Trading Crypto Guide ™
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#BNB Analysis :
#BNB floating over the major support zone of $199.70 - $210.00 and price also creating the liquidity lower too $203.40. Also, price is been nearly to the resistance line and creating the bear flag, which can push the price back down till support zone. Not setups until it break either side of the mentioned areas.
#BNB floating over the major support zone of $199.70 - $210.00 and price also creating the liquidity lower too $203.40. Also, price is been nearly to the resistance line and creating the bear flag, which can push the price back down till support zone. Not setups until it break either side of the mentioned areas.
#BNB Analysis :
#BNB is been cleared out all the liquidity from the major support zone and moved up $199 - $205 and kinda rejecting from the Strong Resistance Zone of $226 - $230 . Well if we see in the broader view, its a long range and have to break through it. The Strcutural support is at $217, where a bounce is expected.
#BNB is been cleared out all the liquidity from the major support zone and moved up $199 - $205 and kinda rejecting from the Strong Resistance Zone of $226 - $230 . Well if we see in the broader view, its a long range and have to break through it. The Strcutural support is at $217, where a bounce is expected.
Trading Crypto Guide ™
#BNB Analysis : #BNB is been cleared out all the liquidity from the major support zone and moved up $199 - $205 and kinda rejecting from the Strong Resistance Zone of $226 - $230 . Well if we see in the broader view, its a long range and have to break through…
#BNB still unable to break above the strong resistance zone and giving the multiple rejection from the area. Well, We can expect some volume by tomorrow Market Open. If price breaks below the support $221 support area then we can go with short-selling.
What Is a Mainnet Swap?
Mainnet swap is the migration of a cryptocurrency project from a third-party blockchain network, such as Ethereum, to its native blockchain network.
A third-party blockchain network is used when a cryptocurrency project is in its testnet phase. But once it moves from the testnet phase to the mainnet phase, users receive native cryptocurrency in exchange for their third-party tokens. That’s why it is also called token migration or token swap. At its core, the mainnet swap is the exchange of third-party tokens with the platform’s native cryptocurrency.
Better Understand Mainnet Swap
Since 2017, ELF has been held as an Ethereum based #ERC-20 token. After spending considerable time testing the security and reliability of its platform, they announced the mainnet swap on September 9, 2021. Typically, the mainnet swap follows a 1:1 ratio. Once it is completed on the entire blockchain, the remaining tokens are burned.
Another example of a mainnet swap is #BNB (Binance Coin). When Binance Chain was in its testnet phase, it was using the Ethereum based ERC-20 BNB token. However, after the mainnet launch, #ERC-20 BNB token holders were encouraged to migrate to the BEP2 BNB coin (the native coin of Binance). This swap occurred at a 1:1 ratio, meaning 1 #BEP2 #0000000d BNB coin equaled 1 ERC-20 #BNB.
When Does Mainnet Swap Occur?
Typically, a mainnet swap occurs when a cryptocurrency project moves from one blockchain to another or migrates its tokens from a third-party blockchain to its native chain. However, the mainnet swap isn’t associated exclusively with new blockchains. A project may announce it if it decides to move from one protocol to another. One example would be the migration of tokens from Bitcoin-based protocol to Ethereum network.
When it comes to the specifics of a mainnet swap’s execution, it varies from project to project. The majority of projects give a deadline to users for the migration of tokens. Failing to do so means you will end up losing access to your tokens as they’re usually burned after the given deadline.
How Is the Swap Done?
Depending on the main features of execution, users can either manually swap their tokens or leave them to the platform. For example, Binance allowed users to leave their previously issued tokens on their accounts, so the platform could automatically swap their tokens with native tokens.
Mainnet swap is the migration of a cryptocurrency project from a third-party blockchain network, such as Ethereum, to its native blockchain network.
A third-party blockchain network is used when a cryptocurrency project is in its testnet phase. But once it moves from the testnet phase to the mainnet phase, users receive native cryptocurrency in exchange for their third-party tokens. That’s why it is also called token migration or token swap. At its core, the mainnet swap is the exchange of third-party tokens with the platform’s native cryptocurrency.
Better Understand Mainnet Swap
Since 2017, ELF has been held as an Ethereum based #ERC-20 token. After spending considerable time testing the security and reliability of its platform, they announced the mainnet swap on September 9, 2021. Typically, the mainnet swap follows a 1:1 ratio. Once it is completed on the entire blockchain, the remaining tokens are burned.
Another example of a mainnet swap is #BNB (Binance Coin). When Binance Chain was in its testnet phase, it was using the Ethereum based ERC-20 BNB token. However, after the mainnet launch, #ERC-20 BNB token holders were encouraged to migrate to the BEP2 BNB coin (the native coin of Binance). This swap occurred at a 1:1 ratio, meaning 1 #BEP2 #0000000d BNB coin equaled 1 ERC-20 #BNB.
When Does Mainnet Swap Occur?
Typically, a mainnet swap occurs when a cryptocurrency project moves from one blockchain to another or migrates its tokens from a third-party blockchain to its native chain. However, the mainnet swap isn’t associated exclusively with new blockchains. A project may announce it if it decides to move from one protocol to another. One example would be the migration of tokens from Bitcoin-based protocol to Ethereum network.
When it comes to the specifics of a mainnet swap’s execution, it varies from project to project. The majority of projects give a deadline to users for the migration of tokens. Failing to do so means you will end up losing access to your tokens as they’re usually burned after the given deadline.
How Is the Swap Done?
Depending on the main features of execution, users can either manually swap their tokens or leave them to the platform. For example, Binance allowed users to leave their previously issued tokens on their accounts, so the platform could automatically swap their tokens with native tokens.
Trading Crypto Guide ™
#BNB Analysis : #BNB strongly shooting with the market momentum and Nearly reached the major resistance zone of $504 - $514. Price expected to reach the level and pullback too. Once price retraced, buy can come from the support or newly formed support area.
#BNB just normally flipped above the Resistance zone with a Daily TF closure. In H4 TF price Rejecting the zone as support and open the potential gates for moving up. The next major resistance zone to look at will be $662 - $676 but there're minor one at $570. Take the zone and accordingly with proper risk.
Trading Crypto Guide ™
#BNB just normally flipped above the Resistance zone with a Daily TF closure. In H4 TF price Rejecting the zone as support and open the potential gates for moving up. The next major resistance zone to look at will be $662 - $676 but there're minor one at $570.…
#BNB perfectly moving up from the support zone, irrespective of the market movement and moved around 6% in favor. Keep the stops moving with the moved. Remember $562 - $571, is the minor resistance area.
Trading Crypto Guide ™
#BNB perfectly moving up from the support zone, irrespective of the market movement and moved around 6% in favor. Keep the stops moving with the moved. Remember $562 - $571, is the minor resistance area.
#BNB falling off due to certain market condition/ corrections and before that it moved around 23.7% in profits and i hope you secured with the moving market conditions. Currently, price is correcting itself and hopefully we can expect it to get it around support zone again.