- Data showed that the latest upgrade could tank BNB Chain’s revenue.
- Broader trader sentiment was positive, suggesting that BNB’s price can retest $600.
On the 20th of June, BNB Chain, the decentralized blockchain ecosystem released a major update. According to the chain, through BEP 336, users on the network can make transactions with a 90% fee reduction.
The disclosure is synonymous with Ethereum’s Dencun upgrade, which brought about a decrease in gas fees. Interestingly, BNB Chain did not deny that the EIP4844 inspired it. Concerning this it explained that,
“BEP 336 significantly lowers the cost of transactions on the BSC network by eliminating the need for permanent storage of certain data types.”
Will this affect revenue?
However, it is important to mention that the development could affect BNB Chain’s revenue. At press time, AMBCrypto observed that the project’s revenue decreased from what it was on the 19th, according to Artemis data.
Source: Artemis
Notably, fees gotten from transactions contribute a major quota to the revenue. Therefore, a further reduction could lead to another drop. BNB’s price is another metric that the development could influence.
At press time, BNB changed hands at $585.37. This was a notable decrease from the all-time high it reached weeks ago.
However, reduced transaction fees could mean increased demand for the BNB cryptocurrency. Should this be the case, the price of the coin might be able to approach its all-time high of $720.67 again.
Regardless, it is important to assess what is happening on the network. As of this writing, AMBCrypto looked at the development activity.
Development improves while traders plan to take advantage
Development activity measures the work done in public GitHub repositories of a project. If the metric increases, it means that developers are committing more codes to ensure shipping of new features.
However, a decrease implies that commitment to polishing the network is not at its peak. According to. data from Santiment, BNB ‘s development activity jumped to its highest level since the 6th of May.
Source: Santiment
This implied an improvement in developer dedication. For the price, this rise could be bullish for the coin. Another indicator to evaluate is Funding Rate.
The idea behind assessing this indicator is to see if traders view the upgrade as a catalyst to drive a price increase or not.
According to Coinglass, BNB’s Funding Rate was 0.0020%. Positive values of the indicator implies that the contract price is trading at a premium to the spot price. In this case, trader sentiment is bullish.
On the other hand, a negative reading implies that the perpetual price is at a discount. Therefore, the broader trader sentiment is bearish.
Thus, the Funding Rate at press time, implies that longs are paying shorts a fee to keep their position open. Hence, the average trader expects BNB’s price to increase.
Source: Coinglass
Read Binance Coin [BNB] Price Prediction 2024-2025
But for the price to increase, buying pressure in the spot market has to be increase.
If this happens, BNB’s price can surpass $600 in the short-term. But if invalidated, the price of the coin might drop to $570.
- Data showed that the latest upgrade could tank BNB Chain’s revenue.
- Broader trader sentiment was positive, suggesting that BNB’s price can retest $600.
On the 20th of June, BNB Chain, the decentralized blockchain ecosystem released a major update. According to the chain, through BEP 336, users on the network can make transactions with a 90% fee reduction.
The disclosure is synonymous with Ethereum’s Dencun upgrade, which brought about a decrease in gas fees. Interestingly, BNB Chain did not deny that the EIP4844 inspired it. Concerning this it explained that,
“BEP 336 significantly lowers the cost of transactions on the BSC network by eliminating the need for permanent storage of certain data types.”
Will this affect revenue?
However, it is important to mention that the development could affect BNB Chain’s revenue. At press time, AMBCrypto observed that the project’s revenue decreased from what it was on the 19th, according to Artemis data.
Source: Artemis
Notably, fees gotten from transactions contribute a major quota to the revenue. Therefore, a further reduction could lead to another drop. BNB’s price is another metric that the development could influence.
At press time, BNB changed hands at $585.37. This was a notable decrease from the all-time high it reached weeks ago.
However, reduced transaction fees could mean increased demand for the BNB cryptocurrency. Should this be the case, the price of the coin might be able to approach its all-time high of $720.67 again.
Regardless, it is important to assess what is happening on the network. As of this writing, AMBCrypto looked at the development activity.
Development improves while traders plan to take advantage
Development activity measures the work done in public GitHub repositories of a project. If the metric increases, it means that developers are committing more codes to ensure shipping of new features.
However, a decrease implies that commitment to polishing the network is not at its peak. According to. data from Santiment, BNB ‘s development activity jumped to its highest level since the 6th of May.
