On Sep 19, 2024, 16:46 PM(UTC). According to Binance Market Data, BNB has crossed the 570 USDT benchmark and is now trading at 570.299988 USDT, with a narrowed 5.51% increase in 24 hours.

BNB price rises 5% in 24 hours, up 13.5% over 14 days.

Futures traders show bearish sentiment despite price increases.

Technical analysis suggests a potential rally to $592.30, with $637.80 as next target.

Binance Coin (BNB) finds itself at a critical juncture as it approaches the coveted $600 price mark, a level unseen for several months. The cryptocurrency’s recent surge in demand has ignited optimism among holders, suggesting that this milestone could be within reach sooner than anticipated.

However, a curious divergence has emerged between spot market performance and futures trader sentiment, adding complexity to BNB’s near-term outlook.

BNB’s price has experienced a notable 3% uptick in the past 24 hours, aligning with the broader cryptocurrency market’s positive response to the U.S. Federal Reserve’s first interest rate cut since March 2020.

This recent gain contributes to an impressive 14% price increase over the last 14 days, with BNB currently trading at $567. Despite this bullish price action, futures traders appear skeptical about the sustainability of the rally.

BNB remains in negative territory

Data from Santiment reveals that BNB’s funding rate has remained in negative territory for three consecutive days, currently registering at -0.001%. This metric, crucial for aligning futures contracts with spot prices, indicates a prevalence of short positions among traders.

The negative funding rate suggests a short-term bearish outlook in the derivatives market, contrasting sharply with BNB’s spot price performance.

Source:  Santiment

Interestingly, BNB’s price appreciation has triggered a wave of short liquidations, totaling $1.3 million since September 16, according to Coinglass. These liquidations occur when traders betting on price declines are forced to close their positions at a loss, potentially adding fuel to the upward price movement through forced buying.

From a technical perspective, BNB’s Moving Average Convergence Divergence (MACD) indicator paints a bullish picture. The MACD line’s position above both the signal line and zero line suggests strong upward momentum and the potential for continued price appreciation.

This technical setup aligns with the positive spot market performance, despite the bearish sentiment in the futures market.

Looking ahead, if buying pressure persists, BNB could potentially rally towards the $592.30 resistance level. A successful breach of this threshold could pave the way for a push towards $637.80, representing a major milestone in BNB’s recovery.  

BNB repeatedly fails to flip $575-$619 resistance block into support.

Technical indicators suggest waning bullish momentum.

Price could retreat to $550 after failing to sustain above $580.

Binance Coin (BNB) finds itself at a critical juncture as it grapples with a formidable resistance block between $575 and $619. This price range has consistently thwarted BNB’s attempts to establish a firm foothold above it, with only one successful breach to date.

The persistent nature of this resistance zone has become a significant impediment to BNB’s upward trajectory, challenging the cryptocurrency’s ability to maintain sustained bullish momentum.

The broader macro momentum for BNB presents a mixed picture, with technical indicators offering conflicting signals. The Moving Average Convergence Divergence (MACD), a key momentum indicator, suggests a gradual erosion of bullish strength.

While BNB appears poised to overcome the $550 resistance level, the $580 threshold looms as a more formidable obstacle.

Recent price action indicates that even if BNB manages to breach $580, sustaining gains above this level may prove challenging.

Historical patterns suggest that the cryptocurrency often struggles to maintain its position above this threshold, potentially setting the stage for another round of consolidation or retracement.

Source:  Coinglass BNB market sentiment turns bearish

Market sentiment surrounding BNB has taken a decidedly bearish turn, as evidenced by notably negative funding rates. Traders appear more pessimistic about BNB’s prospects than at any point in the past two weeks.

This shift in sentiment likely stems from the repeated failure to decisively break through key resistance levels, prompting many market participants to position themselves for an anticipated price decline.

The prevailing bearish sentiment creates additional headwinds for BNB’s price appreciation efforts. With a significant portion of traders already anticipating a reversal, building the necessary momentum to overcome established resistance levels becomes increasingly challenging. This dynamic further complicates BNB’s path to the psychologically significant $600 mark.

Binance coin is expected to test the $550 resistance in the near term. However, as it approaches the critical $575 to $619 resistance block, the likelihood of a sustained breakthrough appears limited. The current bullish momentum may prove insufficient to propel the coin beyond this zone, potentially triggering a reversal.

