Long-term holders of BNB remain optimistic despite a 7% price drop since the news of the CFTC lawsuit against Binance. On-chain data provides evidence that investors are remaining patient, as the Mean Coin Age has increased by 52% since March 9. Additionally, daily active addresses on the network have risen by 20%, hinting at the network's sustained fundamental value. Finally, Market Value to Realized Value (MVRV 30d) depicts that investors have the potential to lock in a profit of 29% should the BNB market hit $363. If not, investors have the potential to make 12% at $342, while they should stop selling once the price dips below $282 to avoid losing their profits. All things considered, Binance's native coin has the potential to rebound in the near future.
Leo Price
- 2023-04-04
On-chain data suggests long-term BNB investors remain optimistic
On-chain data reveals that long-term BNB investors remain optimistic despite a 7% drop in price since the news of the CFTC lawsuit against Binance. Market Value to Realized Value (MVRV 30d) suggests BNB investors have the potential to make a sizable profit.
