In the latest Binance coin news, the rumor that Trump family would invest in Binance continues to push up BNB coin and ecosystem token price.
In the last 24 hours. BNB has rallied 10% while Binance ecosystem tokens like Pancakeswap rallied by more than 40%.
A rumor that started on Thursday, March. 13 stating that the Trump family was in negotiations to acquire part of the Binance.US continues to impact BNB token prices.
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Though CZ – Binance owner and former CEO has since dispelled these rumors, the altcoin prices are still enjoying the associated hype.
Over the last 24 hours, for example, it has rallied by more than 10% while its daily trading volumes shot up by more than 40% to hit $2 Billion.
Several tokens operating in the Binance ecosystem have also been riding this wave and have rallied massively over the past few days.
Pancakeswap, for instance, is up by more than 40% in the last 24 hours. This brings its total gains for the week to more than 60%. Its daily trading volume has also skyrocketed by more than 300% over the same period to reach $640 Million.
Other News Driving Up BNB Coin Prices
In addition to the Trump rumors, several other factors have helped fuel Binance coin’s rally. For starters the news that Binance Chain network had overtaken the trouble ridden Solana in DEX volumes. It now is the largest blockchain network by DEX volume having processed $1.64 Billion in the last 24 hours, against Solana and Ethereum’s $1.07 Billion and $1.012 Billion, respectively.
Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
BNB Coin’s Next Price Action
From the technical analysis perspective, Binance is mildly bullish but needs to break above the key resistance level of $640 and possibly maintain its price of $650 to confirm the bullishness. On the daily timeframe, for example, BNB is on an uptrend from a recent dip around $560.
The altcoin is currently forming a bullish crossover with the MACD line having crossed the signal line from below. And they are still in the negative territory, it is an indication of growing bullish momentum. The growing bullish momentum has been confirmed by its RSI of 55, having bounced from the oversold region of 30, a week ago.
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