Is BNB Chain Set for a Remarkable Year in 2024?

BNB Chain’s 2024 Roadmap Unveiled

BNB Chain has revealed its roadmap for 2024, outlining exciting projects and developments for the upcoming year.

BNB’s Performance in 2023

BNB’s price experienced fluctuations throughout 2023, reaching its highest point in April and the lowest in October. Market indicators remained positive with a notable 3% increase.

Highlights of BNB Chain in 2023

In 2023, BNB Chain achieved significant milestones, including the launch of opBNB and BNB Greenfield. OpBNB, an open-source codebase based on the Optimism Stack, saw a surge in daily transactions, surpassing its parent blockchain. BNB Greenfield, a web3-based decentralized storage blockchain, was another major accomplishment.

BNB’s Price Action in 2023

AMBCrypto’s analysis of Santiment data revealed that BNB’s price peaked in April at nearly $350 and hit its lowest point of $206 in October.

Looking Ahead to 2024

BNB Chain’s 2024 roadmap includes the migration of Beacon Chain’s functionalities to BSC in four stages. The first sunset fork on BNB Beacon Chain and Feynman hardfork on BNB Smart Chain is scheduled for February 2024. Subsequent forks will take place in May and beyond.

Bullish Trends and Price Analysis

As BNB Chain planned upcoming hardforks, BNB’s price showed positive momentum. CoinMarketCap reported a 3.7% increase in the last seven days, with BNB trading at $259.96 and a market capitalization exceeding $39 billion at the time of writing.

Examining BNB’s daily chart, Bollinger Bands indicated high volatility, and the MACD displayed a bullish crossover. Both BNB Chain’s Relative Strength Index (RSI) and Chaikin Money Flow (CMF) moved upward, suggesting potential price increases in the concluding days of the year. However, caution is advised as an overbought RSI could lead to selling pressure and potential challenges.