Binance Coin (BNB) Rallies 8% Ahead Of Hard Fork Upgrade

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	89,791,915,823	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Binance Coin

BNBUSD

Crypto

89,791,915,823

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	2.88	0.51%	569.67	569.67	570.72

Price Change

Price Change %

Current Price

Bid Price

Offer

2.88

0.51%

569.67

570.72

High Price	Low Price	Open Price	Prev. Close	52 Week Range
569.76	560.91	566.78	566.78	210.00 - 683.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

569.76

560.91

566.78

210.00 - 683.83

Exchange	Last Trade	Size	Trade Price	Currency
BINA	05:58:14	0.407000	569.67	USD

Exchange

Last Trade

Size

Trade Price

Currency

BINA

05:58:14

0.407000

569.67

USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,936,741.45	6,926.99	BNB	BNBEUR	BNBGBP	BNBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

3,936,741.45

6,926.99

Binance Coin (BNB) Rallies 8% Ahead Of Hard Fork Upgrade

18/04/2023 9:41am

NEWSBTC

The Binance Coin (BNB) token is on a roll as it gains massive momentum following its quarterly burn price and with the highly anticipated BNB Beacon Chain hard fork upgrade just around the corner. The surge in BNB’s market value is good news for investors and analysts. What’s fueling this sudden burst of bullish sentiment? With BNB’s price on the rise, could this be the perfect time to invest in the digital asset? Related Reading: Bitcoin Price Retreats To $29,000 Level – Further Drop Imminent? Barral Upgrade Hard Fork Expected For BNB Chain The BNB Chain is set to undergo the Barral upgrade through a hard fork at block height 310,182,000 on April 21. Despite a slight dip of 1.0% in the past 24 hours, BNB’s price has rallied impressively by 8.4% over the last seven days, currently standing at $344.93 according to Coingecko. The upcoming hard fork will mark the second one for BNB this month, following the ‘Plank’ hard fork that took place on April 12, which aimed to enhance the layer-1 network’s security and stability. The BNB Beacon Chain is expected to have a scheduled hard fork upgrade at block height 310,182,000. Read about what this means for BNB Chain.https://t.co/6Q6Z9rvCAB — BNB Chain (@BNBCHAIN) April 16, 2023 Binance Coin On-Chain Metrics Indicate Positive Momentum On-chain metrics are providing insight into the recent price movements of BNB. According to Token Terminal, BNB’s P/S ratio experienced a decline in the past weeks, suggesting an undervaluation of the token. However, the ratio has been on an uptick since mid-March. Additionally, there has been an increase in positive investor sentiment towards BNB, especially during the middle of last week, indicating trust and confidence in the token. BNB’s MVRV ratio has also shown significant improvement, potentially contributing to its recent bullish price action. BNB’s Weekly Report Highlights Blockchain Developments, Metrics In addition to the recent BNB Beacon Chain update, BNB has released its weekly report, which details significant developments and metrics for the blockchain. According to the report, BNB has surpassed 3.5 million Weekly Active Users (WAU) and 1.16 million Daily Active Users (DAU). Furthermore, BNB has experienced a steady increase in daily transactions since January 2023, with over 20 million transactions processed in the past week alone. Binance Coin (BNB) total market cap currently at $53 billion on the daily chart at TradingView.com Related Reading: OKB Tallies 24% Increase But Active Addresses Fail To Keep Pace – Here’s Why The upcoming hard fork will bring several security enhancements to the cross-chain bridge between BNB Beacon Chain and BNB Smart Chain. These improvements include the ability to immediately pause cross-chain channels in the event of proof forgery detection and emergency intervention by any validator. As a result of these positive developments, BNB’s one-week price volatility has risen, giving hope for continued upward momentum in the coming days. Overall, BNB’s on-chain metrics are indicating positive momentum and optimism among investors for its future prospects. -Featured image from Currency.com

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BNBUSD Binance Coin