Binance Dreams of a $1000 Resistance as NFT and DEX Pay Off

The first week of February delivers mixed results for the cryptocurrency market. Solana, XRP, and others witnessed a steep fall of 2% or more. Meanwhile, Binance Coin is showing signs of revival. It is rebounding from last week’s low.  

When the market started today, Binance Coin was finally up 1.51%. it increased to $580. Compared to last Monday, it is a gain of 17%.  

Investors are happy that the non-fungible tokens are selling off fast.  

Non-fungible tokens holding fort 

The sales of non-fungible Binance tokens increased by 24% in the last week. There has been a staggering increase in the buyers who flock to the network. There are around 24000 investors of Binance tokens now. But February saw mixed growth for the crypto market players.  

Ethereum could not keep up the pace with token sales. In the last 7 days, the sale of ETH tokens dropped more than 40%. In the same breath, Solana fell 32% and Bitcoin 71%.  

Profits Soar 

The Binance network is gaining popularity as a decentralized crypto. The last 24 hours have been good for Binance by all means. The Blockchain transactions also reached $2.4 billion in the last day. Certainly, the volume also improved by 20%, the highest point in the last week. 

A good burn rate is also helping Binance to maintain its market volume. There were loads of real-time burns in the last week. The net measure of real-time burn for this period was $279,645.  

Analysis for Coming Months 

Binance Coin’s future seems bright. In the upcoming months, the market will be more bullish. The first resistance could be $793. Analysts feel Binance could easily cross the mark within March. Once it does so, the next resistance would be $1000.  

It is a great opportunity for investors to invest in Binance in the short term.