Latest news with #BNB
Yahoo
2 hours ago
- Business
- Yahoo
BNB Down 4% as Global Trade Tensions Overshadow SEC Victory
Binance Coin (BNB) dropped nearly 4% over the past 24 hours, rattled by renewed global trade tensions and broad market volatility that overshadowed positive regulatory news. The token fell from $672.53 to a low of $646.27, with selling accelerating during high-volume trading hours as traders reacted to macroeconomic Background President Trump's announcement of new tariffs on Canada and Mexico reignited fears of a trade war, sending shockwaves across financial markets. The crypto market wasn't immune, with BNB underperforming despite the SEC's voluntary dismissal of its lawsuit against Binance and founder Changpeng Zhao. That case, which had alleged Binance facilitated trading of unregistered securities, had hung over the exchange for nearly two years. BNB Chain saw an active week with BSC recording 1.93 million daily active users and opBNB surpassing 2 million. Total weekly trading volume hit $69.75B, while TVL stands at $10.5 billion. Key projects launched include UpTop (DeFi), Volare Finance (options trading), and WeApe by Wello (stablecoin payments). The chain also launched an incentive program for real-world assets, went live with its AI Bot, and activated the Maxwell Hardfork on testnet for faster block times. The BNB AI Hack announced winners for its latest batch, and the Featured Activities Series now offers upward of $60,000 in rewards on Technically, BNB established a high-volume resistance zone around $669.68 after repeated failures to sustain bullish momentum. A second wave of selling hit during the midnight hour, with volume spiking to 81,409 units as prices broke below the $650 support level. Although BNB has managed a modest recovery from its cycle lows, forming potential support between $646-$648, the overall trend remains bearish with lower highs and lower lows. Technical Analysis Recap BNB fell from $672.53 to $646.27, a 3.91% decline over the 24-hour period. Most dramatic selling occurred at 16:00 with volume spiking to 100,471 units, establishing key resistance at $669.68. Additional selling pressure hit at midnight, with volume reaching 81,409 units as prices fell below $650. A modest support zone formed between $646-$648, though the broader trend remains bearish. The hourly chart shows higher lows forming an ascending support trendline, suggesting a short-term bullish attempt that could stall further downside. As global trade tensions weigh on risk assets, BNB's resilience will be tested as traders weigh regulatory clarity against macroeconomic headwinds. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- Business
- Yahoo
Bitcoin price today: dips to $105k as Trump tariff uncertainty spurs profit-taking
Bitcoin retreated on Friday, extending a recent decline from record highs as heightened uncertainty over U.S. President Donald Trump's trade tariffs spurred sustained profit-taking in crypto. The world's largest crypto was set for mild weekly losses, as it retreated from last week's peaks. More corporate buying action failed to lift prices, after Gamestop announced it had purchased over $500 million worth of coins. Positive regulatory developments also offered limited support, as the Securities and Exchange Commission said it was dropping its lawsuit against crypto exchange Binance. Bitcoin fell 1.8% to $105,580 by 09:54 ET (13:54 GMT). Bitcoin faced extended profit-taking this week after it raced to a record high of over $111,000 last week. Risk appetite was dented by vastly contrasting signals on Trump's tariff plans. An appeals court ruled on Thursday to temporarily allow Trump's tariff agenda, after a federal trade court ruled to block his tariffs earlier this week. Trump lashed out against the judges involved in the trade court decision, and said he hoped that the Supreme Court will back his tariffs. But analysts warned that prolonged legal sparring over Trump's tariffs only stood to increase market uncertainty over their impact. Concerns over the economic impact of Trump's tariffs were a key weight on risk-driven assets this year, especially as a swathe of economic data pointed to U.S. weakness. But this notion was marginally offset by a revised reading on first quarter gross domestic product, which showed the U.S. economy shrank slightly less than initially estimated. The U.S. SEC on Thursday voluntarily dismissed its civil lawsuit against Binance, the world's biggest crypto exchange, reflecting a shift at the regulator from new management under the Trump administration. The SEC dropped its case against Binance and founder Changpeng Zhao with prejudice, meaning that it cannot pursue the case again. The regulator, under former Chair Gary Gensler, had sued Binance and Zhao in June 2023 on allegations of artificially inflation trading volumes, diverting customer