Binance Coin's [BNB] breakout above $300 means this for the market's bulls

Binance Coin BNB reacted extremely positively over the past two days of trading. The bullish euphoria over Bitcoin's gains translated across the crypto-market and BNB gained by 20.5% within four days.

Timeline of Bnb

Uniswap, the world's largest decentralized exchange protocol measured by trading volume, has officially debuted on BNB Chain. This decision was made following a controversial round of governance talks in February to decide on a bridge solution for the deployment, which later got successfully approved by the majority of governing members of the protocol.

The company behind the popular decentralized exchange platform Uniswap Labs announced its launch on the Binance Smart Chain (BNB) via its official Twitter handle. Developed by crypto exchange Binance, the BSC was launched as a cheaper and more scalable solution to Ethereum and other layer-1 blockchains.

Latest crypto updates regarding Binance Coin (BNB), the cryptocurrency that powers the BNB Chain ecosystem. According to an analysis of its latest performance, can it be said that BNB is immune to the crisis triggered by Silvergate?

Binance CEO Changpeng Zhao (CZ) has confirmed that the exchange has converted the remaining $1 billion in its industry recovery fund to native crypto assets — including Bitcoin, Ethereum, and BNB.

Crypto giant Binance says it's converting $1 billion of its dollar-pegged stablecoin BUSD into Bitcoin, Binance Coin and Ethereum. Binance CEO Changpeng Zhao says this represents the remainder of the company's industry recovery fund, which is designed to support struggling players in the industry after the collapse of FTX.

Bitcoin and the broader crypto market showed a strong recovery on Sunday afternoon (EST), although it was probably the most chaotic weekend in a long time. The crypto ecosystem lost another key banking partner.

After crypto exchange FTX collapsed in November, Binance established the “Industry Recovery Initiative”, which contains $1 billion in BUSD. Binance CEO Changpeng Zhao announced that the funds will now be converted to BTC, ETH, and BNB.

Binance CEO Changpeng “CZ” Zhao on Monday said Binance will convert the remaining funds in the Industry Recovery Initiative into Bitcoin (BTC), BNB, and Ethereum (ETH) due to the collapse of crypto-friendly banks and stablecoins depeg events. Amid the bank and stablecoin crisis, Binance CEO “CZ” took to Twitter to announce that Binance is converting The post Breaking: Binance Converting $1 Bln In Industry Recovery Initiative To BTC, ETH, BNB appeared first on CoinGape.

Binance Coin, also known as BNB, was first launched in 2017 as part of Binance's initial coin offering (ICO). The goal of the ICO was to raise funds for the development of the Binance platform and exchange system, as well as for branding, marketing, and education for new innovators in the industry.

The Binance Coin price analysis shows BNB coin is trading in a range-bound channel as buyers and sellers remain in balance. The Binance Coin has made several attempts to break above the $275 resistance level, but bears have been quick to push it back down.