The sharp rise in the price of BNB continues, with the asset setting a new all-time high above $280.
Despite the possibility of BNB correcting in the short term, technical indicators indicate that the price of the coin is not yet close to the top of the current upward movement.
Back on January 22, BNB was trading around $38. Over the month, its price increased by 431%. Binance Coin has already surpassed Tether in terms of capitalization and now ranks 3rd in the Coinmarketcap ranking.
The Binance Smart Chain (BSC) blockchain is gaining popularity, having received a significant boost from the development of the DeFi space and high Ethereum fees. The number of transactions on the BSC network is already almost double that of Ethereum.
The situation for XRP is not developing so well. Despite a slight increase in recent days, XRP fell back to seventh place. The prospects for XRP are uncertain as the legal battle between Ripple and the SEC continues. The question of recognition of XRP as a security by the regulator may remain open for many months, scaring off investors.
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