Binance Coin Price Eyes $1K on BNB Treasury Boom, ETF Approval Hopes
The post Binance Coin Price Eyes $1K on BNB Treasury Boom, ETF Approval Hopes appeared on BitcoinEthereumNews.com. Binance Coin price continued its strong bull run this week as it surged to a record high. BNB has soar in the last three consecutive days, invalidating a bearish chart pattern. This growth may continue in the near term as bulls target the crucial resistance at $1,000 amid the ongoing BNB treasury boom. Binance Coin to Benefit Amid the Ongoing Treasury Boom One of the main catalysts for the Binance Coin price is that it could see robust demand from companies seeking to set their own BNB treasuries, one of the top trends in the crypto industry this year. BNC, a company listed in the Nasdaq, has become one of the top BNB accumulators. BNB bought 200,000 coins, now valued at over $171 million. Its purchasing will likely accelerate when it raises $1.75 billion this year. WindTree Therapeutics plans to spend $700 million in BNB buying, while Liminatus will acquire tokens worth $500 million. All this buying will lead to more demand for the coin. The ongoing treasury demand is on reason why some top cryptocurrencies like Bitcoin and Ethereum have soared to all-time highs. There are now over 100 Bitcoin treasury companies, while firms like SharpLink and BitMine are accumulating Ethereum. At the same time, there is a likelihood that the Securities and Exchange Commission (SEC) will approve the VanEck BNB ETF later this year. Besides, BNB is a proof-of-work (PoW) layer-1 network like Ethereum, which already have ETFs. A BNB ETF would likely have institutional demand because of its strong fundamentals. For example, BNB is highly deflationary, burning tokens worth over $4 billion a year. Its goal is to reduce the number of tokens in circulation to 100 million. BSC is also a highly liquid token with daily volume worth over $3.5 billion. Liquidity is important because it…
The post Binance Coin Price Eyes $1K on BNB Treasury Boom, ETF Approval Hopes appeared on BitcoinEthereumNews.com.
Binance Coin price continued its strong bull run this week as it surged to a record high. BNB has soar in the last three consecutive days, invalidating a bearish chart pattern. This growth may continue in the near term as bulls target the crucial resistance at $1,000 amid the ongoing BNB treasury boom. Binance Coin to Benefit Amid the Ongoing Treasury Boom One of the main catalysts for the Binance Coin price is that it could see robust demand from companies seeking to set their own BNB treasuries, one of the top trends in the crypto industry this year. BNC, a company listed in the Nasdaq, has become one of the top BNB accumulators. BNB bought 200,000 coins, now valued at over $171 million. Its purchasing will likely accelerate when it raises $1.75 billion this year. WindTree Therapeutics plans to spend $700 million in BNB buying, while Liminatus will acquire tokens worth $500 million. All this buying will lead to more demand for the coin. The ongoing treasury demand is on reason why some top cryptocurrencies like Bitcoin and Ethereum have soared to all-time highs. There are now over 100 Bitcoin treasury companies, while firms like SharpLink and BitMine are accumulating Ethereum. At the same time, there is a likelihood that the Securities and Exchange Commission (SEC) will approve the VanEck BNB ETF later this year. Besides, BNB is a proof-of-work (PoW) layer-1 network like Ethereum, which already have ETFs. A BNB ETF would likely have institutional demand because of its strong fundamentals. For example, BNB is highly deflationary, burning tokens worth over $4 billion a year. Its goal is to reduce the number of tokens in circulation to 100 million. BSC is also a highly liquid token with daily volume worth over $3.5 billion. Liquidity is important because it…
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