Leggi questo articolo in Italiano
Binance Coin down, however...
By Gabriele Brambilla
Binance Coin, in shape for a long time, is not escaping crypto's bad moment. Looking at the chart, though, the situation is not so bad
The current status of BNB
Binance Coin is the native currency of the famous exchange Binance, also used as gas fee on BSC, a prominent blockchain for the DeFi world. After a period of very strong growth, BNB is also losing ground, following most of the prominent cryptocurrencies.
In December 2024, after a long and triumphant ride, the coin reached its ATH, even reaching $800 per unit. After that, a long period of lateralization made us bored until the beginning of February, when the valuation lost a lot of ground in the space of 4/5 days. After that, BNB reacted well, recovering in the space of a few days.
Unfortunately, from mid-February we then entered a bearish phase in the short term. From a value of $700, the currency lost a good $150 (today it is in fact trading at $550).
BNB/USDT chart by TradingView
The downward price movements also affect the market capitalization, which at its peak in December was close to 110 billion dollars, while today it stands at just under 80. Here is a useful graph from CoinGecko showing the market cap trend over the last year.
Investors in the coin are certainly not happy at this stage, but we need to remember where we started, what is happening and where we might go.
The outlook for BNB
First, those who entered with correct timing are still largely in the positive. This is demonstrated by the numbers, as shown by the same chart seen in the previous paragraph, but positioned from late 2022 to the present.
We know it’s always very difficult to buy at the lowest price, but let’s see what the difference is between the lows reached in 2023 and the current price: +172%. This means that an investment made during that period would have brought in huge profits. But the advantages would also have been there if you had bought later, it’s difficult to end up with a loss if you haven’t entered the full hype phase (which is always a mistake).
We are writing this for one simple reason: if everything goes down, we don’t have to suffer excessively in the moment. Cryptocurrencies are very volatile and sensitive, but today’s levels are, at least for a good portion of coins and tokens, higher than in the past. Let’s think about bitcoin, now “only” at 81,500 dollars, a level that we had never reached before November 2024. After all, a year and a half ago we were below 30,000 dollars.
Having said that, we repeat that this is a particular moment and it is not only cryptocurrencies that are falling. The American markets are not having a good period and the specter of recession is quite frightening. If we also add the price surge, this creates a negative mix for investments.
At this point, where could we go? For now, it’s impossible to know, but things can take a different turn in the blink of an eye. Let’s proceed with caution, minimize risks and, if we are holders, let’s consider the possibility of covering ourselves against losses.
Where to buy BNB?
Binance is the number 1 exchange for buying BNB. As well as paying reduced commissions, owning BNB gives you the opportunity to join services such as the Binance HODLer Airdrop, which is particularly appreciated by users.
If you want to create your own account (it’s free), you can use our referral link and save even more: you can get a discount of 20% on fees forever.
Other alternatives, where you can find BNB, are Bybit and Bitget.
Moving into the DeFi world, we recommend using the aforementioned BNB Smart Chain.