funds, and unlawfully facilitating the trading of several crypto tokens that should have been registered as securities. The case was separate from Binance's November 2023 guilty plea, which saw the exchange slapped with a $4.32 billion penalty for violating federal anti money laundering laws. Zhao had served a four-month sentence in prison. Binance's token, BNB, showed little reaction to the SEC news, falling 1.1% to $674.20. Piper Sandler came away from the 2025 Bitcoin conference with a more upbeat view on the momentum building across Bitcoin and digital assets. The broker highlighted several key developments that could accelerate broader adoption, particularly among traditional financial institutions. One major theme was the expected passage of stablecoin legislation in the U.S., which Piper said 'will likely be a stepping stone for market structure legislation and could set off a domino effect of Bitcoin/digital asset adoption among traditional financial firms.' The firm also noted that corporate interest in holding Bitcoin on balance sheets is stronger than previously assumed. Other takeaways included the growing push to tokenize traditional financial assets to improve liquidity and efficiency, as well as increasing investor demand for Bitcoin-linked products. Piper analysts pointed to innovations like Bitcoin-backed bonds and gold-protected Bitcoin funds, and observed that MicroStrategy's Bitcoin strategy is inspiring 'copycats.' On the political front, both Senator JD Vance and Senator Cynthia Lummis reiterated their support for establishing a Bitcoin strategic reserve. Losses in Bitcoin spilled over into broader crypto markets. World no.2 crypto Ether fell roughly 3% to $2,584.70, while XRP fell 5% to $2.17. Solana and Cardano dipped 5% and 5.5%, respectively, while Polygon shed 4.7%. Among meme tokens, Dogecoin plunged 8.7%, while $TRUMP slid 7.5%. (Ambar Warrick contributed to this report.) Related articles Bitcoin price today: dips to $105k as Trump tariff uncertainty spurs profit-taking What's next for Bitcoin? Analysts react to Trump Media's $2.5B Treasury plan Stablecoin firm Circle targets $6.71B valuation in New York IPO Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- Business
- Yahoo
BNB Price Prediction - What could affect BNB's future price?
BNB price prediction indicates potential volatility influenced by ecosystem upgrades, ETF prospects, and supply factors, supporting a cautiously bullish mid-term outlook. - Auto-burn mechanism targeting 100M supply by 2028 - VanEck's BNB ETF filing pending SEC approval - Technical consolidation near key Fibonacci resistance ($669.61) Auto-Burn Mechanism: BNB's deflationary model aims to reduce total supply to 100M (from ~142M today) via quarterly burns. The latest burn destroyed 1.94M BNB (~$1.17B), tightening supply. Maxwell Hardfork: Testnet launch on May 26, 2025, reduces block time to 0.75s, improving transaction speed. Mainnet activation by June 30 could boost DeFi/gaming adoption. BNB Vault & Staking: 30% YoY growth in staking (6.2% yield) and new yield products like slisBNB incentivize holding, reducing liquid supply. ETF Momentum: VanEck's spot BNB ETF proposal (filed May 6, 2025) could mirror Bitcoin ETF inflows if approved. Standard Chartered predicts $2,775 by 2028, citing institutionalization. SEC Lawsuit Dismissal: The SEC dropped its 2023 case against Binance on May 29, 2025, removing a regulatory overhang. However, broader crypto policy shifts under Chair Paul Atkins remain a wildcard. BNB Chain Adoption: 5,600+ DApps and $3.6B TVL anchor utility, but rivals like Solana (28% DEX market share vs. BNB's 19%) threaten growth. Key Levels: Immediate resistance at $669.61 (23.6% Fibonacci retracement). A breakout could target $726 (127.2% extension), while failure risks a drop to $640 support. Momentum: MACD histogram (0.384) and RSI (55-59) signal neutral-bullish bias. However, declining Open Interest (-7.9% weekly) hints at cautious derivatives traders. BNB's price hinges on balancing deflationary tokenomics against competitive pressures and ETF regulatory outcomes. Watch for a decisive break above $670 or a breakdown below $640 to gauge trend direction. Could BNB's regulatory clarity post-SEC lawsuit give it an edge over ETH/SOL in the next altseason? BNB price prediction reflects a cautiously bullish mid-term outlook (30d +11%) amid mixed short-term sentiment, as traders focus on $687-$690 resistance and $640-$650 support. - Institutional interest grows via ETF filings and BNB Chain partnerships - Technical divide between breakout hopes ($700+) and bearish structure warnings ($630s) - Network activity surges (+13% addresses, +14% TXs) as meme/DeFi use cases expand Traders are split between:- Bulls citing VanEck's ETF filing, BNB Chain's 13.95M daily transactions, and the SEC lawsuit dismissal - Bears highlighting failed $690 