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Binance Coin Price Graph | Real Time BNB Rate

Author: Ali Raza

Binance Coin Price Live Performance Indicators

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Binance Coin Price Summary

At the time of writing, Binance coin (BNB) managed to breach the $300 mark once more. Not only that, but this new breach appears to be a part of a freshly starting, market-wide bull run. Of course, it is still too early to say whether this is a real price recovery or just a temporary one, but for the time being—the situation does look promising. After all, Bitcoin, the market leader, seems to be approaching the $40k mark for the first time since mid-June.

Binance Coin itself spent the last month fluctuating between a support level at $270, which appears to be its bottom and a resistance level at $330. It has been moving up and down between these two barriers unable to breach either one and at the time of writing, it sits at $322, after growing by 6.55% in the last 24 hours.

Since it has not yet reached this critical resistance, it is difficult to say right now whether or not this is a new rally, or just a market-wide fluctuation that is leading cryptocurrencies to their strongest resistance levels.

Binance Coin Price History

Binance has truly thrived in 2021, making all of its price action before this year a rather straight line, even though a lot of it were strong fluctuations at the time. Since its launch in 2017, the coin has only ever managed to go up to $40 before this year. However, in January 2021, it skyrocketed, and the surge resulted in reaching its ATH at $690 on May 10th.

After the market crashed only a few days later, Binance Coin kept dropping until it hit a support level at $300. This has been its largest support, although the coin has broken it a few times, only to see it start acting as a mild resistance. Its real bottom lies slightly below this level at $270, as mentioned.

Recoveries have also taken it higher than this level, to $330, which is the barrier it is inching closer towards right now, at the time of writing. Provided that it manages to go beyond this level, something that will undoubtedly require quite a strong effort, the coin will then have to breach the barriers at $370, and then $400, both of which have proven to be strong resistance levels in the past few months.

Binance Coin Price Prediction

Being the coin of the world’s largest crypto exchange by trading volume, it is understandable why BNB saw such impressive price performance in 2021. However, there is no way of knowing as of yet whether the coin has reached its limit earlier this year, or if it could still go higher up. Binance itself has had quite a few issues in the past months, with regulators in different countries.

It was in trouble with the regulatory authorities in the UK, Japan, Germany, and other nations, due to its offering of tokenised stocks, which it did not have the license to offer, according to financial watchdogs of all these countries. This has even led to some of the largest banks in these countries discontinuing payments to the exchange, with the biggest example being Barclays. Binance responded by admitting its mistake, removing tokens representing stocks, and claiming that it will double its compliance team by the end of the year. The exchange noted that it grew and developed extremely rapidly, and it has committed mistakes along the way.

So, while this newest controversy may have put its coin in a difficult position, correcting its mistake, issuing a public apology, and promising to improve and remove further imperfections might actually be beneficial for the exchange and its coin alike. BNB certainly seems to have the potential to go higher, and since many assume that Bitcoin has not yet reached its highest price for the year, it is likely that the same can be said about BNB.

Expert Tip on the Price of BNB

Binance Coin, like many other cryptos, seems to have found a new bottom in 2021. Right now, it is still very close to that bottom, which means that there is a high likelihood that the coin could see significant price improvement. As per many analysts, this might mean that right now is the time to buy. Of course, there is still a chance that the market could go the opposite way, and force coins to break their support levels. Investors and traders should be extremely careful if they choose to try and use this opportunity.
- Ali Raza

About Binance Coin

Binance Coin is the native cryptocurrency of the Binance exchange and its entire ecosystem. This is a rich ecosystem that consists of two blockchains, a main centralised exchange, a DEX, multiple fiat-to-crypto subsidiaries around the world, and many other acquired businesses, as well as those launched by Binance itself.

Its ecosystem also includes the Binance Launchpad, which introduced the IEO trend for the first time in 2019. Meanwhile, BNB is at the heart of it all, bringing benefits such as fee discounts within the exchange, offering smart contracts and dApps creation, and also fuelling the growth of Binance’s DeFi sector. In other words, the coin certainly doesn’t lack use cases.

Binance Coin Value Compared to Other Cryptocurrencies

Frequently Asked Questions

  1. Judging from its earlier performance in 2021, yes, many analysts seem to believe so. BNB is currently more than 50% below its ATH, meaning that its price has a lot of potential to climb higher.
  2. Yes. But not more than any other cryptocurrency. Over the years, BNB made several attempts to decouple from Bitcoin and come out of its shadow, becoming one of the best performers several times due to such efforts. In other words, whenever it tried to go against BTC, it was always doing better than it did while following Bitcoin’s lead. This was particularly noticeable a few years back, when it first made a move towards $30.
  3. Yes. Traders are regularly buying BNB. Especially in 2021, when the coin went from $50 to $690.
  4. BNB performed excellently this year, far exceeding expectations and unlocking new levels that many did not even expect to be possible. It outperformed even Bitcoin, and has easily become one of the better performers of this year before the price crash.
  5. Since BNB seems to be at its bottom right now, buying it now might be a good idea. However, this is not the first time that the prices have seen a mild recovery, only to crash back down, so if you decide to buy now, keep a close eye on the market, and make sure to use risk management tools.
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