The latest updates for Binance Coin (BNB) show a mixed outlook. BNB recently surpassed $600, and technical analysis suggests it could reach $800, especially if it breaks through key resistance levels. The market sentiment remains bullish with derivative traders taking long positions, signaling optimism in the short to mid-term. However, BNBâs on-chain activity has been declining, with a 37% drop over the past week and lower transaction volumes on major platforms like PancakeSwap ïżŒ ïżŒ.
Additionally, BNB Chain has launched a new initiative focused on meme coins, with a $200,000 prize pool to encourage creativity and community involvement in launching new projects ïżŒ. However, despite these efforts, BNBâs Total Value Locked (TVL) has seen little movement, and its network fees have reached a four-year low ïżŒ.#bnb #bullish
