Binance 384K USDT transactions on TON: Mark more things? star-news.press/wp

• Binance 384K USDT recorded on Tron, indicating an increase in the basic system and the use of the network.
• BNB is trading in a bullish wedge and can target $ 690 if the resistance is broken with a strong size.

Binance Coin (BNB) has been traded by 1.5 % over the past 24 hours and has slipped by 2.86 % on the weekly graph. However, the modest decline has not shake the investor’s conviction-the series continues to grow in the involvement of strength signals.

Binance flows go equivalent – what is cooking?

Cryptoquant open There is a significant increase in encryption flows, with the majority associated with nananis – exchange of cryptocurrencies behind the BNB code.

According to the report, Binance 384,000 USDT recorded on Tron, bypassing the size of the BYBIT and HTX.

Source: Cryptoquant

This high flow usually indicates an increase in BNB’s use in both transactions processing on the platform and through the Binance Smart series.

The analysis revealed that the market participants are likely to explain this as a climb, as the number of chain headlines increased significantly.

The number of new titles on the series increased by more than 17 %, which increased 802,800 at the time of the press. However, these new addresses have not carried out major transactions, as the number of transactions analysis showed a slight decrease by 1.2 %.

One of the possibilities is that these new addresses purchased BNB during a slowdown in the broader market, which contributed to lower transactions.

Immediate sellers fade as gains in favor

The immediate market activity has continued to decline in the past few days. On the sixteenth of June, the activity of the sale side was near $ 6 million. By the time of the press, it reduced only $ 1.57 million.

Source: Coinglass

When the size of the assets that are sold decreases under the growing adoption conditions, it usually indicates that investors prefer to keep it instead of selling.

Meanwhile, derivative merchants remained confident. OI’s weighted financing rate has been positive, indicating that it is pushed to pregnancy for their exposure.

The BNB Market movement remains strong

The BNB Market Analysis is currently trading in a bullish pattern determined by horizontal support and the descending resistance line.

Source: TradingView

Although the pressure is sold, the origin still turns upward, with a green candle forming after a bounce of the support level.

If BNB reaches the resistance line and gains sufficient momentum, it may explode and gather about $ 690, based on historical trends.