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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

BNB Flips Solana’s Market Cap Amid Market Retrace – Breakout To $700 Coming?

Rubmar Garcia
Rubmar Garcia
4 months ago
3 mins read
dogwifhat, WIF, Celestia, Solana, tron, BNB, chainlink

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Amid today’s market retrace, BNB is leading the market with a 9% surge and surpassed Solana after flipping the cryptocurrency’s market cap. Some analysts suggest BNB’s breakout could attempt to reclaim the $700 level and target new highs.

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4 months ago

BNB Leads The Crypto Market

On Wednesday, the crypto market recorded another retrace, with Bitcoin (BTC) falling to a one-week low of $94,000. The rest of the market registered red numbers, with most cryptocurrencies in the top 10 bleeding.

Meanwhile, BNB, previously known as Binance Coin, swan against the current today, jumping to a 12-day high of $689. The cryptocurrency had a strong Q4 2024 after reclaiming the $700 resistance as support and reaching an all-time high (ATH) of $750 in December.

Nonetheless, the start-of-year retraces halted BNB’s momentum, sending the cryptocurrency below the $700 mark on Inauguration Day to hover between the $680-$660 price range.

The DeepSeek correction further saw the cryptocurrency nosedive to its lowest valuation since September. BNB momentarily fell to $500, driving the market sentiment into uncertain territory.

Since then, the cryptocurrency has climbed 34% from the recent lows, steadily recovering key support zones. Today, the token jumped 9%, retesting the $660 and $670 resistance zones for the first time in 12 days.

The surge saw BNB lead the crypto market, being the only token in the top 10 by market capitalization (MC) to record gains throughout Wednesday morning. Additionally, the cryptocurrency flipped Solana as the fifth-largest cryptocurrency by market cap after hitting $96 billion.

BNB
BNB flips Solana as the fifth-largest cryptocurrency by market cap. Source: CoinGecko

On-chain data analysis firm Lookonchain noted that the BNB chain has processed 68.3 million transactions in the past 30 days, making it the top EVM chain by 30-day transactions.

Breakout To $700 Around The Corner?

Crypto analyst Ali Martinez pointed out that BNB could be gearing up for a massive move as it approached a key resistance zone between the $660 and $680 levels.

According to the post, the cryptocurrency is facing “multiple technical hurdles” within this zone, including the 200, 100, and 50 Simple Moving Average (SMA), the 0.382 Fibonacci retracement, the TD Sequential resistance trendline, and the TD Sequential risk line.

The analyst stated that breaking through these levels could “signal the next major move.” Meanwhile, analyst Elja Boom suggested that BNB could be about to follow its 2021 playbook.

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Ethereum Holds ‘Bounce Or Die’ Level: Rebound To $4,000 Could Be Near

4 months ago

The analyst highlighted that the cryptocurrency is following the same breakout structure and trajectory as four years ago, which could indicate a potential surge to new highs is around the corner.

BNB is attempting to reclaim its monthly opening level and retest the $700 barrier. A surge above this level could send the cryptocurrency to its two-month downtrend line and “push for the bullish reversal once again.”

As of this writing, BNB is trading at $687, surging 7.2% and 21% in the daily and weekly timeframes.

BNB, BNBUSDT
BNB’s performance in the two-week chart. Source: BNBUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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