BNB price action could be headed for new highs

At the time of writing the Bitcoin price action was at $67,805 the equivalent of a rally of over 9%, while the Binance portal cryptocurrency BNB reported a recovery to $552 with projected upside continuity, hence the purpose of this post is to socialize the main reasons that may lead BNB to new all-time highs.

According to Nancy Lubale of the Cointelegraph portal, "BNB's price could target new highs as multiple metrics point to Binance remaining a major player in the cryptocurrency sector."

The person Lubale is referring to is well-known DeFi analyst at K33 Research David Zimmerman, who has indicated that BNB's "price action has led to increased on-chain activity, and there is life once again in BSC"

Now, "BNB's performance has been bullish over the past month. The layer 1 token has risen 50% in the last 30 days and 61% in March alone, reaching USD 645 on March 16, its highest value since November 2021"

On the other hand and According to DappRadar data, "BNB Chain remains a powerhouse among layer 1 blockchains, handling 7.07 million transactions in the last 30 days versus Ethereum's 1.2 million transactions"

Cointelegraph. 3 reasons why Binance’s BNB could rally to a new all-time high. Link

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph