Binance Coin (BNB) attracts new buyers despite regulatory challenges

Binance Coin (BNB) attracts new buyers despite regulatory challenges
фото показано с : invezz.com

2023-12-13 17:17

Binance’s native coin, BNB, displays resilience as the leading exchange navigates regulatory woes, which even extended to football star Cristiano Ronaldo. The altcoin gained more than 10% within the past week.

On-chain indicators suggest continued uptrends for Binance Coin. Metrics show that token could sustain its price gains despite the legal developments against the cryptocurrency exchange.

Open Interest (which shows the asset’s demand) has been soaring over the past month. Santiment indicates that the OP jumped approximately 31% since 12 November.

BNB OI on Santiment

The rising Open Interest shows demand from new market players supported BNB’s latest price upticks.

Further, Binance Coin’s volume spikes matched the token’s price local highs between 12 November and 12 December.

The social dominance generally increases amid price surges. BNB witnessed this several times within the previous six months. The metric remains essential in determining the asset’s relevance among investors. According to Santiment data, Binance Coin’s social dominance maintained uptrends since 5 December 2023.

BNB price ready for bullish breakout

BNB exhibited an upward stance at press time, hovering at $253 following a 3.50% 24-hour increase.

The trading volume surged in the past day, and the altcoin will likely extend its upswings. Experts believe the altcoin will win the legal battles and reocrd robust price surges.

Despite facing legal challenges, #Binance might emerge more resilient. Still, keep an eye on #BinanceCoin as $BNB forms a descending triangle on the weekly chart.

Watch for a close above $260 to confirm a bullish #BNB breakout. Until then, it might be wise to hold steady! pic.twitter.com/Wal9CDRfiP

— Ali (@ali_charts) December 10, 2023

Renowned crypto analyst @Ali Charts trusts a closing beyond $260 could welcome an upside breakout for BNB. Meanwhile, enthusiasts may have “to hold steady” until the altcoin surpasses this area.

The post Binance Coin (BNB) attracts new buyers despite regulatory challenges appeared first on Invezz

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Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Доступно / Всего 0 BNB

regulatory binance coin bnb cristiano ronaldo star

Источник: invezz.com

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