BNB is Surging to $300
The Binance Coin (BNB) is surging by 12.0% to $272 this week. This is a robust growth, outpacing the broader crypto market. In contrast, Bitcoin (BTC) added modestly 4.5% to $43,800 during the same period.
BNB has historically been a laggard, facing prolonged challenges. The coin trailed significantly due to heightened regulatory scrutiny on the crypto exchange Binance and its former CEO Changpeng Zhao by U.S. authorities. The coin has a record gain of 29%, while BTC surged by 60% during the same period.
The resignation of Zhao has alleviated some of the pressure. This Tuesday, a Kepler hardfork was tested. It’s aiming to enhance compatibility with the early Ethereum Shanghai update. However, the primary target is to diminish apprehensions among investors regarding Binance Coin. The Kepler update on the primary Binance Smart Chain network is scheduled on January 23. This development gives BNB a favorable outlook in the coming month. Breaking through the $250 support level, the coin now targets the next resistance at $300.
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