- BNB Surpasses Ethereum in terms of TVL
- BNB’s latest partnership in the GameFi space could give BNB a much-needed push
binance coin [BNB] Surpass Ethereum [ETH] The same is true for Total Locked Value (TVL). According to BNB official Tweetits TVL increased slightly this quarter at 8.22% compared to Ethereum’s 0.45% increase.
TVL increased slightly at 8.22% in the quarter, compared to Ethereum’s 0.45% increase.
[11/12] pic.twitter.com/ec1bl4wlAo
— BNB Chain (@BNBCHAIN) December 11, 2022
BNB’s TVL took the northbound route, but the coin’s price action fell short of target as it registered a negative 5% gain in seven days. According to CoinMarketCap, at the time of writing, BNB was trading at $281.38, giving him a market capitalization of over $45 billion.
However, CryptoQuant’s data revealed a major bullish signal.
read binance coin [BNB] price prediction 2023-2024
Assess BNB status
According to data from CryptoQuant, BNBThe probability theory is in an oversold position, suggesting a possible trend reversal. Additionally, BNB’s partnership with LitLab Games could boost the price of the BNB token.
📢 @LitLabGames announced a partnership with @BNB chain To boost game development into the blockchain ecosystem!
LitLab Games is the first esports developer and publisher to launch a game backed by blockchain technology. #Cryptbased economy.#BNB #BSC #Web3 $LITTLE $BNB pic.twitter.com/6sPOzb002h
— BNB Swap (@BNBSwap) December 11, 2022
Data from on-chain intelligence platform Santiment also favored BNB, leaning in favor of investors. BNBThe Market Value to Realized Value Ratio (MVRV) is fairly low, which may indicate a market bottom.
BNB was also popular in the crypto space as its social volume surged last week.
Source: Santimento
Will BNB run with the bulls?
BNBThe Daily chart of the market reveals that the bulls and bears are fighting to beat each other. For example, the 20-day exponential moving average (EMA) and his 55-day EMA are closely tied, indicating an ongoing struggle.
The same was true for Moving Average Convergence Divergence (MACD). The indicator was similar to his EMA Ribbon indicator. BNB’s Chaikin Money Flow (CMF) posted a slight drop, which was a bearish signal.
However, the Money Flow Index (MFI) has rebounded and moved higher. This suggests a possible trend reversal in the coming days.
Source: Trading View
