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Binance (BNB) Price Analysis: On-chain Data Shows Rise In Demand for the BNB Coin, Will BNB Outperform BTC?

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Why Is Binance Coin (BNB) Price Surging? Among many reasons recent 1 billion USD fund for project development of DApps on the Binance Smart Chain [BSC] is one major catalyst fueling the BNB price. 

The crypto data tracking service, Santiment spotted an increase in demand for BNB on wallets with BNB whales acquiring roughly 412K BNB in recent weeks. The move shows that big money remains bullish on the BNB coin in the face of regulations.

The BNB burn protocol is another interesting bullish catalyst for the BNB token price as the bulls hold on to their positions in wait for this event.

A dive into the price chart should also give us further insights into significant patterns and technical drivers of the BNB price.

Binance (BNB) Weekly Chart Analysis

Both bearish and bullish divergence price vs. oscillator patterns keeps the BNB price hovering within the $680 resistance and $211.70 support. 

The recent bear trap candlestick pattern on 20 September prepares a bullish tone for a price increase beyond the $509.90 resistance and heading to the $680.00 ATH.

The RSI [4] couldn’t reach level-25, which therefore represents a bullish outlook for the BNB price.

A breakout above the $680 resistance could see the BNB price rising into four-figure price zones for the first time.

Binance (BNB) Daily Chart Analysis

Following a collapse of hidden bullish divergence trend lines on 07 September ‘21, the BNBUSDT price slumped by roughly 23%, then quickly reversed to the upside by an opposing regular bullish divergence on 28 September ’21.

The bulls have re-established control as the RSI enters the overbought area for the second time at press time.

Meanwhile, an impending bearish divergence setup is projected around the $518.90 resistance. On the other hand, a surge in bullish momentum may see the RSI shooting beyond the 85-level, therefore, nullifying the anticipated reversal pattern.

Binance (BNB) 4HR Chart Analysis

The 4HR time frame follows a similar price dynamics as the daily time frame with an opposing regular bullish divergence on 12 October ’21 at 08:00. This led to a parabolic upswing for the BNB price and soaring above the 07 October 12:00 resistance [$446.60].

Raging bulls could use the old $446.60 resistance as new support, which is a possible upward scenario for the BNB price. A prolonged correction phase could see the price dropping to the $424.00 support.

Binance (BNB) Intraday Levels

  • Spot rate: 468.4
  • Mid–Term Trend [H4]: Strong Bullish
  • Volatility: High
  • Support: $392.20, $424.0, and $446.60
  • Resistance: $473.0 and $518.90

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/binance-bnb-price-analysis-on-chain-data-shows-rise-in-demand-for-the-bnb-coin/

Blockchain

Why Nigeria Has The Highest Percentage In Bitcoin Usage In The World

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Nigeria Bitcoin Community

Twitter CEO Jack Dorsey posted that Nigeria is one of the world’s largest users of cryptocurrencies.

We are talking about the percentage of the country’s residents who are actively using digital finance to the total number of citizens.

In Nigeria, that percentage is 32%!

They use it in shopping, making les paris sportifs au Senegal on popular sports, investing and mining.

According to the analytics platform Statista, Nigeria does rank first among countries whose residents use bitcoin.

In second place are residents of Vietnam (21%), followed by the Philippines with 20%.

Also on the list of countries where Bitcoin (BTC) is popular are Turkey, Peru, Switzerland, India, China, the United States, Germany, and Japan.

Perhaps Nigeria’s leadership is due to the fact that the country’s authorities — for example, Nigeria’s Vice President Yemi Osinbajo — have repeatedly stated their support for cryptocurrency.

In his tweet about bitcoin being popular in Nigeria, Jack Dorsey mentioned writer Samantha Messing.

She published an open letter titled “Why Progressives Should Love Bitcoin.”

In this letter, it was noted that any Nigerians’ interest in cryptocurrencies is primarily due to the deplorable state of the country’s financial industry and the peculiarities of the local population.

“Nigeria’s population is one of the youngest in the world,” the letter’s author notes, suggesting that it is youth and flexibility that allows Nigerians to be as progressive as possible in order to appreciate the new opportunities that Bitcoin gives them.

Samantha Messing evidently wants as many people as possible to learn about Bitcoin, so she tries to popularize digital gold in every possible way.

In her letter, the author even published several links to educational programs concerning Bitcoin, because she wants people to really understand it.

As the Nigerian naira falls in value, bitcoin is becoming a real lifesaver for the population.

The figure of 32% of the country’s population owning bitcoins is, indeed, the highest percentage in the world.

The popularity of cryptocurrencies in Nigeria is also confirmed by other data, such as the fact that in 2020, remittances to Nigeria exceeded $17 billion and a significant portion of that amount was transferred in cryptocurrency.

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Source: https://medium.com/nigeriabitcoincommunity/why-nigeria-has-the-highest-percentage-in-bitcoin-usage-in-the-world-cf06d9788263?source=rss——cryptocurrency-5

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Bitcoin non è una moda, lo dice il CEO di Morgan Stanley.

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Conio Team

Fonte: Cryptonomist

Il CEO di Morgan Stanley, James Gorman, ha affermato che Bitcoin non rappresenta solo un’usanza del momento. “Non credo che Bitcoin sia una moda passeggera”, ha detto Gorman la scorsa settimana agli analisti durante l’assemblea sugli utili del terzo trimestre. “Non so quale dovrebbe o non dovrebbe essere il valore di Bitcoin. Ma non andrà via e la tecnologia Blockchain che lo supporta è ovviamente molto reale e potente”.

