The biggest problem with DeFi isn’t what you think By Cointelegraph

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Here’s why Binance Chain (BNB) will face an important price test on September 30

BNB, the native token of Binance’s BNB Chain, entered a symmetrical triangle formation on Aug. 10, when it first faced the descending trendline at the $335 resistance. The following five weeks have been a struggle around $280, the exact intersection between the two conflicting ascending and descending patterns.

BNB token/USD at FTX. Source: TradingView

A decision on whether the symmetrical triangle will break to the upside or downside is expected by Sept. 30, when the trendlines cross. Currently holding a $45 billion total market capitalization, BNB Chain token has outperformed the broader altcoin market by 15% over the past three months.

BNB Chain Total Value Locked, BNB. Source: DefiLlama
Top BNB Chain DApps by active addresses in 30-days. Source: DappRadar