- The reactivation and technical indicators of a sleeping whale have indicated a potentially bullish momentum for BNB
- Rising social dominance and the upcoming Pascal upgrade supported a long-term bullish prospect
A sleeping whale has been reactivated after five years and deposits 2,325 BNB, worth $ 1.4 million, in Binance. This unexpected movement has increased speculation about possible shifts on the market.
In the past, this whale has made remarkable transactions, including the deposit of 40,099 BNB ($ 802k) five years ago and the recording of 42,425 BNB ($ 648K) for a price of $ 15.28 seven years ago.
The reactivation has yielded a profit of $ 1.56 million, so many are asked – this gives a return of trust in Binance currency [BNB]?
Price promotion – analysis – important levels to pay attention to a potential outbreak
At the time of writing, BNB acted at $ 596.5, after a modest increase of 0.27% in the last 24 hours. A double soil formation emerged on the price diagrams – a sign of potentially bullish momentum.
The last prize bounced out of the support zone near $ 580 reinforced this image. If BNB can break above the critical level of resistance at $ 625, it may be possible to make up to $ 678, which confirms the positive prospects.
If the price does not break through this resistance, this can notice consolidation or withdraw to lower support levels. That is why it is crucial to keep an eye on these levels to assess the next step of the Altcoin.
Source: TradingView
BNB Social Volume and Dominance – Growing attention from investors
Although the social volume has been relatively low, with only 41 entries registered on Perstance, social dominance rose to 0.55%. This indicated that the Altcoin gradually pays attention on social platforms, which indicates the growing interest among investors.
Moreover, this walk in social dominance can indicate a shift in market sentiment to BNB. Although it remains smaller compared to larger cryptocurrencies, the rise in the social buzz is a positive sign and it can further contribute to the price action.
Source: Santiment
Development activity – Pascal Upgrade to Mainstet
Furthermore, influencing the Bullish Outlook from BNB is the upcoming Pascal Upgrade, set to go live on March 20, 2025. This upgrade introduces the EIP-7702 Smart Contract Wallets, which provides various benefits, such as gasless transactions, batch goods inspections and swaps in one click and simpler onboarding for new web3 users.
This technical progress is expected to improve the usefulness of BNB and increase the long -term value proposition. This may contribute to the upward price movement of the Altcoin.
Will the reactivation of the whale cause a bullish increase?
It’s too early to really say. However, the signs are clear.
If BNB successfully breaks above the most important resistance levels, in combination with the expected Pascal -upgrade, it could certainly activate a meeting. That is why the movement of the whale is probably a catalyst for a bullish increase in BNB in the near future.