Binance Coin Price Prediction – Can BNB Coin Become The Biggest Crypto?
The crypto markets have been in freefall for the past 24 hours following the revelation that FTX may be suffering from liquidity problems.
In what has culminated in a possible acquisition of FTX Exchange by Binance, market participants still seem spooked by recent events as the deal is yet to be set in stone.
At the time of writing, BNB is trading at $300, down 7% in the last day. Notably, however, the coin is performing much better than most other coins in the market, which are down double-digit percentage points in 24 hours. Can BNB become the biggest coin? Read on to find out more.
BNB Price Prediction
BNB’s technical characteristics have so far held up relatively well compared to the rest of the market. BNB is trading at $300, down 7% on the day, with 24-hour trading volume exceeding $6.5 billion.
This number is higher than usual, but somewhat unsurprising given the recent events that have occurred. With the potential for Binance to acquire one of its closest competitors, market participants seem excited about the future prospects of the BNB coin.
When the news was first announced that Binance was looking at buying FTX, BNB rallied significantly to just under $400. However, the price then began to decline in line with the broader crypto markets as it became clear that a deal was not yet set in stone.
BNB is now trading just above its 36, 50 and 200-day moving averages (yellow, orange and green), which have provided solid support so far. BNB is also now consolidating at a level that has previously held up well and led to significant increases in the past.
If more positive news comes out regarding the FTX drama, BNB has a real chance to continue its steady rise from the June lows.
The Relative Strength Index (blue) is now in the neutral zone, and also indicates the market’s wait-and-see mood.
There are probably significant amounts of liquidity waiting for BNB at the $250 level, which is a round, psychological level.
BNB may have to revise these levels before they can continue their rise to new highs. If the exchange is able to play its cards right, it has a real chance to become the best crypto coin in the world, sometime in the future.
These other coins provide faster returns
BNB is a well-established coin with a huge market cap, which means it will take a long time for it to generate significant returns for its investors.
One of the more promising sources of good returns (even during the bear market) is new coins holding the presale.
For example, Tamadoge (TAMA) rose by as much as 1,800% (compared to its pre-sale price) in October, following a high-profile listing on the major stock exchange OKX.
This gives an indication of what the most promising new altcoins can do once listed. Here is a selection of new altcoins with strong fundamentals that are holding their respective token sales right now.
Dash 2 Trade (D2T)
Dash 2 Trade is an Ethereum-based trading intelligence platform that provides investors with real-time signals and analytical data, helping them make more informed decisions. The token sale began three weeks ago and has now raised well over 5.7 million dollars.
It also announced recently its first CEX listing on the LBank Exchange.
The token is currently selling at $0.0513, but this price will increase to $0.0533 in the next phase of the presale.
Visit Dash 2 Shop Now
IMPT
Also running on Ethereum, IMPT is a carbon credit marketplace where users can earn and trade NFT-based carbon offsets by trading with a wide range of eco-friendly retailers.
Its tokenization of carbon credits aims to bring greater transparency to the carbon credit market, making it easier to see exactly when credits have been traded and withdrawn.
IMPT’s pre-sale now has raised $12.5 million just a few weeks after launch, with 1 IMPT currently on sale for $0.023.
The price will then rise to $0.0280 in the next phase of the presale, meaning early investors have the chance to make significant profits when it finally goes public.
Visit IMPT now
Calvary (RIA)
Calvaria (RIA) is a new money-making game that allows players to earn rewards and battle with NFT-based trading cards. What sets it apart from other blockchain-based games is that it allows users to play without having to hold any cryptocurrency.
The RIA token can be used to purchase in-game items and for wagering, which means that the price can rise significantly as the platform becomes more popular.
1 USDT will currently buy you 40 RIA tokens, but the price will increase as the presale continues.
With more than $1.6 million raised, the future looks bright for the platform.
Visit Calvaria now
