REX Shares Files for BNB Staking ETF Amid Bullish Speculation
Investors are speculating positively on BNB following REX Shares' announcement of a BNB Staking ETF on August 26. Key details include:
- REX Shares filed for the ETF on the Cboe BZX Exchange.
- BNB reached an all-time high of $900 on August 23 but dropped to $858.
- The total value locked in BSC’s DeFi is over $7.5 billion, significantly below its ATH of nearly $22 billion.
- PancakeSwap's daily fees declined from $5.15 million to around $500,000 recently, indicating reduced platform usage.
- Traders are monitoring the $800 to $820 support zone; losing this level may trigger significant selloff.
- Technical indicators show BNB is below its 9-day moving average of $853 but above the 50-day average near $782.
Analysts note that despite ETF developments, BNB faces weak fundamentals and critical market conditions.