Binance Coin (BNB) has struggled to keep pace with the broader market this year, ranking as one of the worst-performing top-five cryptocurrencies with a 4.8% decline.
BNB Chain (previously Binance Smart Chain) has seen a steady influx of stablecoins into its ecosystem.
Since January 1 last year, $2.3 billion worth of stablecoins have flowed into BNB Chain as its use cases continue to expand, supporting decentralized finance (DeFi) applications and even meme coins.
Compared to Ethereum, BNB Chain offers faster transaction speeds and lower fees. However, its total value locked (TVL) remains only a fraction of Ethereum’s, as the latter is seen as the more decentralized option.
BNB Chain is primarily operated by Binance, and the crypto community has raised concerns that its validator network is largely funded and controlled by the exchange. This dependence could pose risks if Binance were to face operational or financial challenges.
Last week, Binance founder and former CEO Changpeng Zhao attempted to boost awareness of the network’s use cases by posting a photo of his dog and engaging with meme coins inspired by Broccoli that were created on BNB Chain.
However, the stunt did little to prevent BNB’s ongoing decline, as the token continued its downward trend over the weekend.
Binance Coin (BNB) Drops by 7% in the Past 3 Days
On Thursday, BNB saw a sharp decline, falling from around $720 to its current price of $672.4, marking a three-day loss of over 7% as the broader crypto market faced significant weakness.
Despite this short-term downturn, BNB remains in positive territory for the week, posting a 7-day gain of 10.3%.
The price of BNB has been rising in 10 of the last 12 trading sessions. Even though the token made a lower high, it appears that positive momentum is still raging on and that could result in another break move toward the $700 mark.
Back on February 9, the Relative Strength Index (RSI) crossed above its 14-day SMA, signaling a buy opportunity, while the MACD histogram has been steadily increasing with positive readings.
Looking ahead, a break above $730 could pave the way for a retest of the $800 psychological resistance, presenting a 9.6% short-term upside.
With BNB Chain’s expanding adoption and rising developer activity, the network is steadily closing the gap with Ethereum, positioning itself as a formidable competitor in the long run.
As this growth accelerates, projects like Best Wallet are stepping in to enhance user experience, offering seamless multi-chain support and empowering investors with greater flexibility in managing their digital assets.
Best Wallet ($BEST) Raises $10M to Further Expand its Ecosystem
Since launching its presale in late December, Best Wallet ($BEST) has raised over $10 million, fueling its rapid development and expanding roadmap.
This next-generation crypto wallet supports more than 60 blockchains and hundreds of digital assets, including non-fungible tokens (NFTs), offering users a seamless and comprehensive storage solution.
Beyond its secure storage capabilities, Best Wallet is expanding its ecosystem with a decentralized exchange and a crypto-powered debit card, allowing users to seamlessly spend digital assets in everyday transactions.
The project has also introduced Upcoming Tokens, a powerful crypto screener that identifies high-potential presales still under the radar, giving users a strategic edge in early investments.
Currently priced at $0.024025, $BEST presents a strong upside for early buyers—though with just 30 hours until the next price increase, investors have limited time to secure the lowest possible entry.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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