BNB Climbs to 4th Largest Coin, Overtaking Solana: BNB Price Prediction
BNB Climbs to 4th Largest Coin, Overtaking
Solana:
BNB Price Prediction / Source: Cryptonews
The BNB price has climbed to become the fourth largest crypto coin in the world, overtaking Solana (SOL) amid a market slump that has hit the SOL harder than BNB.
Per CoinMarketCap , the BNB price was last down 5% in the past 24 hours. That took its market cap down to $81.3 billion.
Solana , meanwhile, dumped over 10%, its market cap sliding to under $75 billion in the process.
So, is BNB’s rise in the crypto ranking a bullish sign. Let’s take a look at some drivers in the market right now.
BNB Price Prediction – Where Next?
The BNB price was last around $558, now down about 8% from July’s highs.
The drop comes amid a broader pullback in the cryptocurrency markets in the past few sessions.
Now avidly pro-crypto ex-US President Donald Trump’s betting market implied odds of retaking the White House in November has slipped in recent weeks.
That’s owning to a promising start to US Vice President Kamal Harris’ presidential campaign, which has seen her odds rise.
This could be weighing on crypto sentiment, while escalating Middle Eastern tensions might also be weighing.
Supply overhangs from the prospect of heavy selling from the US government and Mt Gox creditors may also be weighing on Bitcoin, while Grayscale Ethereum ETF outflows are likely still hurting ETH.
And this is likely having a broad negative impact on the crypto market as a whole.
The BNB chart, meanwhile, suggests pressure is building for a break below $557 support.
That could open the door to a drop back to the 200DMA and recent lows in the $450s.
BNBUSD / Source:
TradingView
But this could be a good opportunity to buy.
Indeed, macro tailwinds are building up. The Fed teed up a potential rate cut in September at Wednesday’s meeting.
And even if the Democrats do retain the White House in November, they appear to be swinging in a more pro-crypto direction.
The stage is setting for a strong market rebound. And BNB, as the fourth largest crypto, could be a major beneficiary.
BNB could be on course to hit new record highs before the end of the year above $700.
Alternative to Consider – Pepe Unchained (PEPU)
Crypto traders looking for a higher risk-reward investment should consider getting involved in the meme coin market meme coin market .
The best way to make money in meme coins is via getting into a new token early, before it trends.
And one of the best ways to do this is via meme coin presales .
Cryptonews.com keeps a close eye on the meme coin presale market.
One new token they like a lot is called Pepe Unchained (PEPU).
Unlike most newly launched Pepe copycat tokens, this Pepe Unchained is packed with utility.
Pepe Unchained (PEPU) is a new Ethereum layer-2 blockchain that seeks to become crypto’s number one meme coin trading blockchain.
Pepe Unchained’s token presale launched a few weeks ago, raising over $6.7 million so far.
Potential investors should note that PEPU is also a passive income gem. The project’s website shows the current staking yield is around 286%.
At the current token price of $0.0081939, PEPU is valued at $64 million, with the potential for higher valuation if it succeeds as a meme coin Ethereum layer-2 blockchain .
To purchase PEPU, users can connect their MetaMask wallet on the official website, accepting ETH, BNB, and USDT.
Learn More About PEPU Here
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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