Binance’s BNB Chain seems primed to remain competitive this year, and this is happening after facing down the 2022’s year’s headwinds, says the crypto analytics firm Messari. Check out the latest reports about the issue below.
Binance’s BNB Chain remains in competition in 2023
Messari research analyst James Trautman noted in a new analysis that the non-fungible token (NFT) sector of the BNB Chain had a “breakout year” in 2022.
The chain’s secondary NFT sales volume grew 857.9% year-on-year, according to the report.
That growth was able to spike in the middle of the year, and then the BNB Chain’s sales volume plummeted in the second half of 2022 amid the larger crypto meltdown.
Trautman also said that secondary NFT sales volume decreased 67.4% on a quarter-over-quarter basis.
Looking at daily transactions, the research analyst says that the BNB Chain outperformed other layer-1 protocols in its peer group last year.
“Daily transaction activity was flat over the quarter. BNB Chain finished the quarter with a foundational level of daily transactions similar to Polygon. On average, Polygon processed ~2.0 million transactions per day, and BNB Chain averaged ~3.4 million per day over the quarter.”
Bitcoin could see a massive trend shift
It’s been just revealed that a popular crypto analyst followed crypto strategist is bullish on Bitcoin (BTC), saying that the king crypto could be gearing up to do the unthinkable.
In a new video, analyst Kevin Svenson said recently that Bitcoin could hit $30,000 much sooner than people expect.
According to the crypto trader, momentum is on the side of BTC bulls following the breakout from a large falling wedge formation. It’s important to note the fact that this is a major shift in trend.
“We are now in a bullish trend shift… But what is interesting to me is the daily RSI [relative strength index]. We’re bouncing off the 70 level on the daily RSI. We’re bouncing off the overbought zone, the unthinkable. The bears never thought this was going to be possible. But it has happened before.”