On Sep 19, 2024, 12:06 PM(UTC). According to Binance Market Data, BNB has crossed the 560 USDT benchmark and is now trading at 563.099976 USDT, with a narrowed 4.28% increase in 24 hours.

Monero’s privacy features have driven a 13% price increase, while Binance Coin is struggling to hold its support level, creating uncertainty about its future. Both assets are experiencing volatility, leading to ongoing speculation.

On the other hand, BlockDAG has been on the rise, raising over $73 million during its presale. This growth comes after major developments, including partnerships with top European soccer clubs and insights from CEO Anthony Turner during a recent AMA. One of the main takeaways from the AMA was the potential for a 10x boost in mining efficiency by combining BlockDAG’s X1 and X10 miners. Additionally, market experts are suggesting a 30,000x ROI for early adopters over time.

BNB Price Forecast: Can It Stay Above $500?

BNB has been struggling to hold its position above the key $500 support level. After failing to break through the $540 resistance, its price dropped below $520 and reached a low of $496. Right now, BNB is stabilizing, with immediate resistance around $518 and $522, which is the 61.8% Fibonacci retracement level from its recent drop.

If BNB manages to break through these resistance points, it could climb to $535 or even $550. However, if it fails to hold the $500 support, we could see it fall to $488, and if the decline continues, it might even test the $465 level.

Monero (XMR) Price Rises 13%

Despite a generally weak market, Monero (XMR) has seen a 13% increase in the past week, standing out as a strong performer. With a market cap of $3.2 billion, Monero’s growth is driven by its focus on privacy and increasing utility.

Currently trading between $170 and $174, Monero has the potential to break through $190 soon, which could give bulls a strong push toward the $200 level. However, if it fails to keep up this momentum, the price could drop back to $164.

Blending BlockDAG’s X1 & X10 for a 10x Boost

BlockDAG, a leading Layer 1 blockchain, has raised $73 million in its presale, with $4.8 million coming from miner sales. Recent sponsorship deals with European soccer clubs and insights from the latest AMA with CEO Anthony Turner have boosted confidence, with a $1 price forecast for the BDAG coin by early 2025.

During the AMA, Turner shared a key strategy for increasing mining rewards: pairing the X10 and X1 miner rigs for a 10x efficiency boost. “Pairing X10 with X1 miners gives you a massive boost of 10 times,” he said, highlighting a big advantage for miners.

The X1 miner, available on the Google Play Store and Apple App Store, can generate up to 20 BDAG coins daily using just Wi-Fi. The X10 miner, designed for higher performance, can mine up to 200 BDAG coins daily with only 40 watts of power.

By combining the ease of the X1 with the power of the X10, miners can potentially mint thousands of BDAG coins daily. This creates a huge opportunity for miners to maximize their earnings, especially as BlockDAG’s presale continues to grow.

With BDAG expected to reach $1 in the future and currently priced at just $0.0178, mining BDAG coins now could lead to significant passive income. Also, market projections indicate a potential 30,000x ROI for early adopters in the future.

In a Nutshell

BNB’s price outlook depends on whether it can hold its current support level, while Monero’s privacy focus has driven its recent rise in a tough market. Meanwhile, BlockDAG is quickly gaining momentum, raising over $73 million in its presale and with a strong $1 price forecast.

The recent AMA highlighted the big potential of combining the X1 and X10 miners, which can boost mining efficiency by 10x. This gives miners a big advantage, especially as BlockDAG continues to secure major partnerships and expand its presence.

As one of the top crypto assets to watch, BlockDAG offers a great opportunity. Those who start mining BDAG coins now could see significant passive income when the price reaches $1. Plus, forecasts by market experts point to a 30,000x ROI for initial adopters down the line.

Learn About BlockDAG – Act Now Before Prices Increase:

Presale | Website | Telegram | Discord

DISCLAIMER: CAPTAINALTCOIN DOES NOT ENDORSE INVESTING IN ANY PROJECT MENTIONED IN SPONSORED ARTICLES. EXERCISE CAUTION AND DO THOROUGH RESEARCH BEFORE INVESTING YOUR MONEY. CaptainAltcoin takes no responsibility for its accuracy or quality. This content was not written by CaptainAltcoin’s team. We strongly advise readers to do their own thorough research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. Any investment decisions made based on this content are at the sole risk of the readCaptainAltcoin is not liable for any damages or losses from using or relying on this content.

