Top 3 coins in the BNB ecosystem are on the rise

This article is machine translated
Show original
Here is the English translation:

BNB tokens are seeing strong growth, with PancakeSwap (CAKE), Mantra (OM), and Space ID (ID) all making powerful moves in the past week. CAKE has risen 55% as the market capitalization of BNB regained its position above Solana, benefiting from renewed interest in this ecosystem.

OM continues to lead in the Real-World Assets (RWA) space, reaching a new All-Time-High amid a 144% surge across the sector. Meanwhile, ID is attempting to recover after a difficult month, and if a "golden cross" forms, it could push the price higher, further bolstering the performance of BNB tokens.

PancakeSwap (CAKE)

CAKE has increased 55% over the past seven days as the market capitalization of BNB surpassed Solana. This price surge came after Binance founder CZ actively promoted the chain and BNB's "AI-first" approach.

This renewed interest has driven demand for BNB tokens, with CAKE benefiting from this momentum.

CAKE price analysis.CAKE price analysis. Source: TradingView.

PancakeSwap remains the largest application on BNB, generating over $74 million in fees in the past week. Over the past seven days, it has become the third-highest revenue-generating protocol in the crypto space, behind only Tether and Meteora.

If the momentum continues, CAKE could rise to challenge the $3.41 resistance level. A breakout could push the price higher, but if the trend reverses, it could drop to $2.15. Losing that support could open the way for a decline to $1.35.

Mantra (OM)

Mantra (OM) has increased 27% in the past seven days and 94% in the past 30 days.

This price surge is occurring as the broader Real-World Assets (RWA) space is growing, up 144% in the past three months. OM remains one of the leading coins in this developing ecosystem.

OM price analysis.OM price analysis. Source: TradingView.

Its price has reached a new All-Time-High in recent days, indicating strong upward momentum.

If the uptrend continues, OM could soon surpass $8, further expanding its gains. However, if it loses momentum, the price could retrace to $6.47, with the potential to drop further to $5.7 or even $5.27.

Space ID (ID)

Space ID (ID) is one of the leading coins in the Digital Identity space and has increased more than 11% in the past seven days. Despite this short-term recovery, it is still down 31% in the past 30 days.

Its market capitalization currently stands at $273 million as it attempts to regain momentum.

ID price analysis.ID price analysis. Source: TradingView.

The price chart suggests that ID may form a "golden cross," a bullish signal that could drive further gains. If this occurs, ID could challenge the $0.37 resistance level, and a breakout could push it to $0.47, the highest level since mid-January.

However, if the trend reverses, ID could drop to $0.28, with the potential to decline further to $0.25 or even $0.23.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
1
Add to Favorites
Comments