BNB was on fire over the last few days as its high burn rate attracted the crypto community. During the last seven days, BNB tokens worth $574,800,583.92 were burnt. To date, over 42 million tokens have been burnt, which reflects BNB’s efforts to support the token’s deflationary characteristics. Burn #BNB burn… 🔥 Get your own […]
revealed that BNB’s price was in an overbought position, indicating a trend reversal in the coming days. Furthermore, BNB’s Market Value to Realized Value Ratio skyrocketed recently, which might be a possible market top indicator, increasing the chances of a price plummet.
However, a few of the metrics were also working in favor of BNB, providing some relief to the investors. For instance, BNB’s FTX funding rate went up over the last few days, reflecting higher interest from the derivatives market. Moreover,Source: SantimentSubscribe to get it daily in your inbox.
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