BNB steady after a 7% plunge – bulls must now handle this fresh hurdle 

Bitcoin BTC dropped from $23k to below $22.5k on Tuesday, pulling the altcoin market into a short-term plunge. Binance Coin BNB declined by 9% in the same period, dropping from $323 to $293.

Timeline of Bnb

Uniswap (UNI), a decentralized protocol, is ready to roll out the third version of its platform. The protocol aims to provide a suitable platform where users can seamlessly swap ERC-20 tokens without using an order book.

Bitcoin [BTC] continued to stay above the $23k mark, as bulls could wait for a move above $23.2k to buy into the bullish momentum. Conversely, they could wait for a drop to $22k before buying.

Low prices can be seen across the crypto markets right now, which means one thing and one thing alone: the best cryptos to buy now are on sale, and investment returns could be major from this price level.

Binance Coin (BNB/USD) has sustained its bullish trend amid reports by Bloomberg that the Binance exchange mistakenly mixed client funds with Binance-peg tokens (B-Tokens) collateral. At press time, the BNB token was up by 3.34% in the past 24 hours to trade at $313.24.

According to a report by Bloomberg, crypto exchange Binance has announced that one of its fiat trading partners, Signature Bank, will no longer be processing transactions of less than $100,000 as the bank attempts to reduce its exposure to the cryptocurrency market. Binance said this is a broad action affecting all crypto exchanges dealing with Signature bank.

Binance Chain's [BNB] network growth continued to record impressive numbers. According to a tweet by Token Terminal on 20 January, the daily active users on the chain hit almost 778,000.

Binance Coin (BNB) has had a rather good start to the new year, gaining more than 127% within the first 3 weeks of 2023. The increase in the token's price has caused its market capitalization to expand by over 52%, making it the 4th largest crypto by market cap.

Binance Coin's [BNB] performance of late has been in the buyers' favor, like most of the other cryptos. However, Santiment's data revealed that BNB was overvalued as per its MVRV Z-Score.

BNB Chain deployed the highest number of dApps throughout 2022 with 2,163 dApps, while Ethereum ranked first for amount of NFT transactions, according to a recent report by DappRadar.

GMX, the perpetual trading decentralized exchange (DEX) allowing up to 50X leverage, now generates more trading fees than the BNB Smart Chain (BSC) and Bitcoin. GMX Is The Third Most Active Platform According to statistics, GMX's 1-day fee on January 19 was around $589,000, while BSC and Bitcoin on-chain fees, over the same period, stood at $524,232 and $328,935, respectively.