Its correlation to Bitcoin apart, Binance Coin has this working to its advantage
The announcement of the $1 billion growth fund was a clear catalyst for the rise of Binance Coin’s price, but after close to a 15% rise, BNB’s charts started reeking of stagnation.
Nonetheless, the third-largest altcoin by market cap had 13% weekly gains at the time of writing while BTC’s were 11.61% so relatively Binance Coin wasn’t in a bad shape altogether.
However, with prices on the shorter time frame consolidating and BNB noting a 1.70% fall on the daily there were interesting patterns that BNB seemed to be presenting.
Even though the crypto market at large shares a stark correlation with Bitcoin in terms of prices, for some coins this correlation is often more than for others. Binance Coin too, shares a high correlation with the king
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