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The Federal Reserve implemented a 50 basis point rate cut, with expectations of further reductions to bring the median benchmark rate to 4.4% by year-end.

Despite the rate cut, market sentiments are mixed with some skepticism about the sustainability of the crypto market rally.

Major cryptocurrencies like Solana's SOL, BNB, XRP, and Cardano's ADA saw gains, with SOL leading at a 6% increase.

Additionally, there's a notable interest in further rate cuts, with market bets on Polymarket indicating expectations of continued monetary easing by the Fed.

A 50 basis point cut by the Fed, and the first bitcoin {{BTC}} buy by a presidential candidate, kept digital assets in the green during the East Asia trading day, even though some market watchers are skeptical if the rally has any sort of legs.

Fed members expect median benchmark rates to come down to 4.4% by year-end, as reported, reflecting some 50 basis points (bps) more cuts in the next two Federal Open Market Committee (FOMC) meetings, according to the Fed's quarterly economic projection.

Bitcoin is trading near $62K, up 2.4% in the last 24 hours. The CoinDesk 20 (CD20), a measure of the largest digital assets, is up 3.4%.

The broader crypto market moved higher. Solana’s SOL rose 6% to lead gains among majors, with BNB Chain’s BNB, xrp (XRP) and Cardano’s ADA rising as much as 4.5%. Memecoins dogecoin (DOGE) and shiba inu (SHIB) rose 4%.

Traders expect rally to be short-lived

In emailed comments, Chris Aruliah, ByBit’s Head of Institution, had a mixed view bout the rate cut’s impact on the crypto market.

“The broader global economic slowdown stipulated by softer economic indicators and geopolitical complexities is tempering investor sentiment,” Aruliah wrote in an emailed statement. “Therefore, while a 0.5% reduction in the Fed’s policy rate may provide a short-term boost to the cryptocurrency market, it is crucial to remain vigilant regarding the potential challenges posed by economic uncertainty and market fluctuations.”

In an interview with CoinDesk TV, Maelstrom’s Arthur Hayes argued that rate cuts as a whole aren’t necessary, and a 50 basis point rate cut would trigger a brief market rally but ultimately reveal deeper issues in the global financial system, leading to more depressed prices.

“At a high level, I think that they should not be raising rates. I believe that the U.S. economy is quite strong. If you've seen the GDP prints over the last eight or nine quarters, it's been consistent growth,” he said during the interview. “Inflation is going to accelerate into the fourth quarter if they decide to continue cutting rates.”

The U.S. government's heavy spending is driving rapid economic growth, which benefits Kamala Harris's election chances, but cutting rates amid high inflation is seen as a mistake, he argued.

“I think that the response is going to be if the markets start to falter, they're just going to do more of it and they’re going to make the problem even worse,” he continued.

In a note, Presto Research wrote that the market remains divided on the implications of the Fed's 50 bps cut, with mixed reactions across asset classes, as concerns over growth and potential recession weigh on investor sentiment.

“Judging by last night’s market confusion, growth concerns clearly exist, and the market needs relief from them to rally. We are now firmly in ‘good news is good news’ territory,” Presto wrote.

More cuts ahead

On Polymarket, traders are confident that the Fed is nowhere close to being done cutting rates.

Bettors are giving a 41% chance of a 100 bps cut by the end of the year (meaning there’s another 50 bps cut in the bag), and a 38% chance of a 125 bps cut.

They are also putting their money on a 65% chance of a 25 bps cut in November and a 26% chance of a 50 bps cut during the same time.

For December, the consensus is that there’s a high chance of a further cut with a 50% chance of a 25 bps decrease, and a 33% chance of a 50 bps cut.

Elsewhere in crypto, Aleo, the native token of the Hashkey-backed privacy-focused zero-knowledge proof layer 1 blockchain is up over 14% after being listed on Coinbase.

Sui's SUI and Fantom’s FTM are also up double digits, alongside a general recovery in AI tokens. The correlation between AI tokens and Nvidia appears to be weakening, as the chipmakers stock is down 3% over the last five days.

Binance Coin (BNB), the native token of the Binance ecosystem, is currently in the spotlight as technical analysts observe a…

For the full story, head over to TheCurrencyAnalytics.com.

Monero’s privacy features have led to a 13% price jump, while Binance Coin is facing a crucial challenge as it tries to hold its support level. Both coins are dealing with market volatility, raising questions about their future movements.

