CandleFocus

BNB price is beating Ethereum and Bitcoin; CZ responds

Binance Coin (BNB) has reached an all-time high of $794, outperforming coins like Ethereum and Bitcoin in the last 12 months. The coin's strong performance is attributed to its fundamentals and technicals, including its role in the DeFi ecosystem and burning of coins. The launch of a stablecoin with high yields and the resolution of regulatory concerns have also contributed to BNB's rally. Technical indicators suggest a potential 70% rally with a target price of $1,170, but a drop below the support level at $625 would invalidate the bullish outlook.

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