Connect with us


Can Binance Coin’s big plans of 2023 salvage BNB’s short-sighted dreams?



BNB’s new hard fork is expected to happen early in 2023, but can it help BNB in the short term? 
Source: StockAI

  • BNB announces new partnership in the GameFi ecosystem
  • However, BNB’s price painted a different colour on the chart at press time

Binance Coin [BNB] recently published an update related to its BNB Beacon chain. As per the announcement, the BNB Beacon Chain testnet was expected to have a scheduled hard fork upgrade at block height 34,587,202 and 34,963,303.

Considering the current rate of block generation, the hard fork is anticipated to take place on 2 January 2023. After the release of the hard fork, validators must switch to v0.10.4. 

Read Binance Coin’s [BNB] Price Prediction 2023-24

More fuel to the fire 

BNB further announced a few other partnerships that had the potential to boost its offerings and capabilities on multiple fronts. The latest one being the collaboration with GAMEFI.

Together they will work on GameFi dApp development, technical research, and community growth, giving BNB an edge in its GameFi ecosystem. Group gaming sessions, Web3 debates, and contests that both communities could enter will be another outcome of this partnership.

How many BNB’s can you get for $1?

Where does BNB stand on the spectrum?

While all looked in favor of BNB, its performance on the price front had a different tale to tell. According to CoinMarketCap, BNB’s price declined by more than 1.2% over the last week. Furthermore, at press time, it was trading at $244.81 with a market capitalization of over $39 billion. 

Furthermore, Santiment’s data painted a clearer picture regarding which direction BNB was headed. BNB’s Market Value to Realized Value (MVRV) Ratio registered an uptick over the last week. This could be considered as a positive as it suggested a price increment in the days to come.

After a decline, BNB’s volume also chose to follow the same path, and witnessed a slight uptick. However, BNB’s popularity was affected despite these promising updates. This was because the coin’s social volume registered a decline.

Additionally, LunarCrush’s data revealed that BNB’s volatility witnessed a dropdown. This could decrease the chances of a sharp price breakout anytime soon. 

Source: Santiment

Read the best crypto stories of the day in less than 5 minutes

Subscribe to get it daily in your inbox.

Please select your Email Preferences.

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.