A significant portion of the Binance Coin (BNB) crypto was recently destroyed from the circulating supply. This is because Binance, one of the largest cryptocurrency exchanges, recently burned A total of 1,944,453 BNB coins, worth $1.17 billion from circulation, which amounts to 1.3% of the asset. This is a part of its 27th quarterly BNB token burn system.
As a result, many traders took this as a sign to diversify, and have moved towards Chainlink (LINK) following its 100% year-to-date (YTD) climb, and KangaMoon (KANG), a presale-stage project which surged 290% recently.
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KangaMoon (KANG) to Pass Competitors As It Reaches Over 20K Users and $5.8M Raised
Alongside the bullish momentum experienced by both BNB and LINK, another crypto has managed to see far more substantial gains and could soon reach the top, and that’s KangaMoon (KANG).
This project differentiates itself by having a native token with real utility. By controlling a character, players are able to engage in tournaments and battles, or spectate and place bets on who the winner will be. This way, they can accumulate the KANG token.
Moreover, KANG is also used in the dedicated marketplace in which anyone can buy or sell NFTs. They also made a partnership with RaidSharks to boost overall engagement.
So far, the KANG token has been a hit among traders as over 20,000 users created an account, and the presale has generated $5,868,557.421. By the end of April, 2024, the presale is projected to raise over $6 million fueled by the enthusiasm surrounding its future.
As for the KANG price performance, the crypto moved up from $0.005 to $0.0196, marking a 290% price growth. As a result, analysts are now projecting a 100x price increase following its launch and major exchange listings, positioning it as one of the best cryptos to invest in.
Binance Coin (BNB) Burns $1.17B Worth of Coins – Can Its Value Move Higher Now?
Binance Coin (BNB) recently initiated the usual token-burn system which resulted in a decrease of its overall supply. This typically involves a process in which the supply is decreased to help maintain its value and increase scarcity, which could potentially result in a value increase.
As for the Binance Coin price performance, the crypto experienced a 78% year-to-date (YTD) climb. In addition, according to the Binance Coin crypto price chart, it moved up from $551 to $616.97 during the past week, and now needs to pass the $700 price range to reach new heights. According to the Binance Coin price prediction the crypto can end 2024 at $915.95, positioning it as one of the top crypto coins to jump towards.
Chainlink (LINK) Grows 100% YTD – Can It Move Above $20 Next?
Chainlink (LINK) also experienced a substantial level of growth as it rose 100% according to the year-to-date (YTD) chart. In addition, throughout the previous week, the Chainlink price experienced a major price growth momentum which resulted in a climb from $13 to $15.87, and at this rate, could reach new heights.
If the Chainlink crypto manages to surpass the $18 resistance next, it is poised to experience a far more significant level of growth in 2024 and beyond. According to the Chainlink price prediction, it can end 2024 at $21.86. These aspects position LINK as one of the top crypto coins to jump into.
Summary
Binance Coin’s token burning mechanism can result in higher value long-term as more and more cryptocurrencies are removed from the circulating supply. However, Chainlink has also displayed remarkable growth, and is a solid contender for diversification.
Despite their success, most of the attention is now going towards the KangaMoon presale as it is on its path towards climbing in value significantly, making it one of the best cryptos to invest in.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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