On October 8th, an early adopter and holder of bAn coin [BNB] sent $1.48 million worth of coins to bAn
On October 8th, an early adopter and holder of bAn coin [BNB] sent $1.48 million worth of coins to bAn. Lookonchain revealed that due to holding the token for such a long time, the holder made a profit of $54 million from the sale.
The first sale by the holder was in 2018, when 500543 BNBs were deposited into B An, valued at $56 million. The average price is $112. Interestingly, the recent sell-off has not led to a significant decline in BNB.
No strong movements
According to CoinMarketCap data, the BNB turnover price at the time of publication was $211.75. This is because it has only lost 0.89% of its value in the past 24 hours.
Regardless of the strength displayed by tokens, retail investors may need to be careful when opening positions. The technical indicators also seem to support this viewpoint.
From the 4-hour chart, the Bollinger line shows that BNB volatility has stabilized. In this situation, significant fluctuations rarely occur. In addition, the upper and lower limits of BNB prices did not touch $211.
Therefore, the token is not overbought or oversold. Therefore, if individual investors want to profit from their initial positions, they may need a quiet market to change. Another indicator that displays similar emotions is the Moving Average Convergence Divergence (MACD).
At the time of writing this article, the MACD was 0.1, indicating a bullish trend in BNB. However, the 12 day (blue) and 26 day (orange) EMAs are located below the zero histogram point and are very close to each other.
High open positions mean increased liquidity, while low open positions lack liquidity. For BNB, open positions indicate a mostly wait-and-see attitude and may wait for significant changes in price trends before taking a stance.
In the coming days, we may adhere to this stance as the market seems likely to continue to consolidate sideways.
(Personal opinions do not constitute suggestions)
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