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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Up 700% in Q1, BNB’s next rally could be one for the “history books”

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Binance BNB

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Crypto research firm Messari released this Q1 Performance Recap, the undisputed winner on the top assets was Binance Coin (BNB) with an astonishing 709% in profits. Followed by ADA (557%) and UNI, BNB seems ready to continue its rally.

Conducted by researcher Roberto Talamas, he concludes Binance Coin’s rally was fuel by the emergence of the Binance Smart Chain (BSC). Taking market share from Ethereum, BSC became a cheaper and faster option for some users.

Binance BNB
Source: Messari

In parallel, the token leveraged Binance high trading volume “and earnings fueled by white-hot crypto markets”, according to Talamas. One of BSC’s most popular protocols PancakeSwap also was of the top winners these past months. The researcher claimed:

Binance Smart Chain has quickly become the most used smart contract platform next to Ethereum and has benefitted from Ethereum’s rising transaction fees, and accelerated volumes and earnings fueled by white-hot crypto markets. These developments created the perfect environment for BNB to reach new all-time highs.

PancakeSwap’s native token CAKE made 3,031% gains, ranking it in the top position of the best performing DeFi assets.

Binance Coin BNB
Source: DeBank

BNB from the traders perspective

At the time of writing, Binance Coin is trading at $442 with 6.3% profits in the 24-hour chart. In the 7-day chart, the token has 32.8% profits and 50.2% in the past month.

Binance Coin BNB
BNB with moderate gains in the 24-hour chart. Source: BNBUSDT Tradingview

Although BNB dropped from its ATH at $448, trader “Kaleo” was expecting a vertical breakout due to a pattern spotted in its price. The token has a period of a massive rally, shakeout, and a new push to ATH.

In the short term, BNB could experience a period of accumulation as it prepares for the next rally, Kaleo said:

All in on $BNB and $FTT (…) One more flight. One more leg up for BNB and FTT.

Trader “Bitcoin Printer” is bullish on Binance Coin and has set support at the current levels. Losing them could mark a “pause in the party”. Otherwise, BNB could go north of $510 with more upside in the coming months. The trader said:

IF RSI breaks out and invalidates the bear div.. holy moly.. It seems to happen.. this is insane.. but also 161,8% extension.

In the medium term, Binance Coin’s profits will be determined by its capacity to maintain competitiveness with Ethereum’s optimism rollout with Uniswap v3 deployment. Set for early May, the new features and cheaper transactions could reverse BSC and PancakeSwap’s edge.

Now, PancakeSwap has the top position in daily trading volume with $967 million followed by Uniswap v2 with $799.  Analyst Checkmate said the following on BNB’s future:

Straight up, the single biggest upset this bull could deliver would be a BNB flip of ETH. Even if it was just for a day, it would be one for the CT history books.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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

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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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