Binance Coin sustains momentum as controversy rocks exchange's recent listing

Binance, the exchange backing Binance Coin BNB is notorious for listing a lot of emerging cryptocurrencies, and its 18 January addition of Rocket Pool RPL aligned with the known behavior. However, the world's largest exchange listing of the decentralized Ethereum ETH staking pool token was not without fuss.

Timeline of Bnb

Binance Coin price analysis suggests downwards movement to $280 The closest support level lies at $290 BNB faces resistance at the $310 mark The Binance Coin price analysis shows that the BNB price action has fallen down to the $290.00 support where the bulls are trying to hold the bearish pressure at bay.

Key Points: Binance has just finished burning nearly 600 million USD of BNB – the plan to burn BNB takes place in accordance with Binance's commitment. Binance the 22nd BNB burn has been completed by BNB Chain, and this is the first quarterly BNB burn of 2023.

In the wake of FTX's collapse, many eyes focused on the now undisputed largest cryptocurrency exchange in the world, Binance. Due to an opaque proof of reserves, the withdrawal of accounting firm Mazars, and a bank run on the exchange, the Binance Coin (BNB) suffered a temporary loss of trust and excessive price losses.

Binance burned 26 million of its BNB token — worth over $600 million — during the early hours of January 17, according to a company statement. The post Binance burns $600M BNB in 22nd burn event appeared first on CryptoSlate.

The world's largest crypto exchange Binance burned 2,064,494.32 BNB tokens in the 22nd quarterly token burn mechanism, the exchange said on Tuesday. Binance aims to reduce its circulating supply to 100,000,000 BNB through its BNB Auto-Burn procedure.

BNB, the native token of the Binance blockchain performed well in two metrics- first in terms of daily active users and second in the count of the total number of transactions in the past week.

Binance coin [BNB] posted an impressive performance after sustaining massive FUD at the end of last year. It surged from $240 to over $310 in the past two weeks, offering investors a 30% gain.

Binance Coin has recovered from the sharp plunge it saw in mid-December. The $250 area was expected to pose stiff resistance to the price, but the asset was able to flip $256 to support and climb higher.

Like most other cryptos, Binance Coin [BNB] entered the first week of this year with joy after increasing its value. CoinMarketCap's data revealed that BNB's price went up by 11% in the last seven days, and at press time, it was trading at $275.62 with a market capitalization of more than $44 billion.

Binance Coin price analysis suggests sideways movement below $280 The closest support level lies at $275 BNB faces resistance at the $280 mark The Binance Coin price analysis shows that the BNB price action has climbed past the $275.00 mark as the bulls charge through.