Binance Coin [BNB] remains untethered by all the drama that has been happening with respect to the cryptocurrency exchange.
Regulators across the globe have been taking down the cryptocurrency exchange, Binance. While several authorities were noted banishing Binance for functioning without a license, banks like Barclays seem to comply with the regulators. Recently, the bank shot down any potential transactions pertaining to Binance.
None of this affected the altcoin. BNB was making headway in terms of price. After residing below $300 for so long, the altcoin finally pushed ahead. At the time of writing, the Binance coin was trading for $314 with a 6.59% surge in the last 24-hours. Over the last seven days, the coin witnessed a dainty growth of 1.55%. BNB’s market cap was at $48.23 billion which further put the altcoin at the fourth spot.
The overall sentiment in the market was quite good. The market was painted green during press time. Bitcoin [BTC] was seen climbing back over $34K. The market cap of the crypto industry was also on a surge. It was noted at $1.44 trillion.
Binance Coin [BNB] one-hour price chart
The short-term price chart of BNB noted a bearish sentiment. However, the Bollinger Bands indicator suggested that there was limited volatility in the market. This could be beneficial for the altcoin considering the ongoing notion in the market. The Awesome Oscillator indicator formed red closing bars suggesting a bearish momentum.
The trading activity in the market seemed high. The Relative Strength Index [RSI] indicator was exhibiting extreme buyers’ sentiment. The RSI marker remained over the 50 median.
While Binance tries to deal with regulators, its native cryptocurrency Binance coin seems quite untethered. However, the altcoin could endure a small drop in the short term.
Addressing the ongoing situation, Changpeng Zhao tweeted a couple of days ago,
“For those who has been following/supporting us, you know we don’t engage in debates/fights, we focus on solving problems, and we will. As always, thank you for your trust and support! We will continue to grow together. “