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Binance Coin Hits New ATH; CZ Suggests Ethereum Next

Binance Coin Hits New ATH CZ Suggests Ethereum Next
  • Binance Coin has surpassed its ATH once more; it’s current ATH is $46.81.
  • BNB price may increase even more as Binance will proceed with its scheduled BNB burn.
  • In reply, Binance CEO Changpeng Zhao said that Ethereum will join Bitcoin and Binance Coin in the “new ATH club” soon.

Binance Coin has recently hit a new all-time high (ATH) at $46.81, according to CoinGecko. This news comes one day before its scheduled burning.

BNB 4-hour chart
BNB 4-hour chart (source: TradingView)

As the chart above shows, BNB has surpassed its previous ATH at $45, which was from January 10. During this time, a sharp retracement followed the ATH immediately before building up again.

However, BNB’s price pattern may become different this time since there will be an upcoming BNB burning. Currently, Binance has not yet confirmed how many BNB they will burn.

Meanwhile, Binance CEO Changpeng Zhao tweeted that Ethereum will soon join this so-called “new ATH club”.

At the time of writing, ETH price is at $1,328.97, according to CoinGecko. This is still $100 short from reaching its ATH.

ETH 1-day chart
ETH 1-day chart (source: TradingView)

Ethereum’s current price climb is its second attempt at breaking past the $1,350 psychological resistance level. If ETH succeeds this time, then what CZ said may happen soon. However, if ETH fails to break past this psychological barrier, people may get tempted to sell their ETH and bog down the price.

Read Also: Binance Coin (BNB) Price Analysis and Price Prediction 2021

Meanwhile, investment firm Pantera Capital recently suggested that ETH is undervalued despite its massive market capitalization.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.