Meanwhile, BlockDAG is on a rapid rise, having raised over $73 million in its presale. This follows major developments, such as multimillion-dollar soccer partnerships and insights from a recent AMA with CEO Anthony Turner. One key highlight from the AMA was the powerful combination of BlockDAG’s X1 and X10 miners, which can boost mining efficiency by 10x. Plus, forecasts by market experts point to a 30,000x ROI for initial adopters down the line.

BNB Price Forecast: Can It Stay Above $500?

BNB has been struggling to hold its ground above the key $500 support level. After failing to break through the $540 resistance, its price slipped below $520 and hit a low of $496. Now, BNB is consolidating, with immediate resistance at $518 and $522, the latter being the 61.8% Fibonacci retracement level from its recent drop.

If BNB can clear these resistance levels, it could climb to $535 or even $550. However, if it fails to stay above $500, we could see it drop to $488, with further declines possibly testing the $465 level.

Monero (XMR) Jumps 13% Despite Bearish Market

While the overall market remains bearish, Monero (XMR) has surged 13% in the past week, emerging as a top performer. With a market cap of $3.2 billion, Monero’s rise is driven by its strong focus on privacy and growing utility.

Currently trading between $170 and $174, Monero has the potential to break through the $190 mark soon, giving bulls a solid push toward the $200 level. However, if it loses momentum, the price could drop back to $164. Keep an eye on Monero as it continues to make waves!

Unlock a 10x Boost with BlockDAG’s X1 & X10 Miners

BlockDAG, a cutting-edge Layer 1 blockchain, has raised an impressive $73 million in its presale, with $4.8 million coming from miner sales alone. Recent multi-million-dollar sponsorship deals with European soccer clubs, along with insights from CEO Anthony Turner’s AMA, have fueled excitement, with a $1 price forecast for the BDAG coin by early 2025.

A key highlight from the AMA was Turner’s strategy to maximize mining rewards by combining the X1 and X10 miners for a huge 10x efficiency boost. The X1 miner, available on the Google Play and Apple App stores, can generate up to 20 BDAG coins daily using just Wi-Fi. Meanwhile, the X10 miner, built for high performance, can produce up to 200 BDAG coins daily with only 40 watts of power.

By combining the ease of the X1 with the power of the X10, miners can potentially mint thousands of BDAG coins each day. This pairing presents a fantastic opportunity to maximize earnings, especially as BlockDAG’s presale continues to grow.

With BDAG currently priced at just $0.0178 and forecasted to hit $1, mining now could lead to significant passive income in the future. Furthermore, financial analysts foresee a 30,000x ROI for those who adopt early in the long term.

Concluding Thoughts

BNB’s future price depends on whether it can hold its current support level, while Monero has seen a recent boost thanks to its privacy focus, even in a tough market. Meanwhile, BlockDAG is gaining momentum fast, raising over $73 million in its presale with a promising $1 price forecast.

The latest AMA highlighted the big potential of combining the X1 and X10 miners, which can give miners a 10x boost in efficiency. This gives them a huge advantage, especially as BlockDAG continues to land high-profile partnerships and expand its reach.

As one of the top crypto assets to watch, BlockDAG presents a unique opportunity. Early miners who start minting BDAG coins now could see significant passive income when the price hits $1. In addition, market observers estimate a 30,000x ROI for those who buy early over the long haul.

Learn About BlockDAG – Act Now Before Prices Increase:

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetwork

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

On Sep 18, 2024, 6:34 PM (UTC), according to Binance Market Data, BNB  crossed the 550 USDT benchmark and is now trading at 550.299988 USDT, with a narrowed 0.26% increase in 24 hours.

BNB forms inverse head and shoulders pattern—could a breakout push prices up by 19% to $725?

Binance Coin (BNB), one of the leading cryptocurrencies, has recently made headlines with its impressive performance. On September 17th, BNB…

For the full story, head over to TheCurrencyAnalytics.com.

Monero’s commitment to privacy has sparked a notable 13% surge in its value, while Binance Coin (BNB) faces a pivotal moment, wrestling to hold its ground. Amidst this market rollercoaster, both currencies stir intense debates on their trajectories.

