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Cryptocurrency Report.

One Cryptocurrency Sustaining Below the Resistance Levels- Binance Coin (BNB)

15 August 2024

BNB
Investment Type
Crypto
Risk Level
Action
Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Binance Coin (BNB) is one of the popular digital assets created by one of the major crypto exchange platforms ‘Binance’ in 2017. BNB has a market capitalization of ~USD 76.79 billion (as per TradingView as of August 15, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index declined by 219.76 points (~5.35%) to 3888.40 for the week ending August 09, 2024. In the current week starting August 12, 2024, the index is trading with negative momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing bearish momentum for the current week.

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