BNB Coin Engagement Increases After Binance Card Introduction

The BNB Coin engagement has just increased after the Binance crypto exchange announced the new Binance Card. According to the technical indexes, the Binance coin price is now at a pivotal point as we are reading in the following BNB news.

Binance announced the introduction of the new product which will help users to pay for goods and services using crypto. The BNB coin engagement indicators exploded right after the announcement while the BNB price is trying to meet the bigger price point. The entire binance community engagement metrics went through the roof after the Binance Card announcement which left the investors wondering whether further price action will follow.

In a recent blog post, Binance revealed the launch of the Binance Card which will work just like any other traditional debit card by allowing users to pay for goods and services using Bitcoin and the Binance Coin. Since it is issued by Visa, the card will have access to more than 45 million merchants across the world. The crypto community welcomed the announcement of the Binance Coin social engagement after a series of spikes since the news broke.
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The company even reported that the Binance Coin saw the first major increase yesterday with more than 620,000 engagements but a few hours later this number increased:

 “BNB social engagement just spiked even higher to 1,162,828 engagements in the most recent hour in an increasingly active day.’’

The analysis took into account the depth of the community interaction on all social posts that include likes, comments, replies, and other metrics. By analyzing this data, the LunarCrush company said that they were able to determine how engaged the community is around the digital asset. Over the past day, Binance Coin managed to increase to the third spot on LunarCrush’s ALTrank as more than 70 percent of all social interactions have been quite bullish. The crypto community seems positive about the Binance Coin which can be considered as a technical pattern that can be seen forming on the 1-hour charts.

There’s also an ascending triangle forming on BNB’s hourly charts and a technical pattern develops because of the price action in the past two weeks. The horizontal line was created along with the highs of the price while a rising trendline developed as well. Breaking the $13.2 resistance level could start another breakout and an increase in the buying pressure could send the price up by more than 40 percent.