Crypto markets have been in freefall over the past 24 hours following the revelation that FTX may be suffering from liquidity problems.
With the acquisition of the FTX exchange by Binance completed, market participants still seem to be baffled by recent events as the deal is not yet set in stone.
At the time of writing, BNB is at $300, down 7% the previous day. In particular, the coin is performing better than other coins in the market, which are down by double-digit percentages in 24 hours. Can BNB be the biggest coin? Read on to learn more.
BNB price prediction
BNB’s technicals are holding up well so far compared to the rest of the market. BNB at $300, down 7% per day, the 24-hour trading volume exceeds $6.5 billion.
This figure is higher than usual, but not surprising in the light of recent events. Market participants seem to be excited about the future prospects of BNB coin, along with the potential for Binance to acquire one of its competitors.
When the news first broke that Binance was looking to acquire FTX, BNB rose sharply to below $400. However, as it became clear that this agreement is not yet set in stone, the price fell in the broader crypto markets.
BNB is trading above the current 36, 50 and 200-day moving averages (yellow, orange and green), which has provided strong support so far. BNB is also consolidating at levels that have held up well in the past and made significant rallies in the past.
If more positive news emerges regarding the FTX drama, then BNB has a real chance of continuing its sustained rally from the June lows.
The relative strength indicator (blue) is now in the neutral zone, and it shows the market’s wait-and-see sentiment.
A large amount of liquidity may be waiting for BNB at the $250 level, which is a circular, psychological level.
BNB may need to revisit these levels before continuing to rise to new heights. If the exchange can play its cards right, it has a chance to become the top crypto coin in the world at some point in the future.
These other coins are giving faster returns.
BNB is a well-proven coin with a large market cap, which means it will take a long time to provide significant returns to its investors.
One of the most promising sources of good returns (even during a bear market) is new coins holding their presale sales.
For example, Tamadoge (TAMA) rose 1,800% (compared to its pre-sale price) following a high-profile listing on the major exchange OKX in October.
This gives a glimpse of what the most promising new altcoins can do when they first list. Here is a selection of new altcoins with strong fundamentals that are now holding their own token sale.
Dash 2 Trade (D2T)
Dash2Trade is an Ethereum-based trading intelligence platform that provides real-time signals and analytics to help investors make more informed decisions. The token sale started three weeks ago and Now it has collected more than 5.7 million dollars.
Recently announced The first CEX listing on the LBank exchange.
The token is currently sold at $0.0513 but this price will increase to $0.0533 in the next pre-sale phase.
Visit Dash 2 Business now
IMPT
Also powered by Ethereum, IMPT is a carbon credit marketplace where users can earn and trade NFT-based carbon offsets by purchasing them with multiple ecosystem retailers.
The Carbon Credit Token aims to make the carbon credit marketplace more transparent, making it easier to see when credits are being traded and retired.
IMPT pre-sale is now available. He collected 12.5 million dollars A few weeks after its launch, 1 IMPT currently sells for $0.023.
The price then rises to $0.0280 in the next phase of the pre-sale, which means that early investors have the opportunity to make huge profits when it is finally listed on the exchange.
Visit IMPT now
Calvary (RIA)
Calvary (RIA) is a new play-to-find game that allows players to earn rewards and battle with NFT-based collectible cards. What sets it apart from other blockchain-based games is that it allows users to play without holding any crypto.
The RIA token can be used to buy and sell in-game items, meaning that the price can increase significantly as the platform becomes more popular.
1 USDT currently buys you 40 RIA tokens but the price will increase as the presale continues.
With more than $1.6 million raised, the future of the platform looks bright.
Visit Calvary now