• BNB coin, the cryptocurrency that powers the Binance Smart Chain, has seen a 25% increase in price since last week’s two-month low.
• The rally can be attributed to optimism about US bank troubles and the narrative that crypto is a safe haven against trouble in traditional finance.
• Uniswap’s deployment on BNB Chain further boosts its utility and is expected to bring more on-chain activity.
BNB Coin Price Surge
The price of BNB/USD has risen by 25% from its two month lows of mid-$260s late last week. This surge can be attributed to growing optimism about US bank troubles and the perception that cryptocurrencies are a safe haven against traditional finance turmoil.
Uniswap Deployment on BNB Chain
Uniswap, the largest decentralized exchange, has been deployed on BNB Chain, significantly adding to its utility. This move is expected to drive more on-chain activity as users will benefit from faster speeds and lower fees when trading or swapping tokens.
Price Predictions for BNB
Technically speaking, things look very good for BNB as it trades above all major moving averages and breaks out of the downtrend which had capped prices since early February. Analysts predict that if current highs are broken then a rally back to November highs near $400 could be possible – representing a further 20% gain from current levels.
Of course with any investment there are risks involved and this is no different for cryptocurrencies such as BNB. Investors should do their own due diligence before investing in order to assess whether this particular asset class fits their risk appetite and financial goals.
In conclusion, while no one can predict with 100% accuracy where the markets will go next, it looks like an exciting time ahead for those invested in Bitcoin or other altcoins such as Binance Coin (BNB). With Uniswap now deployed on the BNB chain increasing its utility substantially and investor confidence building around crypto assets due to recent news developments, there could be much more upside yet for holders of this promising digital asset class.