As on-chain indicators back bulls, the price prognosis for Binance Coin improves
Through its MVB Accelerator Program, Binance Labs has just invested in four cryptocurrency businesses.
On Wednesday, BNB made $86,200 in income, the highest day total since early June, according to Artemis Analytics.
BNB DEX trade volume is on the rise, according to on-chain statistics, which suggests that user interest and engagement have been on the rise.
The declining development activities at BNB should cause investors to exercise caution.
Binance Coin (BNB) has risen 10% this week, marking its third consecutive week of gains. The recent investment in crypto startup initiatives by Binance Labs, increased decentralized exchange (DEX) trading volume, and expanding income are anticipated to fuel more increases in the coming days.
Through its MVB Accelerator Program, Binance Labs has just invested in four cryptocurrency businesses. Following Thursday's announcement, the price of BNB increased by almost 2%.
"This season received over 700 applications and the programs' highly selective process admitted less than 2% of the total applicant pool to welcome the 13 MVB Season 7 Accelerator teams," according to a tweet from BNB Chain.
The platform's positive prediction is supported by factors such as the recent increase in liquidity and interest among traders in the BNB chain. The data from Artemis Terminal reveals that the DEX trading volume of BNB Chain reached a new high of $922.1 million on Friday, up from $484.3 million on Monday, which is the biggest level since August 6.
On Wednesday, BNB made $86,200 in revenue, the biggest daily revenue since early June, according to further data from Artemis Terminal, which further supports the positive prognosis.
Investors shouldn't anticipate a sudden price rebound for BNB just yet, as Development Activity has been modest despite growing DEX trading volume, income, and Binance Labs' investments in crypto startup ventures.
