- Binance now supports Chromia’s mainnet, allowing seamless CHR token deposits and withdrawals.
- Native CHR integration on Binance streamlines transactions and reduces complexity.
- Binance Coin shows strong bullish potential, with technical indicators signaling growth.
Binance has officially supported the Chromia (CHR) mainnet as of 7:00 a.m. UTC on September 4. This milestone is significant because Chromia no longer has to depend on the ERC-20 infrastructure but instead operates its own native chain. The integration enables liquidity and accessibility by depositing and withdrawing CHR tokens to the Chromia network without any issues.
This shift to the Chromia mainnet eliminates the need for external bridge solutions. This makes it easier to transact, and CHR tokens can now be easily moved into and out of Binance by individuals. It has simplified the process of working with tokens and has improved the whole Chromia ecosystem by being more efficient.
Chromia’s main blockchain is designed for scalable dApps, and its partnership with Binance highlights the platform’s growth and rising influence in the blockchain space. This integration is expected to draw more developers, particularly in gaming and enterprise solutions, by lowering technical barriers for launching applications. As a result, more dApps could be built on the Chromia network, driving wider adoption of the platform.
BNB Breakout Set to Reach New Highs Amid Strong Market Demand
Analyst Erica Hazel has spotted a “cup-and-handle” pattern in the BNB chart, indicating a potential for strong price growth. The breakout from this pattern is already in progress, with BNB showing increased market strength.
BNB price is now approaching a key resistance level around $891.2. A successful breakout above this level might continue upwards towards new highs. According to technical analysis, if BNB breaks this resistance, it could move to $1,300 in this cycle, which is a significant increase in value.
A strong surge in market demand is backing BNB’s house price, as traders holding long positions stand at 64%. This shows that there’s a high level of trust in BNB for its future growth. The price is currently trading well above key support levels, which also supports the overall bullish trend and hints at potential continuation.
Related: CZ Eyes AI, DeFi, and RWAs Powering BNB Chain’s Next Growth Wave
The essential support levels of BNB are $793, $761, and $680. At these levels, traders could have a good risk-to-reward deal to trade. Any bounce of these levels may indicate that BNB has not reached the end of the bullish trend.
The Stochastic RSI indicates that BNB is overbought, suggesting a potential small pullback/consolidation. Yet, such a short-term break would not be sufficient to break the general tendency in favor of the bull. BNB has a positive long-term perspective.
The implementation of the Chromia mainnet by Binance enhances the scalability of the platform and its availability to users. It also assists Chromia in being converted into a full-fledged decentralized network. In the meantime, Binance Coin (BNB) retains a good bullish tendency. BNB is moving in the right direction according to technical indicators. These events demonstrate the increasing power of both Binance and Chromia.