tests (May 27) and whale short positions The Crypto Fear & Greed Index at 61 (Greed) suggests optimism, though down from 76 last week. Technical Levels:- $687-$690: Multi-week resistance where 4.2M BNB sits in ask orders- $640-$650: Critical support zone with 1.8M BNB bid liquidity Institutional Moves:- VanEck's ETF proposal (May 6) could unlock $2B+ inflows if approved- BNB Wallet's $5.9B daily volume shows retail adoption Regulatory Shift:- SEC dropping charges (May 29) removes legal overhang- Trump administration's crypto-friendly policies buoy sentiment Dovey Wan (Crypto Researcher): 'BNB Wallet's growth creates flywheel effect via staking demands' Standard Chartered: $2,775 price target by 2028 Binance CEO Richard Teng: 'Dismissed lawsuit validates our compliance path' BNB's trajectory hinges on ETF progress and holding $640-$650 amid macro uncertainty. With chain activity offsetting whale shorts and regulation improving, the mid-term setup favors accumulation. Will VanEck's ETF approval become the catalyst for a $700+ breakout? To get the latest update on BNB, visit our BNB currency page. Content created: 30th May 2025 Disclaimer: Content generated by CMC AI. CMC AI can make mistakes, please DYOR. Not financial advice. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
a day ago
- Business
- Time of India
SEC Drops Lawsuit Against Binance, a Crypto Exchange
The SEC dismissed its lawsuit against Binance and Changpeng Zhao, signaling a retreat on crypto enforcement. This follows Zhao's guilty plea on money-laundering charges and a broader rollback of SEC regulations under the Trump administration. The Trump family's increasing involvement in the crypto industry, including deals and investments, raises conflict-of-interest concerns amid eased regulations. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS Tether 85.64 ( 0.22 %) Buy BNB 57,218 ( -2.56 %) Buy Bitcoin 8,998,325 ( -2.58 %) Buy Ethereum 224,117 ( -3.82 %) Buy XRP 187.07 ( -4.33 %) Buy Tired of too many ads? Remove Ads The Trump administration's retreat on crypto enforcement continued Thursday as the Securities and Exchange Commission announced that it was dismissing a lawsuit it filed two years ago against the giant cryptocurrency exchange Binance and its founder, Changpeng SEC had accused Binance and Zhao of lying to regulators about its operations in the United States and mishandling customer commission, the nation's top securities regulator, has moved to dismiss more than a dozen lawsuits or investigations against crypto firms. In February, it asked a federal judge to stay the litigation against Binance as it reassessed its approach to regulating the fast-growing crypto the four-page dismissal notice, the regulator said it was dropping the litigation "in the exercise of its discretion and as a policy matter."The dismissal is a signature moment for the SEC's regulatory rollback given the prominence of Zhao, a multibillionaire, in the crypto a Chinese-born Canadian who is also known as CZ, pleaded guilty in November 2023 to violating federal money-laundering charges. But he spent just four months in federal prison and emerged with most of his financial empire month, World Liberty Financial , a crypto firm started by President Donald Trump's family, announced that it was helping to facilitate a $2 billion business deal between Binance and MGX, an Abu Dubai-backed fund. Executives for World Liberty Financial also met with once a critic of the crypto industry, reversed his stance during last year's presidential campaign and vowed to let the industry flourish and roll back much of the SEC's regulatory enforcement and his family also have become major financial boosters of the crypto industry. Besides World Liberty Financial, they are backing a so-called meme coin that was introduced just days before Trump's inauguration in week, the president hosted a dinner at his Virginia golf club, and among the guests were the highest-paying customers of his personal cryptocurrency, known as $TRUMP. The event helped promote sales of the meme coin, which has become a vehicle for investors, including many foreigners, to funnel money to his Bitcoin, a crypto firm co-founded by Eric Trump, one of the president's sons, said this month that it planned to go this week, Trump's social media company, Trump Media & Technology Group , said it had raised $2.5 billion from investors to buy up bitcoin, essentially as an investment strategy. Trump Media, a money-losing venture, is the parent company of Truth is the company's largest shareholder, with a stake worth more than $2 billion. His shares are held in a trust managed by his eldest son, Donald Jr., who is a board have said the Trump family's involvement with crypto poses a potential conflict of interest given the SEC's moves easing the regulation of digital article originally appeared in The New York Times.
