Key notes
- BNB percentage overvoltage in the past 24 hours has raised that of BTC, ETH and XRP.
- The volume of trading soar for BNB, but Bitcoin and other altcoins see a hindsight.
- The deposit of Vaneck BNB ETF could be the ultimate trigger for the current Binance currency rally.
Binance Coin (BNB) managed to reach a three -month summit, supported by the positive feeling of the market, presented by several measures. The BNB chain records an increasing institutional adoption, an improvement in decentralized financial activity (DEFI) and an increase in transactions. The contributions of these measures placed the BNB above Bitcoin (BTC), Ethereum (ETH) and XRP in daily earnings today.
The BNB price and the trading volume beats BTC, ETH and XRP
BNB exchanged $ 659.06 at the time of the press, corresponding to an increase of 4.36% in 24 hours. In the past seven days, the medal recorded a More than 10% price.
Although this price action can be awarded to the wider rebound in the cryptography market, in particular with the overtaking of Bitcoin beyond $ 103,000, record activities of the BNB channel ecosystem remain a crucial contributor.
Compared to BNB, BTC recorded only a price rally of 0.94% in the same period and is now negotiated at $ 103,841.10. ETH is not better, with only an increase of 2.86% and a current market value of $ 2,411. The current price of the ETH is a remarkable increase for a part with difficulties which allowed the level of support of $ 1,800. However, he is always underperforming compared to BNB.
The feeling around XRP is quite positive, the piece with bullish resilience. According to CoinmarketCap data, the crypto associated with Ripple is now negotiated at $ 2.39, after a price gain of 1.44% in the last 24 hours. On the daily graphic, BNB recorded more gains than the three best pieces.
BNB Daily price that. Source: CoinmarketCap
Regarding the volume of negotiation, traders show more interaction with BNB than with one of the three other aforementioned cryptographic assets. The BNB trading volume jumped 13.39% higher in the last 24 hours, while BTC, ETH and XRP have seen their commercial volume drop by 34.39%, 42.04% and 25.04%, respectively.
The Vaneck ETF catalyst
During the last month, the BNB channel experienced remarkable growth in user engagement, especially double of its active addresses at more than 2 million. In addition, network transactions have increased, reaching 8 million people. Most of this increased network activity is the result of the frenzy that followed the deposit of the Vaneck BNB Exchange negotiated fund (ETF).
The best asset management company has submitted the Form S-1 registration statement For his BNB ETF. The deposit for the fund was the first of its kind in the United States. The fund aims to provide exposure to BNB in a regulated framework, much as it did before with the Bitcoin et Etfs, launched last year. Vaneck’s initial movement was Save the BNB ETF folder in Delaware.
It should be noted that this ETF ranking helped put BNB on an optimistic track, its price regularly winning. Like many other networks, the BNB channel records an institutional adoption and an increasing challenge activity. In addition, Standard Charted wrote,
“The BNB channel remains a more concentrated and old-fashioned intelligent and old-fashioned intelligent contract platform than rivals like Ethereum and Solana. But this structure offers a degree of stability, which can be attractive in volatile macroeconomic conditions. ”
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Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
