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HOME > Crypto and NFT NEWS > Binance Coin: BNB Prices Struggle a Bear Market in the First Quarter of 2022
Crypto and NFT NEWS

Binance Coin: BNB Prices Struggle a Bear Market in the First Quarter of 2022

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news room April 22, 2022 230 Views 7 Min Read
Updated 2022/04/25 at 12:49 PM
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Binance, coin, BnB, bnb predictions, binanace smart chain, binance news, binance update, binance prediction chart, binance graph
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Binance Coin, one of the leading U.S cryptocurrencies in the global market suffers from a bearish market in the first quarter of 2022. The reports from crypto analysts reveal the crypto coin’s trading volume dropped to below $64 Billion; compared to its previous earnings last year.

Contents
Binance Coin First-Quarter Report 20221: BNB Top 3 Markets in 20222: Binance Coin: 2021 vs. 20223: Overall First-Quarter Trading VolumeFinal Words

With the start of 2022, the crypto market faced a lot of crises. Post-pandemic recovery, rising inflation rates, Ukraine-Russia War, European Union crypto policy, all these events keep pummeling the crypto rates to the ground.

Cryptocurrencies like Bitcoin, Binance coin, Ethereum, etc., have recorded a downward trend in the crypto market, worrying many investors about the future of cryptocurrency.

Crypto analysts do research on each cryptocurrency’s performance based on the trading volume, which means “the total number of shares of a security traded during a given period of time” (Investopedia).

Like every other top crypto coin, Binance Coin also took a huge hit from the global crisis. According to the Be[In]Crypto Research, BNB recorded a trading volume of $250 billion in the first quarter of 2021.

Compared to that, the first quarter of 2022 shows an extreme decline in trading volume to $185 billion.

Binance coin was forced to face the bearish market, like every other cryptocurrency, and it affected the coin’s status deeply.

A bearish market is when the market prices continue to decline for a long period. There are many reasons for the bearish market in the first quarter of 2022, and the crypto community and investors have been complaining about the declining market for months now.

Binance Coin First-Quarter Report 2022

Binance coin’s first-quarter report for 2022 includes many details and possible predictions for the upcoming months.

1: BNB Top 3 Markets in 2022

Based on the report, the top 3 markets were the pairings of BNB with USDT (USD Tether) and BUSD (Binance USD).

USDT and BUSD are stablecoins and since BNB was mostly involved with these stablecoins, it is evident that the Binance Coin struggled in a bear market. Stablecoins usually have low volatility. If a crypto coin is traded against a stablecoin, it signifies a bear market.

2: Binance Coin: 2021 vs. 2022

The comparison of trading volume between 2021 and 2022 will give a better idea of how much Binance coin suffered or earned. Since it is the first quarter of the year 2022, only the first three months will be compared between the years.

  • January: The prices were quite stable during the month.
    • In 2021, BNB had a trading volume of around $18 billion and one day high of $890 million.
    • In 2022, the trading volume was about $84 billion, and a $4.6 billion single-day high.
  • February: This month marks the beginning of the Ukraine-Russia war. The crypto market rates dropped to aid the Ukrainians through cryptocurrency.
    • In 2022, the Binance coin recorded a trading volume of around $47 billion and a single-day high of $2.9 billion.
    • Compared to that, BNB recorded a trading volume of about $122 billion and a $17 billion single-day high in 2021. This is a huge gap.
  • March: March was rather a fluctuating month for the crypto market amidst the war and rising inflation rates due to increased gas prices.
    • BNB remained at a decline until the last two weeks of March 2022, the coin saw an increase in the market with a trading volume of $54 billion and a $2.8 billion single-day high.
    • However, it is still lower than last year when BNB recorded a single-day high of about $8 billion with a trading volume of around $109 billion.
Binance, coin, BnB, bnb predictions, binanace smart chain, binance news, binance update, binance prediction chart, binance graph

3: Overall First-Quarter Trading Volume

Binance coin for the first quarter of 2022 is calculated from the opening prices on 1 January 2022 to the end of March, i.e. 31st March 2022.

The trading price opened at $511.91. The highest trading price for the first quarter was on January 2nd at $533.37.

The closing trading price at the end of March was $428.92, this also marks the end of the first-quarter trading period. The last two weeks of March experienced a surge in prices, so the closing price recorded a good figure.

However, there was a 16% decrease between opening and closing trading prices in 2022.

Related News:

  1. Binance Labs leads seed round for Ultiverse in BNB Chain ecosystem
  2. Binance US Is Setting Up Its Office In The Solana, Metaverse
  3. Binance Becomes Official Sponsor Of The African Cup Of Nations

Final Words

Binance coin’s first quarter of 2022 shows a bear market but by the end of March, the prices began to rise steadily. The investors and traders were quite stressed about the lowering trading volume of BNB in the market. The first quarter shows that the rising inflation rates continue to affect the BNB’s prices and a prolonged bear market.

The recent reports for BNB in April show that the trading price has increased to a high of $458.17 on April 5th; compared to March prices. This can be a hope for investors to see a thriving market at least in the month of April. Although there isn’t much to be said about the next quarter’s trading volume, only the future events will unveil the fluctuations of the Binance coin prices in the market.

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