Binance Coin (BNB) Signals Bullish Breakout as the Exchange Announces Maiden Re-entry of the Indian Market
The post Binance Coin (BNB) Signals Bullish Breakout as the Exchange Announces Maiden Re-entry of the Indian Market appeared first on Coinpedia Fintech News
After teasing with a new all-time high above $700 in early June, Binance Coin (BNB) has continued to consolidate in a bearish outlook in the past few weeks. The large-cap altcoin has viciously defended its fourth position in the crypto industry by market data, despite the notable competition from Solana (SOL).
According to the latest crypto data, BNB had a market capitalization of about $75.5 billion whereas Solana had a total valuation of around $67.6 billion.
Growing Web3 EcosystemThe Binance ecosystem has continued to grow in the past year despite the legal tribulations that led to the imprisonment of founder and former CEO Changpeng Zhao (CZ).
According to the latest market data, the BSC network takes pride in more than $4.2 billion in total value locked and nearly $5 billion in stablecoins market cap. Some of the largest DeFi protocols on the BSC network include the lending platform Venus, and DEX protocol PancakeSwap (CAKE).
As an EVM-compatible chain, the BSC network has attracted more attention from the Ethereum ecosystem due to its reliable security, low transaction fees, and high throughput.
Regulatory Compliance#Binance goes live in India 