Most cryptos have seen their valuation explode on the market lately. BNB, Binance’s native asset, is no exception to this trend. Better still, crypto has seen a most spectacular surge in the last 24 hours. Here in this article is what underlies this improvement.
An impressive 43% increase for Binance BNB
The latest news is that Binance crypto (BNB) has seen a staggering rise. Its price climbed more than 43% this week to reach a valuation of $613. A peak that it has not reached since December 2021. And this is no coincidence.
Indeed, the rally of this crypto coincides with the unveiling of the BEP 336 update. An advance which spurred an improvement intended to revolutionize the storage and processing of data on the Binance blockchain, like the Dencun update of Ethereum.
Concretely, this BEP 336 upgrade introduced what is technically called, “Blob-Carrying Transactions” (BlobTxà). This is an innovative concept that reshapes the management of large blocks of data on the Binance Smart Chain [BSC].
These blobs have had a positive impact, especially since they make it possible to streamline the verification of transactions. Which results in reduced network space consumption, storage and gas costs for users. In addition to optimizing data processing, BEP 336 introduces two important features. The Blob Market, which facilitates the regulation of storage costs, and a so-called pre-compilation contract which strengthens security.
Promising prospects for BNB?
It should be noted that this update is extremely promising for developers and users of the BSC ecosystem. Indeed, beyond a reduction in gas costs, it promises greater flexibility of the blockchain and improvement in network performance.
Analysts believe that ultimately, this upgrade should promote greater accessibility for developers, but also for newcomers to the Binance ecosystem. Which, we imagine, will not fail to support the growth of its native crypto.
In any case, from a technical point of view, we expect an upward trajectory for Binance BNB. Especially if its price exceeds the resistance level of 631 dollars. The price of BNB could then reach a resistance barrier located around $675.
In any case, if BNB price manages to maintain this bullish momentum after breaking above the resistance at $675, it could continue its ascent. This, with a possibility for him to reach the psychologically significant barrier of 700 dollars. It is currently worth around $610, up 6.08% over the last 24 hours.
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