As bulls emerged in anticipation of Donald Trump’s inauguration, cryptocurrencies have seen significant gains over the last few sessions.
The surge in trader activity confirms the enthusiasm of traders.
BitDegree shows Binance 24 hour trading has exploded from $4.78 Billion on 11th January, to $19.06 Billion yesterday.
This is an astonishing 298.74% in a single week. At the time of press, this metric was at $17.51 billion.
Chart By BitDegree
Binance’s crypto-trading volumes also reached record highs in December of last year, after Trump won the election.
The surge in trading volumes on the exchange has also boosted demand for BNB, the native asset.
After a surge of nearly 4% on the weekly chart, this altcoin is now trading at $715.
BNB’s gains could be extended in future sessions as players continue to execute speculative trades while attention is focused on the US inauguration ceremony scheduled for 20th January.
BNB price rises ahead of US Inauguration
Binance Coin has retested at $715 over the last 24 hours, as cryptocurrency rallies on Trump’s Inauguration optimism.
The 20th of January is expected to be a historical event in which a pro-crypto US government will take office.
This year, the “Crypto Ball”, which is expected to be held in early December, could bring about bullish sentiments and propel digital asset prices into unprecedented heights.
David Sacks hosts a Crypto Ball three days prior to Donald Trump’s Inauguration, honoring Trump for being ‘the First Crypto President’. Michael Saylor is one of the special guests, along with Brian Armstrong, Michael Novogratz & more. #Bitcoin
Binance, the crypto trading and investment platform, is seeing a rise in demand.
In just three days, the alt has risen from $660 up to $715.
This notable increase in demand was due to the increased interest shown by investors for BNB assets.
On Thursday, Chain’s team announced an AI agent competition to encourage AI meme creators on the blockchain.
BNB demand is likely to be boosted by such ecosystem development, as a result of a soaring buying frenzy in the run-up to US inauguration.
BNB Price: What is next?
BNB’s price chart remained bullish over the last week, as markets were flooded by investors ahead of Donald Trump’s inauguration.
The latest price surge also saw the prices break above the upper limit of a wedge descending, indicating extended gains.
Binance’s massive buyer activity amid broad rallies may push BNB beyond the $720 barrier.
After clearing this obstacle, the price will rise smoothly to $700. Jake Gagain, a crypto fan, believes BNB will hit $1500 in this year’s bull market.
Prices Predictions for 2025: $BTC $175,000 $ETH $8,500/BNB $1,500/SOL $1,000 $XRP $5.25/DOGE $1.00/ADA $7.00/AVAX $400/DOT $47 What did I miss? !
While near-term pessimism could slow the expected uptick, it is possible that this would be delayed.
BNB could fall to $682 if it fails to hold above $720. This will wipe out the recent gains, and the bullish forecast.
Binance Coin’s performance is still heavily influenced by the sentiment of those in the crypto-industry.
As traders take advantage of Trump’s optimism following his inauguration, the digital asset space is displaying a bullish trend.
Analysts anticipate that these trends will continue, as the government’s new leadership is pro-crypto.
A better crypto future in the United States is likely to be a result of more friendly regulations, as well as bullish development such building a Bitcoin Reserve and altcoin exchange traded funds.
The post Binance Daily Trading Volume Jumps 300% Due to Trump’s Effect may change as new information becomes available.
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