BNB, the cryptocurrency created by Binance, exceeded for the first time the line of $ 900 marking a new historical maximum (ATH) of price. At the time of the publication of this article, The native currency of the BNB Smart Chain network is negotiated in $ 901as observed in the following graphic provided by CoinmarketCap:
BNB quote during the last 7 days. Source: Coinmarketcap. BNB’s good performance is greatly explainedbecause Binance announced an alliance with Franklin Templetonthe financial giant that manages 1.6 billion dollars, to develop investment products. As reported, companies will join to develop products that provide «agile liquidation, clear prices and access to competitive yields for a wide variety of investors.» In simpler terms, the objective is to connect traditional finances with the benefits provided by cryptocurrency networks, as speed and low commission costs. It should be remembered that Franklin Templeton entered the real world asset tokenization industry (RWA) in 2022 and has a background called Ochain Us Government Money Fund (Fobxx), which is the third largest in the Tokenized Treasury Bond market, as Cryptonotics reported. Another of the reasons behind the BNB rise is that today it was known that, in August, the producer price index (IPP) of the United States, which reflects the variations in the prices that producers perceive for goods and services, rose 2.6% year -on -year, below the 3.3% expected. For its part, the monthly IPP, projected at 0.3%, fell to -0.1%, evidencing a slowdown in the inflation of production costs. This suggests that inflation at the level of producers is lowering faster than expected, which Increases the chances that the Federal Reserve of that country (FED) make a cut in interest rates.
The market plans that the agency that drives Jerome Powell makes a reduction of 25 basic points, taking rates to the order of 4-4.25%. If the projections are fulfilled, it will be a bullish factor for cryptocurrencies because every time the interest rate decreases, the cost of loans decreases and there is more money available in the system. When this happens, the appetite resurfaces for the risk of investors, who choose to place their holdings in assets that generate high yieldseven assuming market volatility. In the event that macroeconomic conditions blow in favor, it would not be unreasonable to see BNB overcoming the $ 1,000 line for the first time in its history.
