BNB chain yield mining triggers demand for BNB for Scroll mining. Can the cryptocurrency sustain the rally towards $200?
Exploring the surprising reason behind BNB’s extended short term rally which has allowed it to decouple from the rest of the market.continues to rally even as the rest of the market struggled to maintain the bullish momentum. It has been building on the upside achieved during the weekend but there is one major drive behind its bullish extension.
Bitcoin and ETH experienced outflows on Tuesday, 8th October, leading to lower prices in the last 48 hours. BNB managed to push higher during the same period courtesy of the sustained demand. It traded at $580 at press time after rallying by almost 3% on Tuesday.The bullish extension also allowed BNB to achieve over 6% upside in the last seven days. This made it the biggest gainer in the list of top 10 cryptocurrencies by market cap.
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