Binance Coin ends positively in 2021, but can it be sustained?
In terms of social media trends, Binance Coin may not be the hottest cryptocurrency, but it has surpassed many others.
Binance Coin outperforms Bitcoin, Ethereum
In the last week of December, Binance Coin was the highest inflow project of the week at $ 20.2 million, outperforming Bitcoin and Ethereum and other top altcoins.
However, the market as a whole has still not been able to sustain inflows as the leading altcoin, Ethereum, outflowed $ 61.3 million last week, and by 2021 the entire market will see an outflow of $ 32 million. Dollar record.
Weekly net cash flow dominated by BNB | Source: Coinshares
For now, however, it will be some time before users see if Binance Coin can maintain its strong momentum through 2022. It is not yet possible to say exactly because the performance of BNB is not very optimistic.
But the low price volatility has kept Binance from losing too much, which is why BNB only lost about 21.2% of its ATH threshold over 2 months.
This is much lower than other top altcoins like Cardano and Solana, which have vaporized more than 55% and 33% respectively from the ATH threshold.
BNB price chart | Source: TradingView
In addition, investors who have retained their HODLing or accumulation status remain confident that the market can rebound. However, this can gradually go away if the price does not rise again. At this point, investors will switch to a discount and may even sell the coins they hold.
Low BNB speed indicates HODLing | Source: Santiment
New investors are trying to get into the market by “buying the dip” as the BNB has not yet posted an actual loss in the past 2 months.
Realized profit from BNB | Source: Santiment
However, investors should be aware that current market conditions combined with negative risk-adjusted returns can result in losses.
Binance Coin Sharpe Ratio | Source: Messari
So everyone should wait and see BNB’s performance next week. If the market is showing signs of recovery this is a good time to get in.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
Author
Market
Binance Coin ends positively in 2021, but can it be sustained?
In terms of social media trends, Binance Coin may not be the hottest cryptocurrency, but it has surpassed many others.
Binance Coin outperforms Bitcoin, Ethereum
In the last week of December, Binance Coin was the highest inflow project of the week at $ 20.2 million, outperforming Bitcoin and Ethereum and other top altcoins.
However, the market as a whole has still not been able to sustain inflows as the leading altcoin, Ethereum, outflowed $ 61.3 million last week, and by 2021 the entire market will see an outflow of $ 32 million. Dollar record.
Weekly net cash flow dominated by BNB | Source: Coinshares
For now, however, it will be some time before users see if Binance Coin can maintain its strong momentum through 2022. It is not yet possible to say exactly because the performance of BNB is not very optimistic.
But the low price volatility has kept Binance from losing too much, which is why BNB only lost about 21.2% of its ATH threshold over 2 months.
This is much lower than other top altcoins like Cardano and Solana, which have vaporized more than 55% and 33% respectively from the ATH threshold.
BNB price chart | Source: TradingView
In addition, investors who have retained their HODLing or accumulation status remain confident that the market can rebound. However, this can gradually go away if the price does not rise again. At this point, investors will switch to a discount and may even sell the coins they hold.
Low BNB speed indicates HODLing | Source: Santiment
New investors are trying to get into the market by “buying the dip” as the BNB has not yet posted an actual loss in the past 2 months.
Realized profit from BNB | Source: Santiment
However, investors should be aware that current market conditions combined with negative risk-adjusted returns can result in losses.
Binance Coin Sharpe Ratio | Source: Messari
So everyone should wait and see BNB’s performance next week. If the market is showing signs of recovery this is a good time to get in.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
Other Posts
Related Posts
Latest
The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
Press Release
The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
