Spot BNB ETF application of world -renowned investment giant Vaneck created excitement in the Altcoin market. BNB Coin’s trading volume increased by 42 %in the last 24 hours and exceeded $ 2.12 billion. Analysts say that after this development, BNB can reach the highest level of all time. Technical indicators and over -chain data support this potential rally.
Is the BNB price ready for ATH?
In March, Bitcoin, Ethereum, Solana and XRP experienced double -digit decreases, while BNB Coin decreased only 1 %. This resistant stance increased the confidence of investors in BNB. The strong consolidation, especially at $ 610 levels, can be a harbinger of a upward break.
The BNB price is currently trading around 603 dollars. Technically examined, the BNB graph is about to complete the “Cup and Handle” formation. If the price breaks the level of $ 662 in a volume, the possibility of a rally up to $ 790, which is the summit of all time, may be raised.
Pascal Hardform and BNB burning support the price
BNB Coin’s burning mechanism helps to support the price by reducing circulatory supply. 951.85 BNB has been burned in the last seven days and has been deleted from a total of $ 160 million BNB supply. This is an important data that increases the long -term confidence of investors.
On the other hand, Bnb Chain launched Pascal Hardform to become more compatible with Ethereum. In addition, there are more hardform plans in the coming months. These updates increase the network of the network by increasing network performance and transaction speed.
Breast Coin trend and increased usage area
BNB Chain has recently attracted attention with breast coin projects. Projects such as Brocollı and Mubarak Coin supported by CZ operate on BNB Chain. This trend increases the process volume on the network and expands the usage area of the token.
However, according to Coings data, the BNB option volume attracts a 46 %increase. This shows that investors increase the expectations of price movements and intensify the interest in the market.
Vaneck’s ETF application can trigger the rally for BNB Altcoin
On April 1, Vaneck applied to Spot BNB ETF at Delaware. The company, which has governed $ 115 billion, has previously been on the agenda with applications for Bitcoin, Ethereum, Solana and Avalanche ETF. BNB ETF approval may accelerate the upward movement of the price by increasing the interest of corporate investor.
Vaneck’s move can make BNB more legitimate in the eyes of the seclor. Since the capital entering the market with ETF approval has a direct impact on spot prices, new records for BNB may be inevitable in the coming weeks.
