Glad tidings for the Binance users as now is the time when they can earn up to 27.49% APY as BNB coin price gains over 20% of its market value. The price action of Binance has been constructive after the BNB decline of over 45% from 19th to 23rd February. The Binance Coin price is all set to scale up on the news of remarkable staking rewards. The highest Annual Percentage Yield (APY) of 27.49% is provided for the 15-day lock-up. The price action has been constructive with no further distribution on the volume profile before the flammable staking news. HODLing Binance Coin While BNB Users Earn More Now, since Binance Staking is adding support for BNB HODlers, a new yield activity allows users to earn 8.49% to 27.49%. The earning also depends on the lock-up period’s duration. The native coin BNB has multiple use cases, to name a few, it includes driving on-chain transactions, making in-store payments, paying transaction fees on Binance Exchange, etc. According to Binance: “The 30 days lock-up offers 8.49% APY and has a maximum limit of 5,000 BNB per user. The 60 days lock-up offers 12.49% APY and has a maximum limit of 500 BNB per user. The 90 days lock-up offers 16.49% APY and has a maximum limit of 100 BNB per user.” Users can choose to redeem earlier than the lock-up period but are at risk of losing the interest earned on the BNB tokens held for the entire period. The minimum staking limit applied on all offerings is 0.1BNB. Also, it is to be noted that the locked staking is based on a first-come, first-served basis. Fantastic Gains in the Binance Coin Price The coin price is showing the pennant formation. The robustness of the formation and the bullish profile is showing an upswing with a gain of 23% from the current levels. BNB is touching the all-time-high of $347 in a very short span of time. looking at the break below the rising trendline at $282, it is clear that the breakout has failed. Given that if selling accelerates, the succeeding support price will be $260 soon.
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