BNB rises 10%, targets $700 as ecosystem grows
PancakeSwap, Binance's largest DEX, has locked up $3.02 billion in value, a 25% profit in 30 days.
From September 2023, Binance's BNC cryptocurrency has appreciated 190%.
Binance has made waves again as its BNC token has increased substantially over the previous 72 hours. More than 190% has increased from September 2023, when it was lowest. With more investors looking for a value gain and supporting ecosystem growth, the token is approaching $590, the important barrier level.
BNB's market cap is $86,020,504,289 as of March 27, 2024. BNB price forecast had traders and investors captivated for a week. A 24% rise has raised the coin's market value to USD 580.50. BNB rose 10% in the past day to become the fourth-largest coin by market value.
If buyers hold the final resistance level, BNB price should soar like Bitcoin to $700. Recent prices of $575 indicate traders and purchasers are optimistic, suggesting seller tiredness is not a problem.
Leveraging BNB token value
A digital asset traded under BNB is Binance Coin. In 2017, blockchain-powered BNB launched on the ERC-20 Ethereum network. Trading, exchange, listing, and other services are supported by the ecosystem. Besides hosting its currency, Binance provides Binance Chain, Binance Smart Chain (BSC), Binance Academy, Trust Wallet, and Binance Research.
The BNB token has gained appeal because Bitcoin Dogs, the first ICO in the BNB ecosystem, established a record by generating $13 million in a month. As a direct result, BNB token prices are rising, with the total value locked (TVL) hitting $8.3 billion, making it the fourth-largest chain in the business after Ethereum, Solana, and Tron.
In addition, PancakeSwap, Binance's largest DEX, has locked up $3.02 billion in value, a 25% profit in 30 days. APX v2, another BSC network, rated third among DEXs with $904 million evaluated.
PinkSale, Venus, Binance Staked ETH, and Lista DAO, all on Binance, have also improved BNB's price.
