NAIROBI (CoinChapter.com)—The cryptocurrency market continues to face sharp declines, driven by Bitcoin’s (BTC) 11.25% drop over the past three days. BTC has lost nearly $12,000 in value, now trading at $94,715, with $1.10 billion liquidated across the market. BNB, SUI, and TRX have not been immune to this downturn, reflecting the broader bearish sentiment sweeping the market.
BNB Gains New Accessibility Through Osprey Trust
BNB has taken a step toward greater U.S. accessibility through the launch of the Osprey BNB Chain Trust on the OTCQX® Best Market. The trust provides a pathway for traditional investors to gain exposure to BNB, bypassing the token’s absence on centralized exchanges in the United States.
BNB has taken a step forward in the U.S. market with the launch of the Osprey BNB Chain Trust on the OTCQX® Best Market. This offering allows traditional investors to gain exposure to BNB, bypassing its absence from centralized exchanges in the U.S.
Trading at $702, BNB has slightly retreated from its $780 all-time high. While it remains a major player in the decentralized finance (DeFi) sector, challenges like sandwich attacks, which impacted over 35% of its November blocks, highlight areas of concern for the network.
Binance co-founder Changpeng “CZ” Zhao expressed enthusiasm for the trust, stating, “The community-driven approach reflects the strong interest in BNB beyond centralized exchanges.”
SUI Eyes New Highs Amid Breakthroughs
SUI’s price movement in 2024 reflects a remarkable upward trend, with the token gaining over 500% to peak at $4.85. Currently trading at $4.12, the token is consolidating within a rising channel, with its 50-day Moving Average at $3.57 acting as robust support. This technical level has prevented further downside, signaling bullish sentiment among investors.
SUI/USD 1-day price chart. Source: TradingViewThe current RSI of 52 suggests the token has room for further upward movement without being overbought. Analysts have identified targets of $7.73 in early 2025, reflecting optimism about SUI’s ability to maintain its upward trajectory.
Crypto analyst Greny, suggests that SUI could outperform other altcoins, setting ambitious price targets of $25 by the end of 2025.
TRX Expands Influence Through Bitget Partnership
Tron’s TRX token recently made headlines as Bitget acquired $10 million worth of the asset, aiming to enhance blockchain access for users. The Tron network, which supports over 279 million user accounts and holds $7.57 billion in total value locked, continues to play a significant role in the DeFi sector.
SUI/USD 1-day price chart. Source: CoinMarkertCapTRX is currently priced at $0.2521, down 8.43% in the last 24 hours. Despite the recent decline, it has gained 24.02% over the past month. Tron’s low transaction fees, averaging 1.21 TRX, have driven growth in daily active addresses, now reaching 2.87 million.
Justin Sun, the founder of Tron, emphasized the collaboration’s impact, stating, “This partnership with Bitget aligns with our mission to empower developers and enhance global accessibility.”
BNB, SUI, and TRX are navigating shifting market dynamics, with ongoing developments and network upgrades playing a key role in their trajectories.
