Binance Coin Up 11%: BNB Price Targets $500 as Crucial Resistance Breaks, What’s Behind This Surge?
The Binance Smart Chain has also witnessed a 7% increase in the number of addresses engaging with its dApps over the past 30 days.
The Binance Smart Chain has also witnessed a 7% increase in the number of addresses engaging with its dApps over the past 30 days.
During the recent rapid surge in Solana’s value, significant players appear to have been offloading their holdings.
Both currencies remain in the down zone on the daily chart, registering 2.6% and 9.34% declines respectively.
As part of the settlement with Binance, FinCEN will impose a five-year monitorship program on the company’s order books despite the fact that the exchange agreed to completely exit the US market.
As part of the plea deal with prosecutors, Binance has agreed to pay the United States Department of Justice (DoJ) $4.3 billion.
BNB price has gained about 6.4 percent in the past 24 hours to trade around $262 as the charges filed by the DoJ are believed to be finalized by the end of this month.
Binance burned about 2.13 million BNB coins during the last three months thus bringing the total coins removed from circulation to about 50.2 million units.
The growth of BNB and the underlying chain is largely connected with the ongoing regulatory scrutiny, especially in the United States
The Fed and the FDIC have assured depositors that they could withdraw money from Silicon Valley Bank thereby instilling some confidence among crypto investors.
Binance has already started the PoR system with BTC, and the company plans to release reserves for different coins like BNB, ETH and USDC in the future.