Solana (SOL) and Binance Cash (BNB) show little recovery

With the growing number of countries blocking cryptocurrencies, the cryptocurrency market as a whole has deteriorated due to the energy crisis. The previous cryptocurrency, Bitcoin, fell 15% last week, turning the whole market sentiment downward. However, Altcoins, such as Solana and Binance cash, have shown little signs of recovery. So let’s see?

SOL / USD recovered + 0.71%

SOL / USD closed at $ 135,964, posting $ 143,741, and $ 130,147. SOL / USD declined and has been low since September 2021. Well-known cryptocurrency commentator Spencer None has been the subject of much debate on Twitter about Solana and Polygon, with most web 3 fans claiming that Solana is the second most popular smart contract platform, but the data is incorrect. According to that data, the average daily number of active users on Solana was 180,000, and the number on Polygon was 270,000.

Solana (SOL) Live Rate

[[Solana-graph]]

In response, Poligon founder Sandip Nilewal said heavyweight trading plays a key role in decentralized crypto systems. He said Solana was gaining more traction due to high institutional trade. These comments on the Nile have put some further pressure on SOL / USD, following an already declining market trend. Yesterday, SOL / USD also followed the trend and fell to its lowest level since September 2021.

In addition, the appreciation of the US dollar further added to the selling pressure on SOL / USD on Monday. DXY, which measures the price of the green back with six major currencies baskets, rose to 95.99 on Monday. Meanwhile, the dollar was rising at an expected interest rate in March. While SOL / USD and the green back-to-back share a negative link, crypto was declining on Monday due to the strong dollar.

Binance Cash (BNB / USD) Returned + 5.98%

BNB / USD closed at $ 424.80, after setting a high of $ 445.40, and a low of $ 407.70. On Monday, the BNB / USD fell to its lowest level since October 2021 following the current negative market trend. Binance Exchange CEO Changpang Jao, also known as CZ, tops the list of richest crypto billionaires. $ 96 billion net worth.

According to a Bloomberg report, CZ ranks 11th on the list of the richest people in the world, because Binance is the largest crypto exchange position in terms of volume. In addition, CZ’s continued efforts to collect work permits have made Binance successful. Despite regulatory hurdles, Binance has maintained an ongoing partnership and acquisition process to remain a leader in the cryptocurrency market.

Binance Cash (BNB) Direct Rate

[[BinanceCash-graph]]

Binance’s most recent success is finding Swipe, a leading crypto visa card provider operating in more than 70 million locations around the world. In addition, the crypto exchange has launched a $ 1 billion initiative to accelerate the evolving Binance Smart Chain ecosystem and accelerate adoption in the financial technology sector.

The strength of the US dollar on Monday further added to the already weakening BNB / USD exchange rate. The US dollar was gaining momentum earlier than expected, reaching 95.99, lowering the BNB, as the two share a negative link.


#forex_news

Leave a Comment