Binance Coin Revives Its Bullish Strength Above $290; Will Bulls Defend This Area?

BNB's price bounces off from $250 as the price rallies to a high of $300 as bulls take charge of the price.  BNB's price remains strong as bulls reclaim $300 despite uncertainty in the market traders and investors remain cautious.

Timeline of Bnb

Crypto whales are abruptly moving hundreds of millions of dollars worth of XRP, Binance Coin (BNB), Polygon (MATIC), and Curve (CRV). New data from what-surveying platform Whale Alert shows that deep-pocketed crypto investors have been shifting their altcoins to and from unknown crypto wallets and crypto exchange platforms.

Over the past seven days, mid-cap altcoins have outperformed large-cap and small-cap tokens by some margin compared to Bitcoin. The post Mid-cap tokens outperform Bitcoin over past 7 days as BNB hits 6% market dominance appeared first on CryptoSlate.

Binance's insurance fund for users holds a suspiciously high amount of the exchange's own token, according to one analyst. The post Binance SAFU Fund Suspiciously Risky With 44% of Holdings in BNB appeared first on BeInCrypto.

Binance Coin price is up slightly over 10% this week, following a mid-week crypto relief rally. The native exchange token is the fourth-largest cryptocurrency, boasting $48 billion in market capitalization.

Popular on-chain analyst Willy Woo raised concerns over Binance's Secure Asset Fund for Users (SAFU) Insurance Fund. He believes it's not safe to put “incidence-correlated BNB” in the SAFU fund.

Binance Coin price analysis shows a rare bearish return today, as price surged by more than 12 percent to move close to the $300 resistance point. BNB has cleared levels above $295 for the first time since the massive 34 percent decline that took place on November 8.

Quick Take The BNB Chain ecosystem has gained outsized attention in recent weeks after what started as a public dispute between the founders of Binance and FTX eventually spiraled into FTX's collapse just a few days later Growing concerns about stablecoin volatility in the wake of the FTX crisis have become visible on BNB Chain, which hosts a significant amount of stablecoin liquidity and trading activity for the broader DeFi ecosystem In spite of a general drawdown in TVL among L1s, the BNB Chain ecosystem has remained notably resilient during this recent period of heightened market volatility

BNB has managed to outperform some of the top cryptocurrencies in terms of its ability to hold value. The robust utility of the BSC contributed greatly to sustaining BNB's demand.

 BNB's price continues to hold strong as the bull refuses to give in to the FTX fiasco as price trends are above $260.   BNB's price continues to look weak as bearish market sentiments increase, with things looking uncertain for most traders and investors.

Binance Coin price analysis suggests a downward movement to $260 The closest support level lies at $270 BNB faces resistance at the $275 mark The Binance Coin price analysis shows that the BNB price action has fallen to the $270.00 mark after the buyers failed to break above the $290.00 mark.