USDJPY
EURUSD
Crypto
BNB falls below $900 even after network upgrade, ecosystem developments as market declines
Key Takeaways (30s Read)
BNB Chain completes significant upgrade yet falls below $900.
BNB (Binance Coin) has fallen below the critical support level of $900. Despite a significant upgrade to the BNB Chain's layer-2 network, opBNB, which completed the Fourier hard fork that doubled transaction throughput, the overall market remains in decline. This upgrade is expected to provide a foundation for long-term growth of the BNB ecosystem, but short-term selling pressure is dominating the scene. Traders are experiencing bearish sentiment, further impacted by the ongoing price drops in major cryptocurrencies like Bitcoin. Caution is likely to prevail among investors for the foreseeable future.
AI Analyst
AI Opinion
"The fact that BNB is trading below $900 reflects the overall instability of the market. While the recent upgrade could be beneficial for the BNB ecosystem in the long run, the current economic climate and uncertainty in the crypto market have a strong impact. Many traders are adopting a risk-averse stance, raising concerns over further outflows from the market. Moreover, any short-term rebound will likely depend on the movements of major cryptocurrencies like Bitcoin."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.