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BNT/USD is preparing to touch the $0.500 level

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Bancor price forecast reveals that BNT is moving higher with a profit of 5.84%, as the coin is preparing to cross above the channel.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.457
  • Bancor’s market capitalization – $86.5 billion
  • Bancor circulating supply – 198.8 million
  • Total supply of Bancor – 198.5 million
  • Bancor Coinmarketcap Ranking – #258

BNT / USD . market

Main levels:

Resistance Levels: $0.550, $0.600, $0.650

Support Levels: $0.350, $0.300, $0.250

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BNTUSD – Daily Chart

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BNT / USD It is trading in green at the time of writing as the coin is preparing to cross above the upper boundary of the channel with a profit of 5.84%. According to the daily chart, the candlestick formation is currently following the upward movement but crossing below the 9- and 21-day moving averages could put the market price south and the nearest support level is located around the $0.450 level.

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Bancor Price Prediction: Bancor price may go higher

The bancor price Currently above the 9 and 21 day moving averages. Meanwhile, an increase above this barrier could trigger an intense buying at the $0.550, $0.600 and $0.650 resistance levels, respectively. On the contrary, Bancor price is likely to hold the support level at $0.420 which might be the daily low. Therefore, if Bancor price drops below this support level, it is likely to reach the nearest support at $0.400.

Meanwhile, critical support could be located around $0.350, $0.300 and $0.250 if the selling volume continues to increase. More so, the RSI of the technical indicator (14) reveals that the market may rise further if the signal line continues to move above the 50 level.

Against Bitcoin, buyers push the coin above the 9-day and 21-day moving averages. Meanwhile, from the upside, the nearest resistance level is above the upper boundary of the channel at 2600 SAT and above as the technical indicator’s RSI (14) stays above the 50 level.

BNTBTC – Daily Chart

Looking at the negative side. The closest support level is at 2200 SAT, if the price falls further to create a new low, then lower support can be found at 2100 SAT and below. In addition, if the 9-day moving average crosses above the 21-day moving average, this could be confirmation that the market may follow the upward movement.

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Blockchain

Binance publishes official Merkle Tree-based reserve guide

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Two weeks after the launch of Binance Undertook to develop a Proof of Reserve (PoR) mechanism In response to FTX liquidity failure and bankruptcy, it published Her official response.

In an announcement on the Binance website, the exchange explained how users can use the mechanism to verify their holdings. Currently, the only token available for verification through Merkel treebitcoin based systemBTC), although the announcement says additional coins will be added in the coming weeks.

It also highlighted upcoming transparency updates, which include engaging third-party auditors to review its PoR results and implementing ZK-SNARKs into its PoR methods, among others.

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Days after Binance announced its intention to PoR, it went missing Release general details of her portfolio titles and on-chain activity.

Binance CEO Changpeng “CZ” Zhao tweeted about the latest update. Naturally, the Twitter community and many of them have responded with positive comments towards the transparency efforts.

Related: Proof of Reserves: Can Reserve Audits Avoid Another FTX-like Moment?

Binance was one of the first companies to follow FTX to start the trend of issuing Proof of Funds. Bybit released its backup wallet addresses on November 16, a week after the initial incident, along with other major exchanges, such as BitfinexAnd the OKX, KuCoin And the Crypto.com.

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Both Huobi and Gate.io They were shot after publishing their information, which included loaned money. Cryptocurrency investment products provider Grayscale Investments said it WS Reluctant to release wallet addresses Because of security concerns.

On November 10, Chainlink Labs PoR audit services offered For exchanges across space as a solution to the trust issues that begin to emerge in centralized exchanges.

CoinMarketCap market tracker tool Shared on November 22nd that it added a new featurewhich is a PoR tracker for the exchanges that published the information.