reporter
Posted on:
- BNB price hit its highest point in April 2023 and its lowest point in October 2023.
- BNB rose more than 3% and market indicators looked optimistic.
2023 was an eventful year BNB Chain (BNB) has launched several notable projects. While the blockchain has witnessed several developments in 2023, BNB Chain has now presented its 2024 roadmap, highlighting the projects in its pipeline.
A look at the BNB chain in 2023
BNB Chain recently published: blog We highlight achievements in 2023. Most notable was the launch of opBNB. First of all, opBNB is an open source codebase based on the Optimism Stack.
In fact, AMBCrypto recently reported opBNB’s daily trading volume has reached an all-time high, surpassing the number of top blockchains.
Besides opBNB, another major launch was BNB Greenfield, a web3-based decentralized storage blockchain.
It is also important to look at the price movement while mentioning the performance of BNB in 2023.
AMBCrypto’s examination of Santiment data shows that BNB’s price reached its peak on April 16, 2023. The price at the time was almost $350.
Conversely, the price of the coin plummeted to a low of $206 on October 14.
Source: Santiment
from now on
BNB The chain posted a blog revealing its 2024 roadmap, with several new updates planned. First, we decided to migrate the functionality of the beacon chain to BSC.
There are four steps to migrating the functionality of a beacon chain to BSC.
The BNB Beacon Chain, designed for staking and governance once essential to BSC, is evolving 🔮 🙌
Changes in the blockchain environment have led to the discontinuation of beacon chains due to redundancy and complexity.
Read ahead to know more 🧵 (1/5)https://t.co/8MfyU5vuRk
— BNB Chain (@BNBCHAIN) December 19, 2023
These four phases will be implemented at different times during the first half of next year.
The first sunset fork of the BNB Beacon Chain and the Feynman hard fork of the BNB Smart Chain are scheduled to take place in February 2024. This will be followed by a second sunset fork of the BNB Beacon Chain in May.
BNB’s price action has turned bullish as the BNB chain plans an upcoming hard fork.
According to CoinMarketCap, BNB is up over 3.7% over the past 7 days. At the time of this writing, it was trading at $259.96, with a market capitalization of over $39 billion.
To better understand how 2023 will end for BNB, AMBCrypto took a look at the coin’s daily chart. BNB’s Bollinger Bands reveal that the coin’s price is in a highly volatile zone. MACD also showed a bullish crossover.
read BNB price prediction 2023-24
BNB Chain’s Relative Strength Index (RSI) and Chain Money Flow (CMF) both moved north, encouraging investors to BNBPrices are rising later this year.
Nonetheless, if RSI enters overbought territory, selling pressure will be applied to the coin, which could cause problems.
Source: TradingView