Analysis of the reasons for the decline in BNB prices:
1. The market competition is fierce, new coins are frequently issued and many of them fall as soon as they open, especially the poor performance of later projects, which has dispersed the investment enthusiasm of BNB.
2. The attractiveness of mining has declined, the value of new coins has shrunk severely, represented by NOT, and the price has continued to bottom out, affecting investor enthusiasm.
3. The DApp ecosystem is sluggish, and the once popular applications such as Pancake have cooled down. The use of BNB as a handling fee has decreased, and demand has declined.
4. The bull market prospects are unclear, large funds are cautious in operation, and trading platforms are profitable but unwilling to raise their own currency prices. Market confidence has been frustrated, and users have sold BNB and related currencies such as CAKE.
In the short term, BNB faces multiple challenges; but given its platform foundation and industry status, long-term holding of BNB is still optimistic, and it is expected that the market recovery in the future will drive the value to rise.
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