BNB, the native token of the BNB Chain ecosystem, has seen an incredible price surge from $345 to $381 over the past three days.
As the bullish mood for BNB and Binance remains strong, some analysts predict that the token could reach $400 before the end of the month if the momentum continues.
BNB surges to 15-month high as bulls target $400
BNB’s 10% rise since Monday took the token to its highest level since November 2022.
This surge builds on the solid upward momentum BNB has shown throughout February, with positive investor sentiment continuing to push the token higher.
Trading volume is also on the rise, up 51% in the last 24 hours.
This surge made BNB the 6th largest company in the world.Day The 4 most traded cryptocurrencies globallyDay It is the largest in terms of market capitalization.
With BNB breaking the key resistance levels of $330 and $350, the technical outlook also looks promising for further upside.
BNB appears to have broken the $380 level cleanly, suggesting it could continue to bounce towards the $400 level.
The token has not reached $400 since May 2022, so it would be a significant development for BNB to reach this milestone.
Expanding user base and technology upgrades fuel BNB’s rally
The recent surge in Binance Coin can be attributed to several positive developments for the token and Binance itself.
Most importantly, BNB Chain announced yesterday that it has surpassed 1 million active users, demonstrating the continued growth and adoption of blockchain.
This level of adoption is even more impressive considering Binance’s ongoing legal troubles.
Nonetheless, as the user base expands, demand for the native BNB token is likely to increase.
Additionally, Binance continues to enhance the capabilities of the BNB Chain with new solutions such as high-throughput opBNB Layer-2.
Technical improvements such as these will allow the BNB Chain to scale to meet user demand supporting the value of BNB.
With optimism still strong and BNB rising based on these positive fundamentals, many investors and analysts believe the token could reach $400 by the end of the month.
For BNB to reach $400, only a modest 4% profit is needed from the token’s current price.
Considering that BNB recorded an 8% gain yesterday alone, it looks like it could reach $400 if the momentum continues.
What other coins are soaring in February?
While major altcoins like BNB are making headlines, lesser-known tokens are also seeing solid gains in February.
One example is Bitcoin Minetrix (BTCMTX), which is currently surging in its ongoing pre-sale phase.
Bitcoin Minetrix’s Stake-to-Mine model is driving the pre-sale buying craze.
Bitcoin Minetrix introduced the first Stake-to-Mine mechanism that allows users to earn BTC by staking BTCMTX tokens on Ethereum.
This transforms cloud mining by using smart contracts for improved security and transparency.
BTCMTX tokens are staked in smart contracts to earn “mining credits” that can be redeemed for hash power.
This makes mining easily accessible without the need to deal with risky third-party companies.
Bitcoin Minetrix also features limited supply and clear tokenomics with allocations for mining, marketing, community rewards, and generous staking incentives.
In the latter case, BTCMTX holders can stake their tokens and earn returns as high as 60% per annum, well above the cryptocurrency market average.
Bitcoin Minetrix’s presale has already raised over $11.2 million from enthusiastic investors, demonstrating strong interest in the platform’s Stake-to-Mine functionality.
Pre-sale funds will fuel the launch and awareness of the platform.
After the pre-sale, Bitcoin Minetrix’s developers plan to list BTCMTX on major exchanges to further fuel the platform’s growth.
Considering the huge hype on social media channels such as Twitter and Telegram, BTCMTX could benefit greatly from pre-sale success if it is listed on a Tier-1 exchange.
With over 10,000 people currently participating on Bitcoin Minetrix’s Discord server, the project is gathering an active community that is actively promoting BTCMTX.
This strong following, combined with the overwhelming interest in the project’s pre-sale, makes Bitcoin Minetrix appear ready to take off once BTCMTX hits the public market.
Early investors can purchase BTCMTX tokens for just $0.0136 through the pre-sale.