Business Upturn
2 days ago
- Business
- Business Upturn
XenDex Extends $XDX Presale as Exchange Listing Discussions Progress with Leading Exchanges
By GlobeNewswire Published on May 30, 2025, 02:09 IST SYDNEY, May 29, 2025 (GLOBE NEWSWIRE) — XenDex has confirmed it is actively negotiating with several top-tier exchanges ahead of the official listing of its native token, $XDX. This revelation comes just as the project team announced a limited extension of its presale phase due to overwhelming demand and investor requests. With over 93% of the $XDX presale allocation already sold, this final window which is just about 72-hour grace period, is the last chance for late investors to buy the token at discounted presale rates and $XDX will launch at market price across multiple exchanges. The presale extension coincides with bullish developments within the broader XRP ecosystem. Ripple has announced its acquisition of Circle, the issuer of USDC, while Volatility Shares has launched the XRPI Futures ETF, both of which have sent positive shockwaves across the crypto market. As institutional interest in XRP surges, XenDex is riding that momentum as the most anticipated DeFi platform to emerge on XRPL. What Makes XenDex Unique? Buy $XDX At Discount Price XenDex merges multiple financial tools into a single interface: AI Copy Trading : Automatically mimic the trades of top-performing traders and minimize loss. : Automatically mimic the trades of top-performing traders and minimize loss. Lending & Borrowing : Lend or borrow assets directly without third-party interference. : Lend or borrow assets directly without third-party interference. Cross-Chain Swaps : Trade XRP assets across other blockchains like; Ethereum, BNB, Solana, and more. : Trade XRP assets across other blockchains like; Ethereum, BNB, Solana, and more. DAO Governance: $XDX holders can vote on major protocol upgrades and decisions. Why Buy $XDX Now? Aside from pumping upon listing, and trading on exchanges, early holders of $XDX gain access to: Staking and yield farming rewards Reduced fees on all trading, lending, borrowing and other DeFi functions Priority access to new features, listings, and platform upgrades Governance voting rights that give users control over the platform's future upgrades and decisions XenDex Presale Crypto analysts are already speculating a strong pump once $XDX gets listed on the exchanges. After the presale, $XDX is expected to be available for trading on major exchanges, with active discussions currently underway with Binance, MEXC, BitMart, MagneticX, and FirstLedger. How To Buy $XDX During The Presale? Visit the official presale link: Set up a Trustline using an XRP-compatible wallet (e.g., Xaman) Minimum buy is 150 XRP Exchange rate is 1.25 XRP = 10 XDX Full guide available here: XenDex Presale Details Soft Cap: Reached Hard Cap: 93% SoldTime Left: 72-Hour Grace Period Only Presale Rate: 150 XRP = 1200 $XDX Buy XDX At A Cheap Rate: Join XenDex Community Below Website: Presale: Telegram: Twitter/X: Docs: Contact:Frank Richards [email protected] Disclaimer : This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