Source: Santiment
This implied an improvement in developer dedication. For the price, this rise could be bullish for the coin. Another indicator to evaluate is Funding Rate.
The idea behind assessing this indicator is to see if traders view the upgrade as a catalyst to drive a price increase or not.
According to Coinglass, BNB’s Funding Rate was 0.0020%. Positive values of the indicator implies that the contract price is trading at a premium to the spot price. In this case, trader sentiment is bullish.
On the other hand, a negative reading implies that the perpetual price is at a discount. Therefore, the broader trader sentiment is bearish.
Thus, the Funding Rate at press time, implies that longs are paying shorts a fee to keep their position open. Hence, the average trader expects BNB’s price to increase.
Source: Coinglass
Read Binance Coin [BNB] Price Prediction 2024-2025
But for the price to increase, buying pressure in the spot market has to be increase.
If this happens, BNB’s price can surpass $600 in the short-term. But if invalidated, the price of the coin might drop to $570.
Attractive component to content. I simply stumbled upon your site and in accession capital to assert that I get actually loved account your weblog posts. Any way I will be subscribing to your augment and even I achievement you get right of entry to consistently fast.
I’ve been absent for a while, but now I remember why I used to love this blog. Thanks, I’ll try and check back more often. How frequently you update your website?
F*ckin¦ remarkable things here. I¦m very satisfied to see your post. Thank you so much and i am having a look ahead to touch you. Will you please drop me a mail?
Generally I do not read article on blogs, however I wish to say that this write-up very forced me to take a look at and do so! Your writing style has been surprised me. Thanks, very great article.
magnificent submit, very informative. I wonder why the opposite experts of this sector do not notice this. You must proceed your writing. I’m sure, you’ve a great readers’ base already!
You are my inspiration , I possess few blogs and occasionally run out from to brand : (.
Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.
buy generic clomid pill clomiphene contraindications where buy cheap clomiphene tablets can you get clomiphene prices can i get generic clomiphene pills where can i buy generic clomiphene without prescription clomiphene medication cost
More posts like this would add up to the online play more useful.
More posts like this would make the online elbow-room more useful.
buy azithromycin online – metronidazole oral order metronidazole 200mg generic
buy rybelsus pill – buy periactin for sale periactin generic
Hey there, You’ve performed an excellent job. I will definitely digg it and in my opinion recommend to my friends. I am sure they will be benefited from this web site.
motilium drug – domperidone 10mg usa flexeril cost
amoxil brand – combivent 100 mcg canada purchase ipratropium pill
order augmentin 375mg – https://atbioinfo.com/ acillin us
esomeprazole 40mg oral – https://anexamate.com/ buy nexium 20mg online
coumadin without prescription – https://coumamide.com/ brand hyzaar
purchase mobic for sale – moboxsin buy mobic generic
Hi, Neat post. There’s a problem together with your site in web explorer, would check this?K IE still is the market chief and a large section of people will leave out your wonderful writing due to this problem.
how to buy prednisone – https://apreplson.com/ buy prednisone 40mg sale
cheap fluconazole 100mg – https://gpdifluca.com/ diflucan 200mg tablet
order lexapro 10mg – buy lexapro 10mg online cheap escitalopram
buy cenforce 50mg online cheap – https://cenforcers.com/ cost cenforce
generic tadalafil canada – https://ciltadgn.com/# cialis free 30 day trial
cialis tablet – cialis windsor canada tadalafil buy online canada
zantac pills – https://aranitidine.com/# ranitidine 150mg generic
buy viagra cheap australia – https://strongvpls.com/ viagra buy south africa
I am in truth delighted to gleam at this blog posts which consists of tons of useful facts, thanks object of providing such data. gnolvade.com
Thanks on putting this up. It’s evidently done. https://buyfastonl.com/isotretinoin.html
This is the big-hearted of literature I truly appreciate. https://ursxdol.com/sildenafil-50-mg-in/
Greetings! Very gainful recommendation within this article! It’s the crumb changes which will turn the largest changes. Thanks a portion quest of sharing! https://prohnrg.com/
Howdy very cool blog!! Man .. Excellent .. Superb .. I’ll bookmark your website and take the feeds also…I’m happy to search out numerous useful info here in the put up, we need develop extra strategies in this regard, thanks for sharing.