Gorman ha aggiunto che l’azienda sta fornendo ai clienti l’accesso alle criptovalute attraverso vari fondi, ma non le scambia direttamente per loro. “Stiamo attenti, siamo rispettosi e aspetteremo di vedere come se la caveranno i regolatori”, ha concluso Gorman.

Lo scorso giugno ha inoltre formalizzato la richiesta per la creazione di un nuovo fondo di investimento in Bitcoin, in risposta all’esigenza di clienti istituzionali che volevano esporsi alla criptovaluta. Questi fondi permettono agli investitori di esporsi su Bitcoin senza acquistarlo direttamente, come l’ETF appena approvato negli Stati Uniti.

Morgan Stanley è stata la prima banca a consentire ai clienti l’accesso al settore ai propri clienti. Altre istituzioni affermate, tra cui JPMorgan, Goldman Sachs e Citigroup, stanno cercando di espandere la propria presenza nello spazio delle criptovalute. Goldman consente a determinati clienti di scambiare criptovalute attraverso un prodotto derivato e Citigroup sta cercando di iniziare a negoziare criptovalute attraverso un fondo. JPMorgan invece consente ai clienti di accedere a sei prodotti di investimento in criptovalute.

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Source: https://blog.conio.com/bitcoin-non-%C3%A8-una-moda-lo-dice-il-ceo-di-morgan-stanley-fdc00222e808?source=rss——cryptocurrency-5

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Open DeFi: Risk Management Notification Protocol by Binance, Orbs & Moonstake

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Finally available for DeFi investors from tomorrow onwards, the renowned Defi.org Accelerator – a Joint Venture project co-created by Orbs, Binance and Moonstake – proudly announces the launch of their chain-agnostic Risk Management Notification Protocol for mobile devices.

This unique Open DeFi Notification Protocol comes to life to allow investors and DeFi users to manage their operations in the decentralized finance universe reducing their loss risks to a minimum especially during market volatility.

Open DeFi: Helping DeFi Traders Reduce Risk

The Open DeFi Notification Protocol permits users to set up any number of alerts for different DeFi apps.

Orbs, the public blockchain platform, announced the launch of the Open DeFi Notification Protocol, a key application product especially created to assist users with unlimited free mobile notifications for impactful on-chain events.

This unique Open Notification Protocol was developed within the DeFi.org organization, co-created by the Orbs blockchain platform, Binance crypto exchange and Moonstake crypto wallet provider.

The Defi.org Accelerator was conceived primarily to develop further creative policies and the necessary tools towards the next level of innovation in decentralized finance, by providing liquidity, support and validation within the ever growing DeFi global ecosystem.

The recently announced Open DeFi Notification Protocol publicly available from tomorrow is basically an event-aggregator of contributions from community members that records significant events.

These events include smart contract creations and upgrades, blockchain governance votes, blockchain accumulated pending rewards, cryptocurrency price swings, prominent liquidations, stop losses, and more.

DeFi users like traders or liquidity providers, by accessing this type of data, can better manage their asset portfolios with superior tools to foresee and react to impactful events. The Open DeFi Notification Protocol allows a secure management by risk reduction, unarguably valuable in volatile market periods.

All DeFi projects can choose to differentiate themselves from competition by providing its customers with unlimited free mobile notifications of key sensitive information. All these Defi platforms need to do is integrate with Github for 30 minutes.

Orbs’ co-Founder Tal Kol describes the product in his own words,

“Transparency is a hallmark of blockchain, yet reliable mobile notifications that can aid the DeFi community are virtually nonexistent…our talented team has created a user-friendly protocol that functions almost like a reactive DeFi assistant, alerting users to the possibility of impending liquidations, significant price swings, contract upgrades and the like. We are positive it will make a huge impact.”

Initially the beta version of the Open DeFi Notification Protocol relies on a centralized node for tracking and display of the significant events recorded.

Orbs is working towards the launch of an updated improved version very soon that will rely on the decentralized Orbs network of independent nodes.

The beauty behind this announcement is that users will be able to set up an unlimited number of notifications linked to a variety of DeFiapplications, all of it integrated on a single open-source interfase comprising several dApps architecture frontends.

No previous registration is required, defi users will simply need to download the mobile app “DeFi Notifications” for iOS or Android and further scan their QR address in MetaMask (or the QR position in their app’s UI).

To make it even easier, in the Orbs’ official YouTube channel there is a tutorial video of this new DeFi Notification Protocol working with Sushi as an example.

Tal Kol added,

“The great thing about the Protocol is that it can work with emerging DeFi projects. All that’s required is the implementation of a simple JavaScript web3 class, to extract the notification from the on-chain data. This is then contributed via PR to the Protocol Github repo.”

Orbs Makes Connections Happen

The public blockchain platform Orbs was specifically designed to grant mass DeFi applications the integration with EVM-based L1 and L2 blockchains such as Ethereum, Binance Smart Chain (BSC), Polygon, Solana and Avalanche.

The decentralized Orbs protocol, powered by their ORBS native token, is operated by a public network of permissionless validators upon a PoS (proof-of-stake) consensus.

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Source: https://blockonomi.com/open-defi/

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