Binance Coin Is Seeking a Path to $700
Binance Coin (BNB) is down 2.9% this week, trading at $586.00, paralleling Bitcoin (BTC), which has also declined by 2.9% to $66,200. Despite this rollback, BNB's price movement remains robust, following an uptrend established on December 11, 2023, a trend not many cryptocurrencies can boast.
Currently, BNB is testing the $600 resistance level with heightened volatility. The altcoin has a strong chance of surpassing this resistance and moving towards $700, driven by high transaction activity on the Binance network. Additionally, Binance's recent burn of $971 million worth of BNB in its 28th quarterly token burn is a positive factor for BNB prices.
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