Journalist
Posted:
- The price of BNB reached its highest level in 2023 in April and its lowest level in October.
- BNB rose by more than 3% and market indicators looked optimistic.
The year 2023 was quite eventful BNB chain [BNB] as it launched quite a few notable projects. While the blockchain witnessed several developments in 2023, BNB Chain has now presented its roadmap for 2024, highlighting the projects in the pipeline.
A look at BNB Keten in 2023
BNB Chain recently posted blogging highlighting achievements in 2023. The most notable was the launch of the opBNB. To start, opBNB is an open-source codebase based on the Optimism Stack.
In fact, AMBCrypto recently reported that opBNB’s daily transactions reached an all-time high as it managed to surpass even the parent blockchain’s numbers.
Besides opBNB, another major launch was BNB Greenfield, a web3-based decentralized storage blockchain.
In addition to BNB’s performance in 2023, it is also important to look at the price action.
AMBCrypto’s examination of Santiment data showed that BNB’s price reached its highest level in 2023 on April 16, when its value reached almost $350.
On the contrary, the price of the coin plummeted to a low of $206 on October 14.
Source: Santiment
Moving forward
BNB Chain has posted a blog revealing its 2024 roadmap, with several new updates planned. First, it was decided to migrate the functionalities from Beacon Chain to BSC.
There will be four phases to migrate the functionalities from Beacon Chain to BSC.
The BNB Beacon Chain, designed for staking and governance, once vital to BSC, is evolving 🔮 👀
With changes in the blockchain landscape, redundancy and complexity are leading to the deprecation of the Beacon Chain.
Read on for more information 🧵 [1/5]https://t.co/8MfyU5vuRk
— BNB Chain (@BNBCHAIN) December 19, 2023
These four steps will be available at different times in the first half of next year.
The first sunset fork on BNB Beacon Chain and Feynman hard fork on BNB Smart Chain will occur in February 2024. This will be followed by a second sunset fork on BNB Beacon Chain in May, and so on.
As BNB Chain planned the upcoming hard forks, BNB’s price action turned bullish.
According to CoinMarketCap, BNB is up more than 3.7% over the past seven days. At the time of writing, it was trading at $259.96 with a market cap of over $39 billion.
To better understand how 2023 could end for BNB, AMBCrypto looked at the coin’s daily chart. BNB’s Bollinger Bands revealed that the coin’s price was in a highly volatile zone. The MACD also showed a bullish crossover.
Read BNB’s price forecast 2023-24
Both BNB Chain’s Relative Strength Index (RSI) and Chaikin Money Flow (CMF) have moved northwards, indicating that investors may BNB‘s price increases during the last days of this year.
However, if the RSI moves into the overbought zone, it could put selling pressure on the coin, which could cause problems.
Source: TradingView