Binance’s BNB token hit a new all-time high of $788.84 on Dec. 4, 2024. Since its peak, the asset has faced quite a correction. BNB’s price is down 2.1% in the 14-day chart but is up in the other time frames. The asset is currently outperforming the top 10 projects by market cap.
BNB has rallied 0.8% in the daily charts, 2.1% in the weekly charts, 7.8% over the previous month, and 117.7% since late December 2023.
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BNB Not Following The Market?
The general cryptocurrency market is facing a correction right now. Bitcoin (BTC) has fallen below $93,000. BTC’s descent has triggered a market-wide dip. Binance’s BNB coin seems to be steering clear of BTC’s trajectory.
The dip is likely due to the Federal Reserve taking a hawkish stance in its monetary policy. The Fed has announced only two interest rate cuts in 2025 instead of three. The Fed’s decision is due to the rise in US inflation numbers to 2.7%.
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New ATH For The 5th Largest Crypto?
According to CoinCodex, Binance’s BNB coin will continue to rally over the next few months. The platform anticipates the asset to hit a new all-time high of $807.10 on Jan. 11, 2025. CoinCodex does not expect BNB to stop rallying after a new peak. The platform predicts BNB will breach the $1000 mark next year, hitting $1076.68 on Mar. 28, 2025. Hitting $1076.68 from current price levels will translate to a rally of about 53.56%.
Changelly, on the other hand, is quite bearish on BNB. The platform anticipates the asset to trade at a potential maximum price of $663.80 in February 2025.
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