could take it back to the $650 mark. That would translate to around a 120% surge from its current price.
The surge in activity in the crypto industry has also automatically impacted BNB price. Given the daily transaction volumes of the exchange, the token is vital for the ecosystem, thus benefiting from the overall surge.
The post Why Did BNB Price Surge Past $300? appeared first on CoinChapter.
YEREVAN (CoinChapter.com) — BNB, the flagship token of the Binance exchange, is rallying. In 24 hours, the token’s price surged nearly 15%, going from around $262 on Dec. 25 to $301 the following day. The rally comes against the backdrop of the announcement about the launch of Sleepless AI on Binance Launchpool. Moreover, the company also published its bullish roadmap for 2024, boosting the BNB price further.
However, the rally also saw short-term traders pulling out profits, pushing the BNB price slightly down. The token trades at $295 at the time of writing, according to charts from the portfolio management app CoinStats.
Weekly BNB price chart. Source: CoinStats
The BNB token’s total market capitalization currently stands at over $45 billion. Ranked 5th on the chart, it sits below Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Solana (SOL).
Sleepless AI comes to Binance Launchpad
The upcoming launch of Sleepless AI on the Binance Launchpad has positively impacted investor sentiment. The company announced that the Web3+AI gaming platform will be the 42nd project on Binance Launchpool.
Following its launch on Dec. 28, Binance traders will have a seven-day window to farm Sleepless AI tokens by staking BNB, FDUSD, and TUSD.
Binance’s Tweet announcing the upcoming launch of Sleepless AI. Source: X
After that, Binance will list the Sleepless AI token on its platform on Jan. 04, 2024. The token will be available through various trading pairs such as AI/BTC, AI/USDT, AI/BNB, AI/FDUSD, AI/TUSD, and AI/TRY.
BNB price rallies despite Binance legal problems
The latest BNB price surge comes as a surprise to many market observers. Binance has lately been going through legal troubles with regulators and authorities.
Last month, Binance founder Changpeng Zhao (CZ) pleaded guilty to charges related to violating US Anti-Money Laundering (AML) laws. As a result of the subsequent agreement with the United States Department of Justice (DOJ), CZ agreed to step down as the company’s CEO. In addition, he committed to paying $4.3 billion from the firm as part of the settlement and a $50 million personal fine.
Moreover, days later, Binance.US, his firm’s US operations, removed him as the Chair of its Board of Directors. He currently awaits sentencing in early 2024, where he could face jail time anywhere between 18 months to 10 years.
The developments came as a massive blow to the world’s largest exchange in daily volumes. Many experts opined that the downfall of Binance had begun. Some even questioned the leadership skills of Richard Teng, who took over as the CEO of Binance after CZ’s resignation. Former SEC official John Reed Stark even insisted that Binance’s eventual collapse is now inevitable.
Moreover, the Philippines’ Securities and Exchange Commission (SEC) warned Binance about its unlicensed operations. The exchange also faces several problems in many other countries, including Canada and the UK. In addition, it was forced to cease operations in many countries of the European Union (EU) region.
BNB breaks out from Falling Wedge pattern
Despite the legal troubles, charts from TradingView show that the BNB price has broken out of the falling wedge pattern that was persistent since late 2021. This indicates that investors are not abandoning the token.
Chart showing the BNB price in a breakout from the falling wedge pattern: Each candle represents one week: Source: TradingView
Although there are a couple of resistance price points that BNB will have to overcome, any major rally could take it back to the $650 mark. That would translate to around a 120% surge from its current price.
The surge in activity in the crypto industry has also automatically impacted BNB price. Given the daily transaction volumes of the exchange, the token is vital for the ecosystem, thus benefiting from the overall surge.
The post Why Did BNB Price Surge Past $300? appeared first on CoinChapter.
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Market Marker is still silently accumulating $ARB , few people seem to realize that $ARB is in the stage of re-accumulation before pushing up the price 😶🌫️😶🌫️
In the past 24 hours,#Amberhas accumulated 2,999,991 $ARB = 3,499,989$ from #Binance
In the past 1 month,#Amberhas accumulated a total of 4,899,984 $ARB = 5,059,983$ and they are holding 13,863,861 $ARB = 15,804,802$
The interesting thing is that these wallets are all #Amber's hidden wallets used to collect goods to avoid being detected by trackers
As in the previous article, I also analyzed the main price driver $ARB , #Wintermute, which is in the re-accumulation phase and the accumulation of#Amberalso shows us this signal more clearly.
