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Binance Coin, the fifth-largest cryptocurrency by market capitalization, has largely avoided the ongoing crypto crash and is hovering near its all-time high. Binance Coin ( BNB ) was trading at $695 on Friday, just 12% below its record high reached in December. In comparison, Bitcoin ( BTC ) has fallen by 15%, while other mega cap cryptocurrencies like Solana ( SOL ) and others have all declined by over 20%. BNB’s resilience is primarily due to its lower correlation with Bitcoin and other cryptocurrencies. According to data from Blockchaincenter , BNB’s 90-day correlation coefficient with Bitcoin stands at 0.65, lower than that of many other major coins. BNB’s price action is also influenced by its substantial quarterly token burns, which reduce the supply of coins in circulation. Binance employs two types of burning mechanisms: real-time and quarterly burns. Real-time burns happen where a fixed ratio of gas fee collected is burned in each block. This burn mechanism has incinerated BNB tokens worth $171 million. You might also like: Virtuals Protocol teams up with Animoca Brands to invest in AI gaming The quarterly burn is based on the number of blocks produced within each quarter. In the fourth quarter, 1.63 million BNB tokens worth $1.02 billion were burned. According to data from BNB Burn , the upcoming quarterly autoburn is expected to incinerate an additional 1.55 million tokens, valued at around $1.09 billion. The BSC ecosystem has also continued to do well in the past few months. For example, the ecosystem’s total value locked (TVL) has grown by 3% in the last 30 days, while Ethereum, Solana, and Tron have shed over 8% in this period. Decentralied Exchange protocols within the BSC ecosystem have processed more than $9.75 billion worth of tokens in the last seven days. BNB price chart point BNB price chart | Source: crypto.news TTechnical indicators suggest that BNB has further upside potential in the long term. The token remains above both its short-term and long-term moving averages. Additionally, the Relative Strength Index and the MACD — two popular momentum oscillators — have continued to rise, signaling bullish momentum. Binance coin has also formed a cup and handle chart pattern, a bullish continuation signal commonly seen in technical analysis. This pattern consists of two parts: the cup and the handle. In BNB’s case, the cup formed between May 2021 and July 2022, and the handle section is currently in progress. If the pattern completes, BNB could see a price increase of more than 70%, potentially surging to over $1,180 in the long term. You might also like: Solana LSTs market cap hits $7.5b
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2 cryptocurrencies to reach a $50 billion market cap in Q1 2025
The cryptocurrency market continues to attract investors with its dynamic growth and evolving opportunities. In this context, Finbold selected two cryptocurrencies with the potential to reach a $50 billion market cap in Q1 2025. This happens despite Bitcoin ( BTC ) facing a slight pullback, finding strong support around the $90,000 level, a critical threshold for market sentiment. However, the broader market reflected its unpredictable nature, with the global cryptocurrency market cap declining 1.8% over the last 24 hours to $3.43 trillion. Despite this short-term pullback, the market has shown consistent strength, building momentum across digital assets. This volatile yet promising environment highlights opportunities for standout performers like TRON ( TRX ) and Sui Network ( SUI ), which are well-positioned to achieve significant market cap milestones in the months ahead. TRON (TRX) Currently trading at $0.24 with a market cap of $20.68 billion, TRX is positioned for significant growth, with projections suggesting it could reach a $50 billion market cap by Q1 2025. Technical indicators support a bullish outlook, with an ascending channel pattern pointing to a potential price range of $1.65 to $2.20. TRX market cap. Source: CoinMarketCap This sentiment is reinforced by derivatives data , with a long/short ratio of 2.63 on Binance TRX/USDT pairs, highlighting strong bullish momentum. Open interest currently stands at $197.75 million, coupled with a trading volume of $273.97 million, reflecting active and increasing participation in the derivatives market. TRON’s dominance in stablecoin transactions further validates its upward trajectory. USDT on TRC-20 has recorded over 22 billion transfers, significantly outpacing Ethereum’s ERC-20 network, which stands at 2.6 billion transfers, according to CryptoQuant. Low transaction fees and faster confirmation times have solidified TRON as the preferred platform for global stablecoin transfers, with TRC-20 transactions in September alone nearly doubling those on ERC-20. With growing adoption by exchanges and a thriving ecosystem, TRON is poised to capitalize on these strengths and achieve significant market cap growth in 2025. Sui Network (SUI) Currently trading at $4.94 with a market cap of approximately $14.85 billion, Sui has shown remarkable growth, reaching a new all-time high of $5.35 earlier this month. Its ecosystem growth has been further validated by its inclusion in Grayscale’s GSCPxE Fund, signaling strong institutional interest. These developments, coupled with a consistent Total Value Locked (TVL) above $1 billion, peaking at $2 billion recently, highlight Sui’s robust activity and growing user engagement. SUI market cap. Source: CoinMarketCap With a price gain of over 11% since the start of the year, Sui’s bullish trajectory is supported by both its ecosystem expansion and broader market dynamics. Recent partnerships with major players like Franklin Templeton have significantly boosted its utility, alongside wallet integrations such as Phantom and Backpack that enhance its usability. These factors position Sui for significant growth, with analysts drawing strong parallels to Solana’s 2021 rally , suggesting Sui could follow a similar upward trajectory in the near future. These factors collectively position both TRX and SUI as key assets to watch as they edge closer to this significant milestone. Featured image via Shutterstock The post 2 cryptocurrencies to reach a $50 billion market cap in Q1 2025 appeared first on Finbold . crypto.news
Arbitrum’s BoLD Proposal Achieves 99.79% Support, Paving the Way for Enhanced Permissionless Validation Solutions
The introduction of the BoLD protocol is poised to revolutionize challenge resolution within the Arbitrum ecosystem, addressing critical security concerns. Despite a high approval rate, voter participation in the BoLD crypto.news
