Latest news with #BinanceCoin
Yahoo
3 days ago
- Business
- Yahoo
BNB Tests $660 Resistance as Price Forms Short-Term Bearish Pattern
Binance Coin (BNB) is holding steady above the $650 mark despite rising volatility in global markets sparked by escalating global trade tensions. The cryptocurrency briefly touched $664 before pulling back, but heavy trading volume suggests solid support at $650, according to CoinDesk Research's technical analysis data model. The broader market has been rattled by President Trump's latest round of tariffs, which have added fresh uncertainty to global trade. Major crypto assets, including BNB, have not been immune to the resulting price swings. Still, BNB has shown notable resilience, helped by rapid growth in the BNB Smart Chain ecosystem. Daily transaction counts on BNB Smart Chain have climbed to 14 million, and decentralized exchange (DEX) volume is up 50% over the past month. In total, BNB Chain-based DEXs have processed more than $150 billion in trading volume over the last 30 days, outperforming competitors like Ethereum and Solana. This surge in on-chain activity points to a growing user base and stronger fundamentals, even as macroeconomic stress continues to weigh on investor sentiment. For traders navigating the current environment, BNB's relative strength stands out, supported not just by market momentum, but by deeper ecosystem engagement. Technical Analysis Highlights BNB continued to show strength over the weekend but is now displaying signs of short-term fatigue after failing to break resistance at $664. A clear uptrend began around 14:00 on June 1, when BNB surged past $650, backed by above-average volume of 45,756 units. The momentum pushed prices toward the $662–$664 zone by 01:00 on June 2, where the rally stalled amid heavy selling pressure. In the hours that followed, BNB entered a tight consolidation range between $658.05 and $659.60. Around 07:17, the token briefly spiked to the upper end of that range before pulling back. Volume peaked at 07:18 and again at 07:51, during both a rejection and a short-lived rally, signaling active but indecisive market behavior. Since that peak, BNB's price has carved out a descending channel marked by lower highs, a classic pattern that suggests short-term bearish sentiment. Still, the $658.00 to $658.20 zone has emerged as a reliable support base, absorbing selling pressure and providing a possible launchpad for the next move. While the broader outlook for BNB remains tied to the strength of its ecosystem, near-term traders are watching this channel closely. A breakout above recent highs could invalidate the bearish pattern, while a drop below support might confirm it. 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
Yahoo
6 days 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
29-05-2025
- Business
- Yahoo
BNB Breaks $687 Resistance as Investors Seek Crypto Hedge Amid Global Tensions
Recent escalations in global trade disputes have created a complex backdrop for cryptocurrency markets, with BNB demonstrating notable strength despite economic headwinds. The token's upward momentum comes as investors seek alternative assets amid traditional market volatility caused by ongoing geopolitical tensions. While central banks worldwide adjust monetary policies to combat inflation, digital assets like BNB are increasingly viewed as potential hedges against economic uncertainty. Technical Analysis Highlights Price action formed a clear uptrend, breaking through key resistance at $687.50 with above-average volume during the 00:00 hour push to $691.06, establishing new support at the $688.70 level. Most significant price movement occurred between 23:00-00:00 when BNB surged on 45,675 units of volume (well above the 24-hour average), confirming strong buyer conviction. In the last hour, BNB experienced a notable price correction, retreating from its earlier peak of $690.11 at 01:21 to $688.87 by 02:06, representing a 0.18% decline. Increased volatility between 01:50-01:53 when it briefly rallied to $689.85 before encountering resistance, followed by a sharper downward movement at 01:57. Price dropped from $689.53 to $689.13 on significantly higher volume (926.88 units), suggesting profit-taking after the earlier uptrend. External References "BNB Price Analysis and Short-term Forecast", CoinPedia, published May 27, 2025. "Binance Coin (BNB) Nears $700 Resistance: Is $750 Next?", The Crypto Basic, published May 28, 2025. 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 Business News
23-05-2025
- Business
- Time Business News
Why Crypto Enthusiasts Are Choosing Swapking Exchange for Secure, Efficient, and User-Friendly Transactions
Swapking Exchange: Leading the Way in Secure and Efficient Crypto Trading Swapking Exchange has rapidly emerged as a trusted platform for cryptocurrency enthusiasts seeking secure, efficient, and user-friendly trading experiences. In an industry where transparency and reliability are paramount, Swapking Exchange distinguishes itself by offering a robust suite of features designed to meet the needs of both novice and seasoned traders. The cryptocurrency market is known for its volatility and rapid changes. In such an environment, having a dependable exchange platform is crucial. Swapking Exchange provides a stable and secure environment, ensuring that users can trade with confidence. The platform's commitment to user security and transaction integrity sets it apart from many competitors. Security is a top priority for Swapking Exchange. The platform employs advanced security protocols, including two-factor authentication (2FA) and encryption standards, to protect user data and assets. Additionally, the majority of user funds are stored in cold wallets, minimizing the risk of online breaches. Swapking Exchange is designed with the user