Can Binance Coin [BNB] Move Beyond $600 This Week?

The bloodbath that struck the cryptocurrency market pushed Binance Coin [BNB] down below $600. The asset made quite some noise earlier this month after it hit a new all-time high. Despite Binance’s troubles with governments across the globe, BNB surged to a high of $720.67. Currently, the altcoin is trading 17% below this high at $596.58. While the market has hopes that BNB will break past the $600 mark, its progression towards the rest of the month remains unknown.

According to Changelly, Binance Coin is slated to end the month on a bullish note. The asset will record an uptick going forward and surge to a high of $634.82, a 9.73% increase from its current level. BNB holders will have to consider other factors, like market sentiment and developments in the network, before expecting a price increase.

Also Read: Can Binance Coin [BNB] Achieve A New All-Time High In June 2024?

Binance Rolls Out HODLer Airdrops

It looks like BNB holders will benefit from the exchange in one way or another. Binance will be releasing HODLer Airdrops to those who are part of its Simple Earn Yield program. This, however, is an exclusive initiative for BNB holders. Users who own tokens from projects with a high token supply and want to launch on Binance soon enough.

Binance will calculate rewards based on previous snapshots as well as hourly average balances. A hard BNB holding limit per user, completion of KYC, residency in a qualifying jurisdiction, and rewards within 24 hours after airdrop announcements are requirements for eligible users. In addition, sub-accounts are also eligible to take part in this initiative. The exchange further wrote,

“On top of the HODLer Airdrop, by locking your BNB with Simple Earn, you will also earn interest on your assets while getting additional Megadrop and Launchpool airdrops – not bad!”

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