4 Negative Changes Affecting BNB
2024-12-03

The success of many projects depends on talented leaders. After Changpeng Zhao (CZ) left the post of CEO of Binance, the financial results of Binance started to deteriorate. Demand for the Binance Smart Chain (BSC) has also decreased. BNB is used for BSC transactions. Recently, Changpeng Zhao said that he does not want to return to the post of CEO of Binance.

Bitwise Asset Management has filed an application with the US Securities and Exchange Commission (SEC) to launch the "Bitwise 10 Crypto Index ETF," an exchange-traded fund that aggregates ten cryptocurrencies.

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Solana (SOL)
Cardano (ADA)
Avalanche (AVAX)
Chainlink (LINK)
Polkadot (DOT)
Bitcoin Cash (BCH)
Uniswap (UNI)



It should be noted that BNB is not on this list. Bitwise Asset Management did not include BNB, considering it unsuitable.

In early November, BNB was ranked 4th in market capitalization, but since then, it has been overtaken by XRP and Solana.

According to analysts at Santiment, BNB's volatility has been declining recently. This suggests that the stagnation preventing this cryptocurrency from experiencing significant price fluctuations is likely to continue in the near future. Under such conditions, it will be difficult for Binance Coin's price to rise above $600.

Santiment is an analytics platform that offers data and tools for analyzing cryptocurrency markets. It focuses on providing in-depth analysis based on blockchain activity, social media trends, and market metrics.

 Technical Analysis 

The 'Rising Wedge' pattern suggests a price drop to $518.



 Summary 

BNB may disappoint its holders. However, opening a short position at this point may be too risky. It is currently a bull market, especially in the long term. Many people expect the start of an altcoin season, which could raise the price of BNB. However, BNB's price in this bull market is expected to rise less significantly compared to other altcoins.