As it gets ready for a new upgrade, the BNB Token makes a breakthrough
Key Points:
- With the intention of upgrading the BNB Beacon Chain in the near future, the BNB token gains an advantage.
- The next target for the price of BNB will be $400 if it can break through a critical area of resistance.
BNB token is having a breakout in this today as it rallies over 5% on favorable news.
On April 17, BNB Chain announced that the Beacon Chain would be upgraded with a Barral hard fork at block height 310,182,000. Binance will execute wallet upkeep for BNB Reference point Chain (BEP2) on Tuesday, April 18, at 07:00 UTC, before the huge update. The exchange will stop accepting BNB deposits and withdrawals for an hour.
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The cross-chain bridge between BNB Smart Chain and BNB Beacon Chain has received a number of security enhancements as a result of the Barral hard fork update. It has auto-stop transfers upon forged proof detection, an update to IAVL proof verification, a huge funds cross-chain transfer time lock, and the ability of the validator to stop cross-chain channels.
The improvement is named for French surgeon and anatomist Jean-Augustin Barral. To keep handling blocks on the blockchain, the BNB Guide Chain update needs 2/3 validators to move up to the most current rendition. Consequently, the Binance team has requested that node operators upgrade by April 21 to the v0.10.10 release.
In a single transaction, crypto whales exchanged 3.48 trillion Shiba Inu Coins, according to WhaleAlert statistics. Two unidentified wallets received $40.2 million worth of SHIB tokens. Importantly, this transaction took place before Binance decided to remove SHIB from the innovation zone.
BNB cost has broken over the basic opposition level of $340 on the everyday time span, setting a 6-month high. It is highly likely that $400 will be its next target if the bullish momentum continues.
As Coincu detailed, Binance utilized the 23rd quarterly BNB token consume component to consume 2,020,132.25 BNB tokens. The most recent price increase is also due to the most recent fire.
