Trader Says This Exchange Altcoin Is a Promising Crypto Investment Despite Favorable Market Conditions
A well-known crypto analyst and trader is optimistic about the native asset of a layer-1 blockchain. Going by the name Loma, the analyst shares with his 303,500 followers on the social media platform X that BNB, the native asset of the BNB Chain, is showing strength from both technical and fundamental perspectives. Loma believes that BNB has the potential to surprise the market and become a major player. He points out that BNB looks promising in both USD and BTC pairings, and its negative funding is an advantage as it is typically hedged against spot holdings for fee reductions by larger whales. Additionally, Loma mentions that BNB is free from any persecution by the U.S. Securities and Exchange Commission in the short to mid-term. Confident in his analysis, Loma states, “I have a bag,” indicating that he has invested in BNB. However, Loma acknowledges that BNB may not offer the same exponential gains as some speculative digital assets due to its larger market cap. He emphasizes that different portfolio sizes require different asset selections and expectations. Another pseudonymous crypto analyst, Kaleo, shares Loma’s optimism and believes that BNB is preparing for a breakout. Looking at the trader’s daily chart, Kaleo suggests that BNB is forming a bullish triangle pattern and could potentially rally to the $1,000 level around May. Currently, BNB is trading at $541.51, experiencing a slight decline of nearly 4% in the last 24 hours. It will be interesting to see if BNB can live up to the expectations and deliver positive returns for investors.