Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram Tiktok
Voice of Crypto
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
Reading: Layer 2 Solution Boba Network Integrates With BNB Chain, Will This Trigger Price Action?
Share
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Blockchain
  • VOC Explained
Reading: Layer 2 Solution Boba Network Integrates With BNB Chain, Will This Trigger Price Action?
Share
  • bitcoinBitcoin(BTC)$27,654.00
  • ethereumEthereum(ETH)$1,898.31
  • tetherTether(USDT)$1.00
  • binancecoinBNB(BNB)$311.65
  • usd-coinUSD Coin(USDC)$1.00
  • rippleXRP(XRP)$0.497659
  • cardanoCardano(ADA)$0.375871
  • staked-etherLido Staked Ether(STETH)$1,899.11
  • dogecoinDogecoin(DOGE)$0.072302
  • solanaSolana(SOL)$20.99
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Blockchain
  • VOC Explained
Search
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > News > Layer 2 Solution Boba Network Integrates With BNB Chain, Will This Trigger Price Action?
News

Layer 2 Solution Boba Network Integrates With BNB Chain, Will This Trigger Price Action?

Adekunle Joshua
Last updated: 2023/03/14 at 1:06 PM
Adekunle Joshua Published November 3, 2022 March 14, 2023
Share
VOC, Voice of Crypto, BNB

Key Insights

  • Like Ethereum, however, the BNB is now home to a layer-2 scaling solution after integrating with the Boba Network.
  • Binance Smart Chain is home to almost 500 Defi protocols, which hold a combined Total Value Locked (TVL) of about $6 billion.
  • Oversold RSI conditions point to a possible reversal in the price of an asset, leading to doubts about BNB’s ability to rise further and break the $350 resistance.

Despite being the second largest Defi blockchain in the world, the Binance Smart Chain (BNB) had no layer-2 (L2) solutions before November this year.

Contents
Key Insights Boba Network Integrates With BNB ChainBNB’s Price Outlook: Can the Crypto Hit $350?

Like Ethereum, however, the Binance Smart Chain is now home to a layer-2 scaling solution after integrating with the Boba Network.

 Boba Network Integrates With BNB Chain

The new development was unveiled by Boba via a tweet from its Twitter handle, detailing the cooperation between the Boba network and the Binance Smart-Chain.

🤩 Let's welcome BobaBNB! 🤩

- Advertisement -

We're excited to announce the launch of scaling solution for @BNBCHAIN! 🚀

BobaBNB caters to the massive user base and dev community enabling smarter contracts and lightning fast transactions 🏎️
🧵 1/X pic.twitter.com/8IwGCbooJr

— Boba Network 🧋 (@bobanetwork) November 1, 2022

- Advertisement -

This new integration will enable the L2 and L1 networks to integrate with various protocols in the Decentralized finance (Defi) space, such as SushiSwap, which is scheduled to debut on the BOBA BNB L2.

So far, Boba is the first Layer 2 scaling solution on the Binance Smart chain. The integration between the two will allow for the protocols on the chain to experience cheaper transactions, along with faster network speeds.

At the time of writing, the Binance Smart Chain is home to almost 500 Defi protocols, which hold a combined Total Value Locked (TVL) of about $6 billion.

This new integration intends to make the BNB chain a strong rival to Ethereum, the largest Defi chain, with a total value locked (TVL) of more than $31 billion.

- Advertisement -

BNB’s Price Outlook: Can the Crypto Hit $350?

Throughout the year’s first half, the outlook on BNB remained rangebound. However, after a breakdown of the $350 zone in September and the price rejection that followed, BNB has entered bearish waters and has failed to break above this level.

Chart showing price action on BNB, VOC, Voice of crypto
Chart showing price action on BNB | Source: Tradingview

This price point has remained unbreached for six months now. However, with the recent 21.08% rise, BNB continues to inch closer to it.

Considering this level has remained unbroken for about five months now if BNB manages to break above this zone, the cryptocurrency may see investors begin to buy, pushing the price upwards to the next resistance, around $455.

However, if the bulls cannot push the price of BNB upwards for a breakout from this $350 resistance, the cryptocurrency may decline further downwards to the $299 zone.

Price action on BNB, VOC, Voice of crypto
Price action on BNB | Source: Tradingview

Following last week’s bullishness, BNB rose along with the rest of the crypto market and now shows oversold conditions on its daily RSI. Oversold RSI conditions point to a possible reversal in the price of an asset, leading to doubts about BNB’s ability to rise further and break the $350 resistance.

 

Disclaimer: Voice of crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

You Might Also Like

MetaZone Secures Funding to Expand the World’s First Tokenized App Platform for the Metaverse

5 Top Cryptocurrencies To Watch this Week: MATIC, ARB, CAKE, INJ, RNDR

10 Top Cryptocurrency Exchanges in the USA

Potential Losses for the U.S. in its Cryptocurrency Fight

BIG Catalyst Incoming for the Ethereum (ETH) Price

TAGGED: Blockchain, DeFi, Ethereum
Share This Article
Facebook Twitter Email Copy Link Print
Previous Article VOC, Voice of Crypto, AAVE Aave (AAVE) On-chain Activity Spikes, How This May Affect Price Action?
Next Article DOGE Dogecoin Price Crypto Twitter Speculation Makes Dogecoin Whales Move 41M DOGE to Binance
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
techcircus
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
MetaZone Secures Funding to Expand the World’s First Tokenized App Platform for the Metaverse
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram Tiktok
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Legal

  • Global Events
  • Advertise With Us
  • Privacy Policy

Know Us

  • About Us
  • VOC Team
  • VOC Vigilantes
  • Brands Who Trust Us
  • Contact Us
Copyright © 2023 Voice of Crypto. All Rights Reserved
Welcome Back!

Sign in to your account

Lost your password?