BNB Drops in Value Despite Innovation on The Beacon Chain, LINK and SPCT Surge in Value

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Investor sentiment and innovations are factors that determine the price of cryptocurrencies. However, Binance Coin’s (BNB) value dropped after significant improvements on the Beacon Chain. 

On the other hand, positive investor sentiment in Chainlink (LINK) and VC Spectra (SPCT) has seen their prices surge. Let’s see the three tokens’ movement below.

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The price of Binance Coin (BNB) is unexpectedly on a downward trend after unveiling upgrades on the Beacon Chain. 

Increasing regulatory challenges against Binance have caused investor pessimism on Binance Coin (BNB) in both the exchange and derivative markets.

In the last 24 hours, the price of Binance Coin (BNB) has declined 3.04%, from $246.53 to the current $239.02. 

Reports that regulators in Australia and Europe have enhanced scrutiny into the operations of Binance have pushed investors away, causing the price downturn on Binance Coin (BNB).

In the last month, Binance Coin (BNB) has been bearish and has lost 3.5% of its value. While the cryptocurrency market is experiencing a mild bearish sentiment, the long-term outlook for Binance Coin (BNB) remains bullish. 

Analyst predictions indicate that Binance Coin (BNB) could surge to close July at $276.80.

However, if the bearish sentiment against BNB persists, analysts project it will end July at $216. 

While innovations on Beacon Chain had little effect on Binance Coin (BNB), Chainlink (LINK) gained spectacularly. Innovations by Chainlink (LINK) have led to a surge in the price of its native token, Chainlink (LINK). 

On July 17, Chainlink (LINK) launched its CCIP advancements and gained several high-profile