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The Binance Coin price surged 13% in the last 24 hours to trade at $705 as of 4 a.m. EST on trading volume that skyrocketed 77% to $5.26 billion.
The native cryptocurrency of the Binance exchange also hit a new all-time high several hours earlier, when it reached the price of $711. The coin saw a stealth rally while all eyes were on Bitcoin, Ethereum, and meme coins.
Celebrating $BNB reaching a new all-time high! 🎉 pic.twitter.com/EHXXwaLqUm
— BNB Chain (@BNBCHAIN) June 5, 2024
Thanks to Binance’s continued dominance in the crypto exchange arena and the BSC ecosystem’s growing popularity, the coin had plenty of reasons to head up.
Binance continues to expand its offerings, partner with other projects, and make strategic acquisitions and investments in new technologies.
Exciting growth in the BNB Chain ecosystem! 🤩
With over 1.1 million attestations across BNB Chain & opBNB from @BASCAN_io, these numbers reflect the increasing trust and engagement within our amazing community.
Check out the full statistics below 👇 https://t.co/AIsM5o3gcO
— BNB Chain (@BNBCHAIN) June 4, 2024
The exchange continues to build a strong relationship with its community and other major crypto-related entities, and despite the troubles it experienced over the years, it remains the world’s largest crypto exchange.
Binance Coin Price Prediction
Binance Coin (BNB) skyrocketed in the past 24 hours, which further contributed to its growth which started at the beginning of June. However, while BNB saw tremendous success in the last five days, the question now is whether it can continue to pump, or if its price will soon turn around and start correcting.
There is no doubt that Binance Coin price has made a massive surge that was very rewarding for its holders, but looking at certain technical indicators, it is possible that those holders might soon try to take profit by overselling the coins.
The BNB Relative Strength Index (RSI), for example, seems to be in the overbought zone which many might take as a signal to start selling. The 30-minute chart’s data shows that the RSI value was much higher mere hours ago, reaching the value of 90 around the time when BNB was at its all-time high.
Since then, it has corrected slightly to 71, not unlike the price itself. However, this is only a hint of what might come, as major sharp surges typically see major corrections, as well. The only way for this not to happen would be if the crypto industry suddenly exploded in a new massive price rally such as the ones seen in 2021 and 2017 before that.
On the other hand, the coin could continue to grow, or at least maintain its current price if the hype continues. Indicators like Bollinger bands show that the market is currently still optimistic, with the BNB price closer to the upper band, which is encouraging.
The bands are also quite wide, which is another bullish signal. But, this contrast with the RSI behavior suggests that great volatility might be coming, so anyone working with BNB should be cautious in the hours and even days to come.
Promising Alternative to Binance Coin
While Binance’s price surge was impressive, there is another project that users might consider for its massive potential.
The project in question is eTukTuk, which offers an exciting P2E game that was inspired by Crazy Taxi and that is now available on Android and iOS.
It allows players to take over the role of an eTukTuk driver and let loose on the busy streets of Sri Lanka. Here, they can perform quests, engage in races, and earn TUK tokens.
TukTribe, are you ready to customize, race, and earn with your virtual eTuktuks in the most eco-friendly and exhilarating game ever? 🛺💚
Every race you win helps us drive sustainability, innovation, and carry us through the end of the presale and $TUK listing on a major… pic.twitter.com/kM1OVfp75i
— eTukTuk (@eTukTukio) June 4, 2024
The tokens can then be withdrawn to a wallet or used in-game to unlock new cities, customize your eTukTuk, and more.
Meanwhile, the project’s presale is skyrocketing as it closes in on $3.5 million raised.
Crypto YouTuber Jacob Crypto Bury, who has over 40k subscribers, speculated that this could be the next 10x potential cryptocurrency.
The presale is offering TUK tokens for only $0.0325 apiece, and you can buy them with ETH, BNB, USDT, or credit/debit cards. The token will see its next price increase in only four days, so the best time to buy is before that happens.
Buy TUK tokens on the official website here.
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