Increased BNB Chain Activity Supports 11% Upside, But Can BNB Surpass $300?

BNB Chain saw A slight increase In deposits And activity, but East THE costs momentum sustainable?

Altcoin Watch Join We on social networks

Binance Piece of money, THE native token of B.S.C. Chain (BNB) took A different direction Since THE wider cryptocurrency walk on Dec. 26 by surging 11% has reach It is The highest level In six month. Although BNB initially struggle has to break THE $300 resistance, THE rally with success farm THE walk capitalization gap open by Solana (FLOOR).

BNB token/USD Attached price hint, 4 hours. Source: Trading View & Cointelegraph

Before Dec. 23, BNB detained THE position of THE third largest cryptocurrency (excluding stable coins). However, GROUND impressive 50% earnings on Seven days amended that. THE question NOW East if BNB can maintain A walk cap exceeding $46 billion has reconquer It is third place. Both B.S.C. Chain And Solana, despite their decentralization merits, offer fast And profitable blockchains that don't do it exclusively rely on on layer-2 scaling solutions.

A significant portion of BNB tokens value come Since reduced trade costs And exclusive launching ramp offers And services Since Binance. Investors initially feared that THE exchange would be lose walk share quickly After It is founder, Chang Peng 'CZ' Zhao, pleaded guilty has WE. Federal charges on November 21. However, This was not THE case, has less until THE trial concludes And Binance East required has report all professions has A watch dog designated by THE Justice Department. Furthermore, Binance recent engagement with THE WE. Merchandise Futures contracts Trade Commission (CFTC) on Dec. 18 further decreases THE risk of regulatory stop.

Nevertheless, BNB faces sale pressure due has THE significant concentration of ownership among Binance founders And team. THE lack of transparency concerning THE initial distribution of BNB tokens uh...