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Highlights
- VanEck Launches VBILL on BNB Chain, offers exposure to U.S. Treasury bills and operates across BNB, Ethereum, Solana, and Avalanche.
- The $100K minimum investment targets high-net-worth investors, potentially increasing capital flow into the Binance ecosystem.
- As BNB price rebounds 200% from 2023 lows and trades near $648, a rising channel pattern signals possible breakout toward $794.
VanEck’s new tokenized Treasury fund “VBILL” is set to launch on Binance (BNB), providing institutional tailwinds. Can this drive BNB’s price to new all-time highs as it rebounds with a rising channel?
VanEck Launches VBILL Fund on Binance Chain
VanEck, an asset management company, announced a tokenized real-world asset (RWA) fund, VBILL, to offer exposure to short-term U.S. Treasury bills. This milestone development is in partnership with Securitize, and the VBILL will operate on Binance Smart Chain, Ethereum, Solana, and Avalanche blockchains.
The launch marks a monumental shift in TradFi towards blockchain technology with the tokenized U.S. Treasuries. Notably, the VBILL accounts for $6.9 billion of the total RWA market. Driving the blockchain narrative, Securitize previously tokenized over $3.9 billion in assets from BlackRock.
The $100,000 minimum investment barrier for the VBILL fund exposure targets High-Net-Worth Individuals (HNI) and institutions. Such individuals could fuel the capital flows to all four blockchains as a real-world use case of BNB Chain boosts its credibility in the blockchain-based capital markets.
Institutional Tailwinds to Ignite New All-Time High
BNB price trades at $648 after a 10% jump last week, forming a bullish candle. Following the 70% crash from $670 to $202 between November 2021 and October 2023, Binance coin remained an underperformer. Since the 2023 low, the altcoin has surged 270% and formed a new all-time high at $794.
The bullish trend forms a rising channel in the weekly and the previously mentioned bullish candle, suggesting a bounce back. The bull run in BNB’s price trend targets the current all-time high at $793, an upside potential of 21%.
Additionally, the weekly Relative Strength Index (RSI) line rebounds from the halfway point after a steep pullback. The MACD indicator hints at the start of a new positive histogram cycle. Hence, technical indicators support the uptrend continuation thesis within the rising channel, aligning with the Binance coin price prediction of a new all-time high in 2025.
Conversely, a breakdown under the local support trendline will nullify the bullish pattern, risking the $495 retest.
In conclusion, VanEck’s VBILL fund launch on Binance Chain is a pivotal development in institutional interest with a $6.9B tokenized U.S. Treasuries. Fueling investor confidence, a reversal in Binance Coin’s price could support a potential rally toward the $800 level.
Frequently Asked Questions (FAQs)
1. What is the VBILL fund by VanEck?
2. Why is VBILL launching on BNB Chain significant?
3. How does this affect BNB price in the short term?
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