{"id":121314,"date":"2023-07-12T10:41:20","date_gmt":"2023-07-12T10:41:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/bnb-rising-attention-in-the-face-of-suppressed-growth-crypto-news\/"},"modified":"2023-07-12T10:41:23","modified_gmt":"2023-07-12T10:41:23","slug":"bnb-rising-attention-in-the-face-of-suppressed-growth-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bnb-rising-attention-in-the-face-of-suppressed-growth-crypto-news\/","title":{"rendered":"BNB: Rising attention in the face of suppressed growth\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both; display: block; float: none;\"\/><\/p>\n<ul>\n<li><em>BNB&#8217;s on-chain volume and Open Interest soared.<\/em><\/li>\n<li><em>Traders&#8217; target prices were far from the coin&#8217;s press time value as losses overrode gains in transactions.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The volume of <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/Binance+coin\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Binance Coin [BNB]<\/span><\/a><span style=\"font-weight: 400;\">, the native cryptocurrency of the Binance exchange, has reached its highest in almost a month.  According to data obtained from on-chain analytical platform Santiment, BNB&#8217;s volume tapped 883.77 million on 11 July. <\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-bnb-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">1,10,100 BNBs worth today<\/span><\/a><span style=\"font-weight: 400;\">,<\/span><\/p>\n<hr\/>\n<h4><b>Eyes on the spot and derivatives<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">This rise in <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.santiment.net\/charts\/c5bGG47D__sCl\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">trading activities<\/span><\/a><span style=\"font-weight: 400;\">  signified that the coin had been attracting increased attention.  However, renewed interest in BNB did not just stop at the mere exchange among wallets.<\/span><\/p>\n<div id=\"attachment_326892\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.20.30-12-Jul-2023.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326892\" class=\"size-full wp-image-326892\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.20.30-12-Jul-2023.png\" alt=\"BNB price and on-chain volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.20.30-12-Jul-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.20.30-12-Jul-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.20.30-12-Jul-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.20.30-12-Jul-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.20.30-12-Jul-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.20.30-12-Jul-2023-2048x693.png 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326892\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Instead, the derivatives market also highlighted how the growing interest in the coin wasn&#8217;t only limited to spot trades.  For one, BNB&#8217;s Open Interest on exchanges has been increasing since 7 July.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Open Interest measures the total number of contracts held by participants at the end of a trading day.  Therefore, it determines market sentiment and strength behind prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A fall in this indicator suggests liquidation in the market, with many participants exiting their positions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But on BNB&#8217;s side, the Open Interest increase means that traders were not discouraged by the coin&#8217;s price action.  As a result, BNB experienced an impressive wave of money flow into the futures and options market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, BNB&#8217;s 24-hour active addresses <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.santiment.net\/charts\/dI2PAnwF__sCl\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">followed<\/span><\/a><span style=\"font-weight: 400;\">  the same trend as the Open Interest and volume.  As of 6 July, the metric was up to 120.47 million. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The increase in active addresses means that more participants have been involved in successful transactions.  Hence, BNB could boast of a good level of usage on its underlying network. <\/span><\/p>\n<div id=\"attachment_326891\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326891\" class=\"size-full wp-image-326891\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"BNB active addresses and open interest\" width=\"2560\" height=\"867\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-2048x693.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326891\" class=\"size-full wp-image-326891\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023.png\" alt=\"BNB active addresses and open interest\" width=\"2560\" height=\"867\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-06.48.06-12-Jul-2023-2048x693.png 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326891\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<h4><b>Losses and the aim to resist more<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">However, increased participation and interest in BNB did not exactly impact liquidation.  At press time, Coinglass revealed that BNB&#8217;s <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LiquidationData\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">total liquidations<\/span><\/a><span style=\"font-weight: 400;\">  were less than $230,000 on 11 July. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">And from the chart below, shorts accounted for most of it.  However, the absence of a widespread wipeout suggests that most traders were mostly long on BNB.<\/span><span style=\"font-weight: 400;\">,<\/span><\/p>\n<div id=\"attachment_326890\" style=\"width: 1363px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326890\" class=\"size-full wp-image-326890\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Bnb liquidation date\" width=\"1353\" height=\"337\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06.png 1353w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06-300x75.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06-1024x255.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06-768x191.png 768w\" data-lazy-sizes=\"(max-width: 1353px) 100vw, 1353px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326890\" class=\"size-full wp-image-326890\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06.png\" alt=\"Bnb liquidation date\" width=\"1353\" height=\"337\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06.png 1353w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06-300x75.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06-1024x255.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-12-at-07.02.06-768x191.png 768w\" sizes=\"auto, (max-width: 1353px) 100vw, 1353px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326890\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Meanwhile, the coin&#8217;s on-chain transaction volume in profit was 11,200.  On the other hand, the on-chain transaction volume in loss was far above at 89,600.  This was based on Santiment&#8217;s data as of the first week of June.<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green?  check the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/binancecoin-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Binance Coin Profit Calculator<\/span><\/a><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">While these <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.santiment.net\/charts\/o0zDEb8N__sCl\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">metrics track <\/span><\/a><span style=\"font-weight: 400;\">the transactions that have moved in gains or the opposite, the wide difference implies that BNB&#8217;s growth for a while has not yielded a positive outcome for many holders.<\/span><\/p>\n<div id=\"attachment_326887\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326887\" class=\"size-full wp-image-326887\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"BNB on-chain transactions in volume and loss\" width=\"2560\" height=\"867\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-2048x693.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326887\" class=\"size-full wp-image-326887\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023.png\" alt=\"BNB on-chain transactions in volume and loss\" width=\"2560\" height=\"867\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BNB-BNB-07.13.03-12-Jul-2023-2048x693.png 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326887\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">In its press time state, BNB&#8217;s renewed interest might not be the ticket that confirms its position for an uptick.  Ergo, the coin has also been <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/will-fud-around-binance-cause-further-harm-to-the-crypto-market\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Affected<\/span><\/a><span style=\"font-weight: 400;\">  by the FUD caused by Binance&#8217;s regulatory issues. <\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BNB&#8217;s on-chain volume and Open Interest soared. Traders&#8217; target prices were far from the coin&#8217;s press time value as losses overrode gains in transactions. The volume of Binance Coin [BNB], the native cryptocurrency of the Binance exchange, has reached its highest in almost a month. According to data obtained from on-chain analytical platform Santiment, BNB&#8217;s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":121315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-121314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=121314"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121314\/revisions"}],"predecessor-version":[{"id":121316,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121314\/revisions\/121316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/121315"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=121314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=121314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=121314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}