Popular cryptocurrency exchange Binance’ssupported by BNBmanages to resist the harsh and painful processes of the crypto bear market.
Binance company DEXside with BNB Chain, $5.2 billiontotal locked assets ( TVL) is remarkable. CEXUnlike centralized exchanges, which are called DEX The increasing interest towards the side also came to the fore. Cryptocurrency exchange in particular of FTX The collapse was most beneficial for Binance. The world’s largest cryptocurrency exchange Binance, volume and TVL included new users in the rates. Growing and expanding BNB Chain also strengthens the company’s native token. In the painful crypto bear market, the most resilient standing among the major coins BNB it happened. popular cryptocurrency, bitcoinand to Ethereumexperienced a lesser decline.
BNB and Changpeng Zhao
Binancecompany’s CEOChangpeng Zhao ( CZ), the native token of the exchange and the decentralized network BNBtook important steps for 60 billion dollarsexisting on Binance exchange has dominated more than half of the crypto industry. The exchange accommodates billions of dollars in trading volumes and leveraged transactions. CZ, taking the power of the stock market behind it BNB he works hard for it. It’s no surprise that the world’s number one crypto exchange wants to have the number one cryptocurrency ranked by market cap.
CEO of the exchange CZ, launchpadIt has provided a strong support to the cryptocurrency with its feature. on Binancelaunchpad, where the coins to be listed start, for front participation BNB staking requirement. In this way, millions of of BNBexpected to be removed from the circulation supply.
Moreover on BNB Chainbillions of dollars in volume, completely BNB carried out with. Binance’s native token is used for events such as network fees, purchases, adding liquidity, staking systems.
As a result of all this, the strong cryptocurrency managed to survive in the bear market.
Why Did BNB Rise?
Popular cryptocurrency exchange Binance, Hooked Protocol ( HOOK announced that it has launched a launchpad for its ) token. The 29th launchpad project of the stock market HOOK, Only BNB recognized the right to participate. With the spread of the news, BNBprice percent 16‘ nessreached an uptrend.
The rise of the popular cryptocurrency brought with it new question marks. Crypto investors wonder if this uptrend is healthy. Recently, with the collapse of FTX, of BNBprice 30 percent It had risen more than . But a momentary drop, the price again 260 dollarscarried levels.
BNB Chart Analysis, Will the Uptrend Continue?
Binance’scryptocurrency of BNB , the news continues to rise effectively. day 16 percentThe popular cryptocurrency, which has experienced a rise of .
If it can survive as a result of this pressure, it can continue its uptrend. However, price volatility may experience a decline after the news effect wears off. The impact of the Launchpad news plays an important role for the price.
HOOKLaunchpad launched for BNB The opening to participation has affected the entire price balance. Investors who want to participate in Launchpad and short-term traders who think that launchpad can bring a price increase have affected the chart.
News, anticipation, and the launchpad trilogy of BNB brought its price up 16 percent. In this case, the continuation of the rise may depend on meeting the selling pressure. Bitcoin price also affects all cryptocurrencies.
