BNB is a cryptocurrency created by Binance, surpassing the $900 line for the first time to mark the new historic largest (ATH) of prices.
When this article was published, BNB Smart Chain Network’s Native Currency Negotiated at $901as observed in the following graphics provided by CoinMarketCap:
The BNB’s excellent performance is well explainedbecause Binance announced an alliance with Franklin Templetona financial giant that manages $1.6 billion, will develop investment products.
As reported today, companies will take part in developing products that provide “agile liquidation, clear prices and access to competitive yields for a variety of investors.”
Simply put, the aim is to combine it with traditional finances and benefits offered by cryptocurrency networks as the cost of speed and low committees.
It is important to remember that Franklin Templeton entered the Real World Asset Tokenization Industry (RWA) in 2022 and, as reported by Cryptonotics, has a background called the Ochain US Government Money Fund (FOBXX), the third largest in the tokenized Treasury bond market.
Another reason for the BNB’s rise is that today in August, the US Producer Price Index (IPP) was known to be rising 2.6% per year, below the expected 3.3%, reflecting the price fluctuations in producers’ perceived goods and services. For that portion, the monthly IPP, which is projected to be 0.3%, fell to -0.1%, demonstrating a slower inflation in production costs.
This suggests that inflation at the producer level is falling faster than expected. It increases the chances of the country’s Federal Reserve cutting interest rates.
The market plans to reduce Jerome Powell’s agency by 25 basic points and get a rate of around 4-4.25%.
If the forecast is met, each drop in interest rates will reduce the cost of the loan, and more money is available in the system, making it a factor in cryptocurrency bullish. When this happens, resurfaces the appetite for investor risk Those who choose to place their holdings in assets that generate high yieldsassuming market volatility.
If macroeconomic conditions are blown away in favour, it is not unreasonable to see BNB overcome the $1,000 line for the first time in its history.
