BNB token blasts off as altcoins recover

The value of the binance coin (BNB) is now rising amid a general downtrend in altcoins. BNB was trading at $329 at press time, a gain of 8.7% from its previous closing price over the last 24 hours.

Timeline of Bnb

It's been a big week for BNB, the cryptocurrency that power's the Binance Smart Chain. After tumbling to two-month lows late last week in the mid-$260s amid generalized risk-off across asset classes amid concerns about US bank failures, BNB has seen a stunning rebound.

The decentralized exchange Uniswap has officially launched its services on the BNB Chain network.  BNB Chain Welcomes Uniswap The world's largest decentralized exchange has officially launched its services on the EVM-compatible smart contract blockchain, BNB Chain.

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.

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.