in mind. The intuitive interface ensures that both beginners and experienced traders can navigate the platform with ease. Real-time market data, customizable dashboards, and streamlined trading processes contribute to an efficient trading experience. Diversification is key in crypto trading. Swapking Exchange supports a broad spectrum of cryptocurrencies, including popular options like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), as well as emerging altcoins. This extensive selection allows traders to explore various investment opportunities within a single platform. Cost efficiency is vital for traders aiming to maximize profits. Swapking Exchange offers competitive trading fees, ensuring that users retain more of their earnings. The transparent fee structure eliminates hidden costs, allowing traders to plan their strategies effectively. In the fast-paced world of crypto trading, timely support is essential. Swapking Exchange provides responsive customer service to address user inquiries and issues promptly. The support team is accessible through multiple channels, ensuring that assistance is readily available when needed. The growing user base of Swapking Exchange is a testament to its reliability and user-centric approach. Traders appreciate the platform's commitment to security, ease of use, and comprehensive features. By continuously evolving to meet market demands, Swapking Exchange has established itself as a preferred choice for crypto trading. 1. Is Swapking Exchange suitable for beginners? Yes, Swapking Exchange is designed to cater to traders of all experience levels. The user-friendly interface and comprehensive resources make it accessible for beginners. 2. What security measures are in place to protect user assets? Swapking Exchange employs advanced security protocols, including two-factor authentication and cold storage of funds, to safeguard user assets. 3. Which cryptocurrencies can I trade on Swapking Exchange? The platform supports a wide range of cryptocurrencies, including major coins like BTC, ETH, and BNB, as well as various altcoins. 4. How does Swapking Exchange ensure competitive trading fees? Swapking Exchange offers a transparent fee structure with competitive rates, allowing traders to maximize their returns without hidden costs. 5. What kind of customer support does Swapking Exchange provide? The platform offers responsive customer support through multiple channels, ensuring that users receive timely assistance for their queries and concerns. In the dynamic landscape of cryptocurrency trading, having a reliable and secure platform is essential. Swapking Exchange stands out by offering a comprehensive suite of features tailored to meet the diverse needs of traders. From advanced security measures and a user-friendly interface to a wide selection of cryptocurrencies and competitive fees, Swapking Exchange provides an environment where traders can operate with confidence. Whether you're new to crypto trading or an experienced investor, Swapking Exchange is equipped to support your trading journey every step of the way. TIME BUSINESS NEWS
Business Mayor
18-05-2025
- Business
- Business Mayor
Binance coin: Spot vs. Futures traders – Who's in control of BNB's price?
BNB price rose 0.10% in 24 hours, but futures traders showed reduced confidence with declining Open Interest. Short traders lost over $102K in 24 hours despite a bearish bias, hinting at underlying bullish resilience. Binance Coin's [BNB] price movement over the past 24 hours has remained neutral, with a modest gain of 0.10%. While that sounds uneventful, under the hood, market behavior and on-chain signals tell a far more nuanced story. Spot and futures traders take different sides Spot traders have taken the bullish position, continuing to acquire more BNB from the market. Over the last day alone, $8.34 million worth of BNB moved off exchanges, bringing the week's net outflow to $31.28 million. This purchase is worth noting, as it indicates traders are acquiring BNB from exchanges and transferring it to private wallets. Source: CoinGlass This trend indicates a long-term positive outlook for the asset, which is crucial for maintaining its price stability. However, futures traders remain unconvinced. Notably, AMBCrypto found that Binance's largest traders by position size are the most bearish. This sentiment is reflected in the Taker Buy/Sell Ratio, reported by CoinGlass at 0.955. The Taker Buy/Sell Ratio, a key market indicator from CoinGlass, measures whether buying volume (above 1) or selling volume (below 1) is dominant. The broader market appears even more bearish, with the press time ratio at 0.9139, suggesting weaker buying pressure overall. Source: CoinGlass Open Interest (OI) has also declined, continuously trending lower. BNB's OI fell from $855.2 million earlier in May to $789.9 million. That drop in unsettled contracts shows reduced conviction and fading momentum. Source: CoinGlass Surprisingly, short traders recorded higher losses in the past 24 hours, losing $102,560 compared to $2,140 lost by long traders. Read More Uniswap drops to a key bullish zone – Is a pivot likely? Greater losses among short traders suggest that the market has tilted against them, giving the advantage to the longs. BNB development activity drops Having said that, activity on the BNB Smart Chain paints a more cautious picture. After a solid build-up earlier this month, daily smart contract deployment has sharply pulled back. According to BscScan, deployments dropped 34.77% in 24 hours to 54,369. Verified contracts also fell 22.69% to 259. Naturally, fewer contracts mean lower network usage and less on-chain demand for BNB. Source: BSCscan The continued slowdown in development activity could be a defining factor in whether BNB stages a rally or faces further decline.
