• BNB resisted going down with the rest of the crypto-market
• Unrealized profits of short-term holders increased

At a time when the broader crypto-market was recording a severe decline in volume, Binance Coin’s [BNB] transaction volume hit its highest volume since February. In fact, according to Santiment, this has been no small feat either, especially as the metric rose to 1.24 million.

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These sort of circumstances are usually characterized by increased buying of assets. Additionally, a surge in volume can serve as an impetus for cryptocurrency prices to soar. However, there are some conditions to this –

The ‘power’ behind BNB’s value

Rising volumes on decreasing value could be a sign of declining momentum and a potential reversal. However, it was different in BNB’s case.

As the transaction volume increased, so did the coin’s price which was able to decouple from the dumps on Bitcoin [BTC] and Ethereum [ETH].

Thus, the decoupling could be an indicator of rising price momentum. Nonetheless, BNB’s price growth has been sideways and is subject to market volatility.

However, the coin’s ability to override a seven-day BTC-like 10% decrease has resulted in sustained profits for its holders.

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Author: Victor Olanrewaju

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