#Wintermuteand#Ambernot only accumulate $ARB but they also continuously accumulate a large amount of $OP , why do you think MM is accumulating layer 2 at the present time 🤔 #Arbitrum #arb #Layer2 #BTC🔥🔥 #BitcoinETF
In the past 24 hours,#Amberhas accumulated 2,999,991 $ARB = 3,499,989$ from #Binance
In the past 1 month,#Amberhas accumulated a total of 4,899,984 $ARB = 5,059,983$ and they are holding 13,863,861 $ARB = 15,804,802$
The interesting thing is that these wallets are all #Amber's hidden wallets used to collect goods to avoid being detected by trackers
As in the previous article, I also analyzed the main price driver $ARB , #Wintermute, which is in the re-accumulation phase and the accumulation of#Amberalso shows us this signal more clearly.
#Wintermuteand#Ambernot only accumulate $ARB but they also continuously accumulate a large amount of $OP , why do you think MM is accumulating layer 2 at the present time 🤔 #Arbitrum #arb #Layer2 #BTC🔥🔥 #BitcoinETF
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Conditions to have mini Altcoin season? Actually, I don't know if it's mini or big, but I'll wait to see if I can bring money home to my mother._.
The simplest is BTC sideway + BTC dom down. However, for me, I will wait for 2 more things:
- TOTAL3 increased: This is a chart showing the capitalization of all Altcoins excluding BTC and ETH
- USDT Dom Declines: This is a chart showing the capitalization rate of USDT compared to the entire crypto market
Currently, the charts above are quite beautiful, supporting an increase in Altcoin. How strong it is is unknown because the candles have not yet been completely confirmed. However, no matter what, the goods have arrived, I will still hold on to this batch without closing :D At least until February 2024 if there are no unexpected developments.
#BTC🔥🔥 #altcoinseason #Altcoin
The simplest is BTC sideway + BTC dom down. However, for me, I will wait for 2 more things:
- TOTAL3 increased: This is a chart showing the capitalization of all Altcoins excluding BTC and ETH
- USDT Dom Declines: This is a chart showing the capitalization rate of USDT compared to the entire crypto market
Currently, the charts above are quite beautiful, supporting an increase in Altcoin. How strong it is is unknown because the candles have not yet been completely confirmed. However, no matter what, the goods have arrived, I will still hold on to this batch without closing :D At least until February 2024 if there are no unexpected developments.
#BTC🔥🔥 #altcoinseason #Altcoin
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X25 times with BONK Meme project
In the past time, if everyone was confident with this BONK project, by now they would have increased their accounts over 20 times. With BONK, RIC Capital called from 0.0000005.
About meme coin BONK is developed on the Solana ecosystem. According to records, in the past week BONK has grown strongly by up to 150%, surpassing the growth of Dogecoin, Shiba Inu, Pepe or Floki Inu, finally reaching the highest ATH level ever.
This price fluctuation has pushed BONK to become the third memecoin by market capitalization after Dogecoin and Shiba Inu.
There are many reasons for this growth, the biggest reason is BONK being listed on Kucoin and Binance exchanges. In addition, the positive attention of SOLANA in recent times is also a catalyst for BONK's outstanding growth.
#btctoday #Trader #Bonk #memecoin #BTC🔥🔥
In the past time, if everyone was confident with this BONK project, by now they would have increased their accounts over 20 times. With BONK, RIC Capital called from 0.0000005.
About meme coin BONK is developed on the Solana ecosystem. According to records, in the past week BONK has grown strongly by up to 150%, surpassing the growth of Dogecoin, Shiba Inu, Pepe or Floki Inu, finally reaching the highest ATH level ever.
This price fluctuation has pushed BONK to become the third memecoin by market capitalization after Dogecoin and Shiba Inu.
There are many reasons for this growth, the biggest reason is BONK being listed on Kucoin and Binance exchanges. In addition, the positive attention of SOLANA in recent times is also a catalyst for BONK's outstanding growth.
#btctoday #Trader #Bonk #memecoin #BTC🔥🔥
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