BNB holder caution warranted as the SEC-Binance standoff intensifies

BNB still managed to achieve its highest weekly volume in the last 24 hours. This may explain why the price continued to rally although the lack of enthusiasm suggests that BNB bulls are pulling their punches.

Timeline of Bnb

BNB Chain, the Binance-backed decentralized blockchain network, has announced the launch of Opbnb, its expansion layer built using the Optimism OP stack. The new network allows users to enjoy low-fee transactions in a high-throughput, high-speed transactional layer optimized for interactive applications such as games, with the BNB Chain chain serving as a settlement layer.

In light of the recent catastrophic earthquake in Morocco, Binance Charity has pledged to distribute up to $3 million in (CRYPTO: BNB) tokens to Binance users residing in the affected regions. Over the past few days, Morocco witnessed its most devastating earthquake in over 60 years, leading to the tragic loss of over 2,800 lives and leaving numerous villages in the High Atlas Mountains in ruins.

In a compassionate response to the recent earthquake disaster in Morocco, Binance Charity, the charitable arm of cryptocurrency exchange Binance, has announced a substantial aid effort aimed at providing relief to the affected populace.

It took one year for Binance's crypto-to-fiat processing unit Bifinity, a Lithuanian-headquartered company, to jump into the top five country taxpayers. Bifinity UAB paid over $45 million in taxes excluding VAT in 2022.

In the last two months, the Binance Coin price has displayed a correction trend. The coin price trajectory has evolved into a falling wedge pattern, characterized by its declining peaks and troughs confined within two converging trend lines.

BNB Chain has announced the winners of its Ecosystem Catalyst Awards, recognizing key blockchain contributors in four categories: PancakeSwap, MAV Protocol, Izumi Finance, Helio Money, and Alpaca Finance, with the aim of driving innovation and collaboration.

A widely followed crypto trader is warning that Binance Coin (BNB) is on the verge of collapsing against Bitcoin (BTC). Bluntz tells his 224,500 followers on the social media platform X that the BNB/BTC trading pair has formed a bearish swing failure pattern (SFP).

As Binance Coin (BNB) grapples with a turbulent market, its recent struggles have highlighted a decline in network activity, fueling a lack of buying pressure. The latest roadblock at the formidable $225 resistance level has compounded the altcoin's long-term bearish bias, casting a shadow over its prospects in the crypto landscape.

BNB surged this afternoon, as markets reacted to the news a court in the United States was siding with Grayscale in its case with the Securities and Exchange Commission (SEC). The court said the SEC was wrong to deny Grayscale permission to migrate its bitcoin product into an ETF.

On August 29, it was revealed that Backed will be expanding its native token issuance to include the BNB Smart Chain (BSC) in order to reach more consumers and give them additional alternatives for the blockchain that best meets their requirements.