BNB is a token of the platform Binance. Its current price is around $278.08 by the time of writing, with a low of $184.54, and it has a market cap of 44 billion dollars.
What is BNB?
BNB is the coin of the Binance platform, which is around $278.08 by the time of writing, with a low of $184.54. It reached a high of $669.35, and its current ranking is #5, according to CoinMarketCap, with a market cap of 44 billion dollars. BNB is a cryptocurrency that can be traded and used to pay fees on the Binance exchange.
BNB Coin Market Analysis
BNB has a total supply of 161,337,261 coins worth around $278.08 with a market volume of 967 million dollars, whereas the market capitalization is 44 billion dollars at writing. For a cryptocurrency beginner, this choice can be rather difficult.
Binance Coin has quickly become one of the most popular cryptocurrencies. Therefore many crypto enthusiasts are looking to buy Binance Coin and can participate in the more lucrative trading activities on a better exchange.
Binance plans to upgrade its blockchain next year to be able to process 5,000-10 000 transactions per second. It has become the largest smart-contract chain in terms of user base and transaction volume, surpassing even the more well-known Ethereum.
Recent announcements by Binance have indicated that they have been developing a separate blockchain to offload transactions to process them faster. This is due to the complexity of the technology and how successfully it can be deployed.
BNB Price Prediction
On the 4H timeframe, the price action of $BNB/USDT is consolidated inside the descending channel. Currently, the price is moving below the resistance trendline and above the strong demand zone. However, we must wait for a successful breakout or breakdown to confirm its next direction.
Closing Thoughts
Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
