Binance is the leading cryptocurrency exchange in the world, with a daily volume of over $24 Billion. The exchange uses the BNB token as a key part of their ecosystem, including the Binance Smart Chain (BSC).
Since Bitcoin breached its all-time high of $73,000 in March, altcoins have been experiencing a bullish period, with coins like Ethereum (ETH), Solana (SOL), and BNB making significant gains.
BNB price has been trending positively in the past 30 days. According to data from CoinMarketCap, the project’s price increased by 80.9% in the past month and is currently at $613.
BNB Prediction for March 2024
BNB has had an impressive run this year. The project has increased significantly since January 2024 because of bullish momentum across the cryptocurrency industry. Since the Bitcoin ETF approval by the US SEC in late December, there has been an influx of capital flowing into blockchain projects.
Another key factor behind the recent growth in BNB price has been the announcement of Futures NEXT launch by Binance. This will allow users to predict token listings on the USDⓈ-M Futures market and earn rewards.
According to technical analysis, BNB price has bounced off from its resistance of $533.9 and could rise above $600 in March 2024. The coin could correct to $520 before its next leg upwards in a broader market correction landscape.
Altcoin Market Could Face Broader Correction
With the current rise in the global altcoin market, leading projects like Ethereum, Solana, Chainlink, and BNB have all seen major monthly growth. However, some analysts now predict that the market could face a significant correction before the halving.
This move would reset funding levels in the market and ensure healthy price movement. In anticipation of such a move, crypto adherents are now looking towards emerging projects that have yet to realize their maximum potential. Platforms like Algotech are emerging as a popular choice.
Algotech Surpasses Market Expectations With $2 Million Presale
Emerging trading platform Algotech (ALGT) has surprised market analysts with its impressive presale performance. The project has raised over $2.1 Million in two weeks by selling over 50 Million ALGT tokens. According to current data, the project has over 5,000 unique holders and is being considered to be the best presale of 2024.
Algotech (ALGT) is an algorithmic trading platform combining AI and blockchain technology. It offers traders features like breakout detection, hedging, mean reversion, and high-volume arbitrage. The project also gives ALGT token holders governance rights and profit shares.
Adherents are jumping at the opportunity to infuse in the project at $0.06 before the price jumps to $0.08. Some analysts even think the project could jump to $1 once listed on major exchanges.
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