Binance Coin [BNB] forms bullish continuation pattern – to $360 next?

Binance Coin BNB posted steady gains throughout January 2023 and succeeded in breaking above the $315 level of resistance in early February 2023. This level of resistance has been significant since November 2022.

Timeline of Bnb

The Uniswap community on its governance forum overwhelmingly supported a “temperature check” proposal to deploy the Uniswap v3 protocol on a new chain. With 80% of the vote, Uniswap's UNI governance token holders have approved moving the decentralized exchange system to BNB Chain, an alternative to Ethereum.

On 8 February, Binance CEO Changpeng Zhao (CZ) shared a snapshot showing details of the Binance Coin [BNB] Chain's proposed deployment of Euler. According to the shared link, the BNB Chain foundation had agreed to deploy Euler on the chain.

The crypto industry has been trying to increase the safety of most crypto assets and protocols using modern technological approaches. However, issues of exploits in the industry are becoming more rampant than before.

Binance Coin [BNB] outperformed the king of altcoins, Ethereum [ETH], by a huge margin in terms of daily active addresses. As per CoinMarketCap, BNB's daily active users exceeded 815,000, while Ethereum and Polygon [MATIC] reached 344,000 and 277,000, respectively.

Key Points: A Uniswap community poll to validate and select a cross-chain solution for this exchange on BNB Chain initially favored Wormhole. However, the final outcome will be quite uncertain and stated that a16z uses 15 million UNIs to “dominate” the vote.

A positive trend has been prevailing on the charts for the past few days, according to the most recent Binance Coin price analysis. The price has increased over the past 24 hours as well, which is quite positive for buyers.

Binance Coin [BNB] posted its weekly metrics on 4 February, mentioning a few of the chain's notable statistics. As per the latest data, BNB's weekly transactions exceeded 17 million, while the daily average transaction remained at 2.87 million.

Binance Coin (BNB) is a cryptocurrency made by the popular cryptocurrency exchange Binance. What many cryptocurrency investors don't know is that it's possible to buy BNB on MetaMask, and interact with decentralized applications on the BNB Chain using the wallet.

The world's leading crypto exchange by volume is announcing a new decentralized storage system based on its native blockchain. In a recent announcement, Binance reveals a Whitepaper for BNB Greenfield, a three-piece Web3-enabled data storage protocol built on top of the BNB Chain.

The Binance team declared on Sunday that it had burned more than 16 million BNB (ERC-20) tokens. The crypto exchange also revealed that it is migrating the ERC20 version of BNB to the native (BEP2) version.