Binance has launched a $1 billion blockchain fund, primarily BNB and PancakeSwap (THE CAKE) many Binance Smart Chain projects, especially, have started making upward price movements.
With the Announcement of the Fund, BNB Is on the Attack
Binance’s announcement of the $1 billion fund caused investors to turn their eyes to Binance Smart Chain projects. The largest cryptocurrency exchange in terms of trading volume is Binance’s crypto currency Binance Coin, it recorded sharp upward price movements within a 24-hour time frame. At the same time, it is 3rd again, surpassing Cardano (ADA) in terms of market value. it managed to become the largest crypto currency.
CoinMarketCap according to its data, BNB has started trading at $456 price levels, along with an average 5% upward movement it has started from $435 levels since the news was announced. Many analysts have stated that it is very critical for the altcoin to break the resistance at the 500 dollar level in order to perform a high price performance in a possible uptrend period.
Santiment, which offers a crypto data tracking service, has already detected an increase in the amount of BNB in wallets holding millions of dollars worth of digital assets. According to the allegations Binance Coin its whales have received 412,000 BNB units in the last two weeks, adding about 9% to their assets.
The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.