Meanwhile, BlockDAG’s trajectory is on a steep climb, evidenced by a staggering $73 million garnered in its latest presale. This surge in interest is buoyed by strategic multi-million dollar soccer deals and the wisdom shared by CEO Anthony Turner during a recent AMA. The spotlight shone bright on the transformative power of the X1 and X10 miners, designed to revolutionize mining efficiency tenfold. Additionally, market experts are suggesting a 30,000x ROI for early buyers over time.

BNB Price Outlook: Can It Stay Above $500?

BNB has been battling to keep its footing above the critical $500 support zone. After an unsuccessful attempt to break through the $540 resistance, its price slipped below $520, hitting a recent low of $496. Right now, BNB is consolidating its losses, with immediate resistance sitting at $518 and $522—the latter marking the 61.8% Fibonacci retracement level from its latest drop.

If BNB can manage to break through these resistance levels, it could climb back to $535 or even make a run toward $550. On the flip side, if it fails to hold above the $500 mark, we could see it dip to $488, and if the sell-off continues, a test of the $465 level may be on the horizon.

Monero (XMR) Surges 13% Despite Bearish Market Conditions

While the broader market faces bearish pressure, Monero (XMR) has defied the odds, climbing 13% over the past week and emerging as a standout performer. With a market cap of $3.2 billion, Monero’s strong performance is fueled by its focus on privacy and growing real-world utility.

Currently trading between $170 and $174, Monero has a clear shot at breaking through the $190 mark in the short term, setting the stage for bulls to drive it toward the $200 milestone. However, if the momentum slows, we could see XMR retreat to $164. Keep an eye on this privacy coin as it continues to make moves!

Unlock a 10x Mining Boost with BlockDAG’s X1 & X10

BlockDAG, a cutting-edge Layer 1 blockchain, is making waves with its game-changing technology. After raising a whopping $73 million in its presale, including $4.8 million from miner sales alone, BlockDAG is positioning itself as a major player in the crypto space. Recent multi-million dollar sponsorships with European soccer clubs and insights shared by CEO Anthony Turner in a recent AMA have fueled excitement, with forecasts pointing to a $30 BDAG coin by 2030.

One of the key takeaways from Turner’s AMA was his strategy for maximizing mining rewards by pairing the X1 and X10 miner rigs. “Pairing X10 with X1 miners gives you a massive boost of 10 times,” he revealed, offering a serious advantage for miners looking to ramp up their daily coin output.

The X1 miner, available on the Google Play and Apple App stores, can easily mine up to 20 BDAG coins a day using just Wi-Fi. Meanwhile, the X10 miner is a powerhouse, capable of generating up to 200 BDAG coins daily with only 40 watts of power.

By combining the simplicity of the X1 with the strength of the X10, miners can unlock the full potential of both rigs, minting thousands of BDAG coins daily. With the coin currently priced at just $0.0178 and expected to hit $30 in the near future, getting in on BDAG mining now could be the key to earning substantial passive income. Plus, forecasts by market experts point to a 30,000x ROI for initial adopters down the line.

In a Nutshell

BNB’s price outlook hinges on its ability to hold current support levels, while Monero’s privacy-centric approach has fueled its impressive rise, even in a tough market. Meanwhile, BlockDAG is skyrocketing, with $73 million raised in presale and a promising $30 price forecast on the horizon. 

A recent AMA revealed a major advantage for miners: pairing the X1 and X10 miners for a 10x boost in efficiency. This strategy offers a huge edge for those looking to maximize their rewards, especially as BlockDAG secures high-profile partnerships and broadens its global reach. Furthermore, financial analysts foresee a 30,000x ROI for those who buy early in the long term.

Learn About BlockDAG – Act Now Before Prices Increase:

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetwork

Discord: https://discord.gg/Q7BxghMVyu

BNB مؤخرا ، وصلت عملة
إلى أعلى مستوياتها كرابع اكبر ماركت كاب من حيث القيمة السوقية في عالم العملات الرقمية ، حيث تجاوزت قيمتها السوقية 80 مليار دولار. ومن هذا الاهتمام، ليس من المستغرب حتى نمو عملات الميم المرتبطة بنظام BNB Chain البيئي، وهي BEP-20. تشمل رموز BNB Chain مع هذا الارتفاع عملات meme.

