Binance Coin (BNB) Looks To Gain Potential 33% Profit & HUH Token (HUH) Soars 70% Last Week
Altcoins such as Binance Coin (BNB) and HUH Token (HUH) are looking to turn the tide as a bullish swing enters the Crypto space. Binance Coin (BNB) has been in a downward trend since the start of 2022, the native coin of the Binance Exchange began the year at $532 but has since lost 33% of its value and currently sits at $363 at the time of writing. Now could be a good time to invest in the coin as it has been consolidating just about the $336 level of support for the last week. However, as the whole Crypto market in general still looks to be on a bearish, it could be worth holding off for a little while and seeing if the coin continues to hold support of eventually dips below $336.
Reasons To Be Bullish
The price of Altcoins has traditionally followed the same pattern as Bitcoin (BTC), this has continued suit in Q4 of 2021 and the beginning of 2022. However, as more people and industries continue to flock into the Crypto space it is only a matter of time before the coins and networks with strong utility cases break away from Bitcoins dominance and run on their own. Binance (BNB) is ranked third in terms of market cap behind the giants of Bitcoin (BTC) and Ethereum (ETH). Compared to the second biggest exchange, Coinbase, we can see that Binance has almost 30 million more weekly visits and a trading volume 4 times larger. As global adoption of Crypto continues, it is highly likely that the majority of new investors will be using Binance as it is the most established, this can only mean one thing, price appreciation.
What Else Affects The Price of BNB?
As well as being the largest Cryptocurrency exchange, Binance also offers a wide range of other initiatives to investors that make it a preferred choice, some of these include; trading a futures market, releasing initial coin offerings (ICOs) and a bustling NFT marketplace. Again, as this continues to grow and be widely adopted by more, it should only benefit the holders of BNB. Alongside this, as there is a fixed amount of BNB coins in circulation, the price will continue to rise as demand for the coin continues to increase. Experts predict that Binance (BNB) could trade with four figures over the coming years.
Into The MetaHUHverse
HUH Token (HUH) continues to gain popularity after launching in December 2021, The utimeme coin initially increased by over 6000% before following the trend of every crypto and decreasing over Christmas and into the New Year. Last week HUH saw a 70% rise in price after a successful influencer promotion campaign, the first of many to come over the coming months. HUH look to continue their expansion and growth by allowing their influencers to distribute NFTs to their followers, creating a unique bond between artist and fan. Binance and HUH’s growth could see a similar pattern over the next year as holders of the Utimeme coin are rewarded in HUH and BNB for every referral they bring to the platform.
The future looks bright for Binance (BNB), its current all-time high of $686.31 looks set to be a distant memory as global adoption in cryptocurrency comes in and its NFT marketplace picks up more traction. With initial coin offerings and the ability to stake a number of different coins, don’t be surprised to see BNB hit $1000 before the end of the year. 2022 could also be the year of HUH, with more influencers on board, an NFT marketplace and a play to earn game in the works, it looks like exciting times are ahead. Of course, do your own research before buying any coin as this is intended for educational purposes and not financial advice. Learn more about HUH Token here:
Buy On HUH Website- https://swap.huh.social/
Buy On PancakeSwap: https://pancakeswap.finance/
Buy On Uniswap: https://app.uniswap.org/#/swap
Website: https://huh.social/
Telegram: https://t.me/HUHTOKEN