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
â 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 BinanceÂ
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
â 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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