BNB prices continue to ignore wider market trends, reaching an impressive new peak of $1,240 to start the week, solidifying their position as one of the top performers in the cryptocurrency industry.
BNB Chain is partner with ChainLink
Over the past 30 days, BNB prices have recorded an impressive 41% increase, called one of the leading Oracle providers in the market, due in part to the recent collaboration between BNB Chain and ChainLink.
This partnership was published announcement On Monday on social media platform X (formerly Twitter), ChainLink revealed that BNB chains have adopted data standards to make official US commercial data available on-chain.
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Data procured from the Bureau of Economic Analysis will allow the Chain Link price feed to provide important macroeconomic indicators directly to the BNB chain.
These indicators include key indicators such as Gross Domestic Product (GDP), Personal Consumption Expense (PCE) Price Index, and actual final sales to private domestic buyers.
ChainLink The availability of such data opens up a set of new possibilities for developers, claiming that it can create new types of digital assets, forecast markets that leverage transparent economic inputs, and permanent futures markets based on official government statistics.
Additionally, Decentralized Finance (DEFI) protocols can improve risk management strategies to suit actual economic situations.
BNB price target has been raised to $1,500
Market expert Crypto King is speaking out about the trajectory of BNB prices. Claim The token exhibits a clear trend in upward momentum.
He identified three important breakout phases. One caused a strong rally in September, in July, leading to the current breakout. Crypto King has set an ambitious $1,500 target for Binance Coin, suggesting that this structural climb is not random.
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However, not all market analysts share the same optimism. Another expert known as X's Crypto Claws issued a warning memo, caveat If the current momentum is shaking, it could be on the horizon to fix it towards the $700 range by December.
This scenario means a potential 43% drop in BNB prices, raising concerns about the technical structure of the token and the possibility of a pullback needed before the next important bullish leg.
In addition to BNB's price performance, other cryptocurrencies also follow the token lead. Bitcoin (BTC) surged past the $125,000 mark and hit a new record, while Ethereum (ETH) is 5% shy to break its previous highs.
Meanwhile, ChainLink's native token Link is well below its all-time high of $52.70 and is currently trading below $23. This is a nearly 57% gap that suggests room for growth.
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