The Rise of Binance (BNB) and Fantom (FTM) in the Crypto Space

In the fast-paced world of cryptocurrency, innovative technology and cutting-edge blockchain projects often drive the success of new companies. Binance (BNB) and Fantom (FTM), both layer 1 projects that gained popularity during the 2021 bull market, are currently experiencing significant growth and success.

Binance: A Comeback Story

In recent times, Binance faced challenges such as former CEO Chengpeng Zhao (CZ) dealing with legal issues in the US and settling a record-breaking $4.3 billion fine with the US Treasury’s FinCEN. Many believed that these events could mark the downfall of the once-dominant cryptocurrency exchange.

Despite these obstacles, Binance‘s network token, $BNB, managed to avoid disaster. Throughout 2022 and 2023, the price consistently bounced back from the $210 support level. In October 2023, $BNB even surged to nearly $643, approaching a new all-time high before consolidating around $570. If the support holds, the price could potentially reach $1,000 based on the 1.618 Fibonacci level.

Fantom’s Continued Growth

Fantom (FTM) is currently on an upward trajectory, with a more than 8% increase in value. The resistance at $1.12 is likely to turn into support, but confirmation will only occur after Sunday’s trading session.

According to Fibonacci levels, $FTM’s next targets include $1.44 at the 0.384 level, $2.22 at the 0.618 level, and $2.77 at the 0.786 level. With a previous all-time high of $3.47, there is still significant potential for growth in the price of $FTM.

It is essential to note that the information provided in this article is for informational purposes only and should not be considered as financial, investment, or legal advice.

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Sources: Coingecko/Trading View

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