Cryptocurrencies recorded significant surges over the past few sessions as bulls emerged ahead of Donald Trump’s inauguration ceremony.
Crypto trading platforms confirm the prevailing enthusiasm with surged trader activities.
BitDegree data shows Binance’s 24-hour trading mushroomed from $4.78 billion on 11 January to yesterday’s peak of $19.06 billion.
That suggests a staggering 298.74% within a week. The metric stood at around $17.51 billion at press time.
Also, data shows Binance dominated crypto trading volumes after Trump’s victory, hitting record peaks in December last year.
Meanwhile, the surged trading volume on the exchange enriches demand for the native asset BNB.
The altcoin trades at $715 following a nearly 4% surge on its weekly chart.
With players executing speculative positions as attention remains on the US’s 20 January inauguration ceremony, BNB could extend its gains in the upcoming sessions.
BNB’s price turns bullish ahead of the US inauguration
Binance Coin retested $715 in the past 24 hours as cryptocurrencies rallied on Trump’s inauguration optimism.
Enthusiasts expect the 20 January event to welcome a historic pro-crypto government in the United States.
The anticipated “Crypto Ball” could usher in bullish sentiments that will take the digital assets sector to unprecedented highs this year.
David Sacks is hosting a “Crypto Ball,” three days before Donald Trump’s inauguration honoring Trump as ‘the first crypto president’.
Special guests include Michael Saylor, Brian Armstrong, Michael Novogratz, & many more.
#Bitcoin 🚀
BNB displays bullishness as Binance sees increased demand from crypto traders and investors.
The alt jumped from $660 to surpass $715 on Thursday within three days.
The notable jump signaled a soaring demand for BNB as assets in the BNB Chain gained increased attention.
For instance, the Chain’s team unveiled an AI agent tournament on Thursday to attract AI meme developers on the blockchain.
Such ecosystem developments likely contribute to BNB’s surged demand amidst a skyrocketing buying frenzy ahead of the US inauguration.
What’s next for BNB price?
BNB maintained a bullish price structure over the past week as investors flooded the markets ahead of Donald Trump’s inauguration.
Further, the latest surge saw prices breaking above a descending wedge’s upper boundary, suggesting extended gains.
Magnified buyer activity on Binance amidst broad-based rallies could propel BNB past the nearest $720 resistance.
Clearing this hurdle will trigger smooth rallies to $750. Crypto fan Jake Gagain expects BNB to hit $1,500 during this year’s bull run.
Meanwhile, near-term bearishness could delay the anticipated uptick.
Failure to steady above $720 might plummet BNB to $682. Such a dip will erase the latest gains and nullify the bullish projection.
Nevertheless, sentiments in the crypto industry remain crucial in determining Binance Coin’s performance.
The digital assets space displays significant bullishness as traders capitalize on Trump’s inauguration optimism.
Analysts expect these trends to continue as the new government welcomes a pro-crypto leadership.
Friendlier regulations and bullish developments such as building a Bitcoin reserve and altcoin ETFs suggest a better future for cryptos in the United States and globally.
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