BNB Price: Is It About to Soar to the Stratosphere? 🚀
Oh, the drama! Oh, the intrigue! Asset manager VanEck has filed for a proposed BNB exchange-traded fund (ETF), and the BNB Coin is simply thrilled! 💃 As a result, the trading volume for BNB Coin has skyrocketed by 42% to a whopping $2.12 billion, and analysts are now absolutely convinced that the BNB price will rally to all-time highs. 🚀
In BNB Price Ready for A Mega Rally?
BNB Coin, darling, has been performing rather well over the past month, if I do say so myself. While those other altcoins, like Bitcoin and Ethereum, were busy losing their minds in March, BNB Coin was simply smiling sweetly, down a mere 1% on the monthly chart. And after a strong consolidation of around $610 levels, the BNB price could be eyeing a strong breakout to new all-time highs. 🤩
BNB Burn and Pascal Hardfork Offer Support
Now, my dears, let’s talk about the real magic behind BNB Coin. Its real-time burn mechanism is simply genius! Over the past seven days, a whopping 951.85 BNB worth $571,747.74 was burned, contributing to a total burn value of nearly $160 million, as per data from BNBBurn. And let’s not forget the Pascal hard fork, which has made BNB Coin incredibly compatible with Ethereum. The network is preparing for additional hard forks this month and in June, aimed at further improving transaction speeds. 💻
And if that weren’t enough, BNB Chain is gaining a lot of popularity among meme coins, adding support for Mubarak meme coin, CZ’s Dog BROCOLLI meme coin, and others. I mean, who doesn’t love a good meme? 🤣
Now, let’s take a look at the technical setup, shall we? The BNB price chart shows that the altcoin is forming a cup-and-handle pattern, along with an ascending channel pattern formation, as shown in the image below.
On the other hand, BNB price is trading above the 50-day moving average, which is a positive indicator. But for the altcoin to kickstart a rally to its all-time high of $790, it must first complete the handle formation at $662, and give a breakout above that level. Fingers crossed, darlings! 🤞
As of press time, BNB Coin is trading at $603 levels with its daily trading volume up by 42%, surging past $2.12 billion. Furthermore, the Coinglass data shows that the BNB options trading volume is also up by 46%. The excitement is simply palpable! 🎉
VanEck Files for Spot BNB ETF
And finally, the pièce de résistance! $115 billion asset manager VanEck filed for the spot BNB ETF in Delaware on Tuesday, April 1, which could serve as a major catalyst for the BNB Coin rally ahead. The proposed BNB ETF would follow the price of BNB, the fifth-largest cryptocurrency by market capitalization. Ah, the drama! Ah, the intrigue! 💥
Apart from BNB, VanEck has already submitted crypto ETF applications for Bitcoin, Ether, Solana, and Avalanche. VanEck filed for SEC approval last month to launch the first AVAX ETF, building on its success with spot Bitcoin and Ethereum ETFs. And now, it’s BNB’s turn to shine! 🌟
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2025-04-02 08:14