The price of Binance Coin (BNB) has resumed its upward trend, reaching $876 and continuing to rise due to positive market signals. The key reasons for this growth include technical indicators, an increase in market share in real asset tokenization, and the potential approval of BNB ETFs.
Technical Analysis of BNB
Technical analysis suggests that the BNB price has the potential for gains up to $1000 and beyond. The daily timeframe chart indicates that the coin is at a resistance level, which may lead to a surge up to $937. Additionally, the price remains above the 50-day Exponential Moving Average, indicating strong technical fundamentals.
BSC's Growth in Real Asset Tokenization
The BNB Chain has become a significant player in the real asset tokenization sector. In the last 30 days, the total value locked in its ecosystem has increased by 345%, exceeding $365 million. The rise in stablecoin volume on the BSC Chain is also indicative of growth, reaching $7.79 billion.
Chances of BNB ETF Approval
There is a likelihood that the SEC will approve several of the filed ETFs on BNB, which could further support price growth. This week, the first BNB staking ETF application was submitted, which could become a significant event for further increases.
In conclusion, the rise in BNB's price is driven by both technical indicators and growing interest in real asset tokenization. Expectations for ETF approvals may create additional incentives for price increases.
