The BNB price has lasted in the past few days as investors have waited to upgrade the upcoming MaxWell. Binance Coin rose to $ 675 on Monday, and it has been homing at its highest point since February 25. This article explains some of the most important reasons that make the BNB price on the threshold of upscale collapse.
The BNB price rises before the maxwell upgrade
The BNB price has achieved well this year as developers continue to build. Initially launched the Pascal upgrade earlier this year, depths of its merging with Ethereum, the largest chain in Crypto.
After that, the developers launched the Lorentz upgrade in April, which increased the speed of the mass. The average mass speed was transferred from 3 seconds to 1.5 seconds.
The next important upgrade will occur in June when the Maxwell upgrade will be launched, which will increase its speed to 0.50 seconds.
BNB aims to become a better option for Solana and Ethereum developers. Therefore, the BNB price may continue to rise while the bulls are waiting for the upcoming MaxWell upgrade.
BnB Smart Chain Stablecoin Supper
The BNB price may continue to rise as Stablecoins continues to rise in the network. The data indicates that the maximum Stablecoin market has risen to $ 10.1 billion, which is the highest point since November 2022.
Tether’s Sever jumped in the network by 15 % in the last 30 days to 6 billion dollars. Stablecoin from World Liberty from USD1, which is more than $ 2.1 billion of assets. Other higher Stablecoins in the BNB series is the US dollar (USDC), USDX and Binance Peg Busd.
The maximum Stablecoin Rist market is good because it indicates that the network has become active because these currencies are the currencies used in Blockchains.
DEX volume
The BNB price is also likely to rise with a rise in the size of the DEX in the network. The data indicates that the network has dealt with more than $ 102 billion in size this month, which is its highest level since November 2021. Its size was much higher than $ 29.9 billion that was addressed last month.
Pancakewap is the largest player in the BNB series, where its size jumped to more than $ 92.33 billion in the last 30 days. She dealt with more than $ 50.4 billion in the last 30 days and 9.9 billion dollars in the past 24 hours. Its cumulative size jumped to more than $ 1.6 trillion.
UNISWAP has dealt with about $ 5 billion in the last 30 days and $ 3.95 billion in the past seven days.
RISING Defi Tvl
Another reason behind the high price of BNB is that the ecological system works well. Data shows that the closed total value (TVL) in The network jumped To 9.32 billion dollars, the highest point since May 2022. This growth makes it one of the largest chains in the encryption industry.
The best performance in the Bachelor’s Series is FAFIS, Venus, Lista Daoand And kerneldao. Lista Dao assets jumped more than 50 % in the last 30 days,
Technical analysis of the BNB price
Finally, the weekly graph shows that the price of the Binance currency remained in the narrow range this year. This monotheism occurs by design because it is part of the handle section in the cup and the handle style.
The cup depth is about 75 %, which means that the next BNB price goal is about 1100 dollars. This goal is calculated by measuring the same distance from the upper side of the cup.
The warning here is that it may take time until the upscale collapse occurs. For example, the handle section of this style took months to the end.
The 5 most important reasons for Benance BNB is a maturity for penetration first appeared on Invezz
