We are back with news and price analysis of the most influential crypto assets in the ecosystem: Binance Coin (BNB), Shiba Inu (SHIB), and Cardano (ADA). All three had a positive week, likely all determined by news relating to the projects.
Starting with BNB, its price is currently $252.16. It has seen an increase of 4.30% in the last 24 hours and 1.22% in the last 7 days. Market capitalization is $39.2 billion, with a trading volume of $565.5 million in the past 24 hours. The circulating supply is 155.9 million BNB, and its all-time high is still far away at $690.93.
Shiba Inu (SHIB) has seen a rise of nearly 10% in the past 7 days, bringing its price up to $0.00000745. Market capitalization is $4.4 billion, with a daily trading volume of $113 million. The circulating supply is 589.3 trillion SHIB with an average holding time of 201 days.
The ADA token has seen a 2.44% rise in the last week, bringing its current price to $0.28. Market capitalization is $9.8 billion and trading volume is $267.6 million in the past 24 hours. The circulating supply is around 34.9 billion ADA, with an average holding time of 80 days.
Let’s now look at the news that affected each project.
The SEC’s lawsuit against Binance and its CEO has caused uncertainty in the US crypto market, particularly concerning its native token BNB. Avorak AI, built on Binance’s Smart Chain, presents a potential solution. It would offer sophisticated trading algorithms and automated investment strategies to maximize returns and integrate with BNB. This could attract a new wave of users, including institutional investors, to the Smart Chain. It could also bring an influx of liquidity to BNB, potentially increasing its value.
Cardano’s Node 8.1.1 update improves network performance for stake pool operators and users. It introduces several features that contribute to the overall progress of the Cardano network, including efficiency, scalability, security, and better distribution of rewards. This could lead to smoother epoch transitions, a more streamlined staking process, and a more reliable and secure environment for ADA holders.
While the outcome of the SEC case will ultimately determine the future of BNB, the introduction of Avorak AI and the Cardano update demonstrate the resilience and adaptability of the cryptocurrency industry. They offer a glimpse into potential solutions that could lead to a brighter future for BNB and its community.
