
Mainly, money is flowing into its Anchor, Mirror, and Astroport protocols, which allow investors to profit from juicy yields on its UST stablecoin.įantom is a similar success story, with its TVl hovering around similar values as Terra’s. terra already accounts for 11% of DeFi TVL, growing its sare from practically zero a year ago. That is the case for Fantom and Terra, two alternative L1s that have seen the bulk of TVL growth in 2022. The rise of Fantom and TerraĭeFi money is rarely gone. Although Solana is fixing these issues, crypto money has little loyalty and investors have already found new darlings. Several network outages laid bare how centralised Solana really is and that its speed comes at a certain cost. However, the problems started before that. Similar to BNB Chain, Solana suffered a major hack when its Wormhole bridge was exploited for $322 million ($441 million AUD). Propelled by its impressive performance, Solana catapulted to record valuations and an all-time high in TVL of over $20 billion AUD in December 2021. Although it still boasts several respectable exchanges and applications in PancakeSwap, Venus, Alpaca, and Ellipsis Finance, BNB Chain is not the go-to alternative layer-one it used to be a year ago.Ī similar fate befell Solana, the second big breakout star after BNB Chain. It has lost 60% of its value since.Īnalysts see BNB Chain’s centralization, constant security issues, and lack of innovation as the biggest problems plaguing Binance’s in-house blockchain. In 2021, BNB Chain exploded in value, from virtually zero to a peak of $42.5 billion AUD. Why BNB Chain and Solana are strugglingīNB Chain, the former Binance Smart Chain, was the first big alternative layer-one chain that gained traction at the end of DeFi summer 2020. But BNB Chain and Solana have been hit the hardest. Ethereum is down 30% from its TVL all-time high and has lost a good amount of market share (down to 65% of all DeFi TVL). Currently, $288 billion AUD is locked as total value across different DeFi protocols, down from the December peak of $350 billion AUD. However, as the technical indicator Relative Strength Index (14) stays above the 60-level, crossing below this level could lower the price to the support level of 1350 SAT and below, but once it moves out of this zone, the market price may likely begin an upward trend to hit the resistance level of 1550 SAT and above.No matter how you look at it, DeFi has seen better days. According to the recent negative sign, the trend may likely follow the downtrend if the buyers failed to push the price towards the upper boundary of the channel. When compares with Bitcoin, the Binance Coin price is seen moving upward as bears are planning to bring the price to the negative side. Exceeding this level could take the price to the support levels of $220, $200, and $180 by moving above the 50-level. In addition, if the coin decides to follow the negative side, a minimum swing could bring the price to a $250 support level. Meanwhile, if there is an increase in buying pressure, the price may break towards the upper boundary of the channel a bullish continuation could reach the resistance levels of $330, $350, and $370. However, the bulls are likely to make an effort to push the price back to the upside. Binance Coin Price Prediction: Would Binance Coin Head to North?Īccording to the daily chart, the Binance Coin price is likely to face a downtrend, but the best bulls can do is to defend the current market value at $282 and focus on pulling the price towards the nearest resistance level at $300. Looking at the technical indicator, the Relative Strength Index (14) continues to move below the 60-level. At the time of writing, the crypto is hovering above the 9-day and 21-day moving averages as the trend is likely to bring a bearish inclination, which may likely retest the support at $270.

Binance Coin price now – $282.7Binance Coin market cap – $45.5 billion.The Binance Coin (BNB) price prediction sudden dip below $285 today as the coin may likely reclaim back the losses if the bulls step back.


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