Disclaimer: The CoinMarketCap cryptocurrency community price estimate is based only on the votes of its users. Estimates do not guarantee end-of-month prices.

The cryptocurrency sector is finally making some recovery after a crisis induced by the collapse of the crypto trading platform FTX, as does Binance Coin (BNB), the decentralized finance (DeFi) token powering the BNB Chain ecosystem, which has recorded gains on all of its charts.

However, such results are yet to incite much confidence from the crypto community at CoinMarketCap, which has estimated that BNB would trade at the price of $289.4 by the end of the year, according to the data retrieved on November 23.

Should the community’s estimates, which are the result of 768 votes cast by press time, prove correct, it would mean that, on December 31, 2022, BNB would be changing hands at the price that is lower by $6.2601 or -2.12% compared to its current price of $295.66.

Social BNB price estimate for December 31. Source: CoinMarketCap

Despite the lack of optimism in its future price, BNB Chain is recording high user activity, with 1.27 million active addresses per day, making it the most active blockchain, followed by Polygon (MATIC) with 834,000, and Fantom (FTM) with 457,000 active daily addresses as of November 23, Nansen data has shown.

BNB technical analysis

Meanwhile, BNB’s technical analysis (TA) indicators on 1-week gauges are positive, with the summary pointing to ‘buy’ at 12, as opposed to ‘sell’ at 5 and ‘neutral’ at 9. Analyzing these indicators more closely, the oscillators are suggesting ‘buy’ at 3, whereas moving averages (MA) also dwell in the ‘buy’ zone at 9.

BNB technical analysis summary 1-week gauges. Source: TradingView

As things stand, BNB is currently trading at the price of $295.66, recording a solid daily increase of 12.62%, along with gains on both its weekly and monthly charts, growing 9.16% on the former and 8.53% on the latter.

BNB 7-day price chart. Source: Finbold

At the same time, BNB’s market capitalization stands at $47.29 billion, making it the fourth-largest digital asset by this indicator, as per CoinMarketCap data retrieved by Finbold on November 23.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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