Binance Coin (BNB) finds itself in a precarious position, with its price rebound heavily contingent on a resurgence in network activity for BNB Chain. The decline in network activity has played a pivotal role in hindering price momentum for BNB, leaving investors and enthusiasts eager for a turnaround.
BNB’s recent price action has been characterized by extended periods of sideways movement. The bears have proven resilient at the resistance level, preventing prices from breaching the $225 mark.
Currently, BNB is trading at $216.80, according to CoinGecko, with 24-hour gains of a modest 0.8%. Over the past seven days, the coin has seen a marginal decline of 0.1%, leaving investors and enthusiasts eagerly awaiting signs of a potential price rebound.
BNB Hinging On Bitcoin’s Performance
For bulls hoping to witness an upward movement in BNB’s price, their hopes might rest largely on Bitcoin’s shoulders. A significant breakthrough for Bitcoin above the $26,000 mark could inject mu
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