Binance Coin (BNB): Will the 200M GameFi Fund and UK Relaunch Push Prices Higher?

Briefly

  • Binance Coin (BNB) has seen its trading volume increase by 35% within the past 24 hours.
  • Aminoca brands and Binance Smart Chain collaborated for a $200 million GameFi projects fund.
  • Binance CEO revealed that the crypto project would relaunch in the United Kingdom in the coming six to twelve months.

Binance is among the top global cryptocurrency exchanges as far as daily trading volume is concerned. Binance Coin is the platform’s native coin and trades with the BNB symbol.

Meanwhile, Binance Smart Chain is the exchange’s blockchain ecosystem, introduced 24 months after the company in 2019 April.

200M GameFi Fund and the UK Relaunch as Growth Catalysts

On 23 October, Binance Smart Chain (BSC) developer highlighted how BNB could achieve further deflationary nature.

On 6 December, Aminoca Brands and Binance Smart Chain confirmed they would start a $200 million program to support new crypto-related gaming projects created on the BSC network.

As among the leading blockchain platforms, Binance Smart Chain will invest from its accelerator arm for GameFi, non-fungible tokens (NFTs), and decentralized finance (DeFi).

That shows the move by Binance Smart Chain to expand to further developments.

Besides all that, Changpeng Zhao, Binance CEO, revealed launching an entity in the United Kingdom within the next six to twelve months. The executive confirmed that the entity would adhere to the FCA policy. Furthermore, Binance has been on a Public Relations (PR) push over the past months, welcoming regulators.

All these developments have the potential to support Binance Smart Chain growth. With that, BNB will see its price surging.

Time to Buy BNB?

Binance Coin (BNB) traded at $552 during the 6 December trading sessions. We may have to analyze the altcoin’s November performance and its ATH for price direction.

BNB registered its all-time-high at $686, recorded on 10 May. At this level, the cryptocurrency traded 24% or $134 high. Meanwhile, the alt touched its lower level at $514 on 1 November. BNB hit its swing peak on 7 November at $668, a monthly high. That shows that the coin gained 30% from 1 November to 7 November.

However, Binance Coin plummeted by 17% from 7 November to 6 December. However, the impressive developments show that BNB has the strength to hit $600 before 31 December. That means a dip-buying opportunity.