The cryptocurrency industry took a drastic fall in May, with many cryptocurrencies losing 50% or more. The most popular cryptocurrencies of recent days, Binance Coin (BNB), Shiba Inu (SHIB) and Uniswap (UNI), were also included in this decline and the trio is still recovering.
NFT Platform Waiting For Binance Coin
Binance Coin, the fourth largest cryptocurrency by total market value, even retreated to the $200 band when it started from the peak of $ 670. As of the writing of this article, BNB, which is trading at 374 dollars, has increased by 5% in the last 7 days.
It can be said that the critical point for BNB is $400, which corresponds to the 50 EMA. In the continuation of this, the $ 450 resistance will be tested again. It can be expected that the BNB price will experience a positive activity, especially with the NFT platform that Binance stock market will launch in the summer. All transactions on the NFT platform will be made with BNB, which may increase the price.
SHIB COIN Lost 80% Value
Shiba Inu, known as a copy of Dogecoin and rising with the listing of the Binance cryptocurrency exchange, is currently having a difficult time. Shiba Inu, which has a total market value of $ 3.5 billion, is still ahead of cryptocurrencies such as Algorand, but it lost 81% in a short time.
SHIB, which fell even harder than when Bitcoin fell from $ 20,000 to $ 3,000, is trading at $ 0.00000707. The critical support for SHIB is known to be at $0.00000650, below which a close could push the price back to double-digit levels.
UNI Keeps Its Immobility
Uniswap, on the other hand, is inactive due to the inactivity in the DeFi sector. The decline in the cryptocurrency market also hit DeFi investors, and the industry is pretty quiet. UNI has not been able to achieve the desired rise despite the transition to Uniswap v3. As of the writing of this article, the critical resistance for UNI, which is trading at $ 24, is at $ 28.
UNI is the 10th largest cryptocurrency by total market capitalization, but has only gained 5% in the last 24 hours, actually slightly behind the performance of other cryptocurrencies.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.