BNB may surge before the ENA listing due to latecomers seeking farming opportunities, but could plunge as the listing goes live, as investors need liquidity for the new project. Expect volatility, increased volume, but a notable price decline. However, a spike is also possible driven by trading activity during the selloff. Projections suggest a momentary fluctuation between $610-$625.
On April 2, 2024, ENA trading begins, and the Binance farming period ends. With 17,854,618.9111 BNB staked, those tokens will re-enter circulation within 22 hours, creating a surplus. Some will be liquidated for ENA, potentially creating more sellers than buyers, driving BNB's price down short-term.
Historical Examples:
SushiSwap's 2020 fork of Uniswap saw liquidity migration from Uniswap, leading to a UNI price drop.
Similarly, PancakeSwap and SyrupBar caused a temporary CAKE price decline.
Ultimately, the long-term market sentiment towards BNB is expected to be favorable.
This should not be considered financial or trading advice.