وهنا بعض اشهر الأمثلة لمشاريع الميم كوين على
شبكة Binance smart chain

1- عملة Simon’s CAT

إن عملة memecoin SIMON’S CAT مستوحاة من سلسلة الرسوم المتحركة "Simon’s Cat". وبطريقة تقديم العرض المتحرك للمرح المجتمعي المرح، فإن هذه العملة مستوحاة من السلسلة ولكنها يمكن أن تجلب المرح إلى عالم العملات المشفرة. وبفضل علامتها التجارية الفريدة ومجتمعها القوي، تعد $CAT من بين العملات التي تأمل في تحقيق نجاح كبير في سوق memecoins

2- عملة FLOKI

توجد عملة memecoin المسماة $FLOKI، المستوحاة من كلب إيلون ماسك ولكنها تشبه شخصية في الأساطير الإسكندنافية، على BNB Chain؛ حيث تلعب روح الدعابة والنمو الذي يقوده المجتمع دورًا جيدًا مع الفائدة في العالم الحقيقي، حيث تكتسب زخمًا بفضل مجتمعها القوي والمشاريع المتنوعة داخل نظامها البيئي.

3- عملة BONK

$BONK هي عملة ميمية شهيرة للغاية، مستوحاة من شيبا إينو. كانت السمة الرئيسية هي النهج المجتمعي الترفيهي مع رسوم معاملات منخفضة للغاية. تتمتع BONK بمتابعة قوية لإضافة الفائدة والإثارة إلى نظام Solana البيئي من خلال المشاريع والشراكات المبتكرة.

4- عملة Baby Doge

تعد عملة $BABYDOGE رمزًا شائعًا في سلسلة BNB، مثل غيرها من العملات الميمية، وقد جلبت معها نهجًا مجتمعيًا ومبادرات خيرية. إن اقتصاد الرموز انكماشي، حيث تعمل الآلية تلقائيًا على حرق الرموز لخلق الندرة وتحفيز حامليها على تقدير الزخم المتزايد لاتجاه عملة الميم.

#Bitcoin #Doge #BNB

Binance Coin (BNB) navigates the cryptocurrency landscape, it faces an uphill battle in its quest to reach $600. Recent trading…

For the full story, head over to TheCurrencyAnalytics.com.

In the past 24 hours, over $270 million worth of BNB has been deposited onto Binance, signaling strong activity and interest in the token.

This significant influx comes as BNB enthusiasts recall its impressive performance during previous market cycles.

Approximately 280 days after the last Bitcoin halving, BNB saw a remarkable 7.5x increase from its previous all-time high (ATH), climbing from $40 to $300.

Just three months later, it surged further to $680, marking a staggering 17x gain from its prior ATH.

#BNB UPDATE:In the previous cycle, #BNB performed well alongside the ALTS market. At 280 days after the #Bitcoin halving, it made a 7.5X increase from the previous ATH, going from $40 to $300. Three months later, it reached $680, achieving a 17X from the former ATH.

Based on… pic.twitter.com/dm3W1ypPX0

— Master Kenobi (@btc_MasterPlan) September 15, 2024

Drawing from historical patterns, similar gains could be anticipated for BNB following the latest Bitcoin halving, which occurred recently. The current data and chart analysis suggest that BNB might experience substantial price movements around 280 days post-halving.

Whale Deposits 62,000 BNB Into Binance 

Recently, a notable whale, identified as wallet 0x1E7, borrowed 62,000 BNB (approximately $34.31 million) from Venus and subsequently deposited the entire amount onto Binance. This large deposit is expected to be staked for the Launch Pool, a feature that allows users to earn rewards.

In total, approximately 511,600 BNB (valued at around $276.29 million) has been deposited into Binance within the past 24 hours. This influx highlights the growing confidence and strategic positioning of investors as they capitalize on staking opportunities and potential future price increases.

3 hours ago, a whale 0x1E7 borrowed 62k $BNB (~$34.31M) from #Venus and then deposited all $BNB to #Binance.

Those $BNB will be staked to earn #Launch_pool.

Within 24 hours, there were ~511.6k $BNB (~$276.29M) deposited into #Binance.

Address:https://t.co/4JVMMDit1q pic.twitter.com/gpH4bcI7wS

— The Data Nerd (@OnchainDataNerd) September 16, 2024

As BNB continues to attract significant capital inflows and staking activity, market participants will be closely watching to see if historical trends repeat and whether BNB can once again achieve new highs in the months ahead.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post BNB Sees $270M Deposited On Binance, Historical Trends Suggest Potential Surge appeared first on The Merkle News.