Rally

David Vance

Coin

<p>End of turbulence for Binance’s cryptocurrency? Judging by recent developments, BNB seems to have regained some color. Yet, marked by unprecedented challenges, the year 2023 had left it drained.</p>
<h2 id="h-bnb-soars-to-new-heights-the-600-quest">BNB Soars to New Heights: The $600 Quest</h2>
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     <p lang="en" dir="ltr">We are so back ! <a href="https://t.co/xneHHRpsgn" rel="noopener noreferrer nofollow">pic.twitter.com/xneHHRpsgn</a></p>— David Prinçay (@davidprincay) <a href="https://twitter.com/davidprincay/status/1766764615449407891?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 10, 2024</a>
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<p>Binance, entangled in <strong>a series of scandals</strong> last year (<a href="https://www.cointribune.com/la-sec-charge-binance-et-cz/" target="_blank" rel="noopener noreferrer nofollow">lawsuit against the US SEC</a>, a record fine of 4 billion dollars, the forced departure of Changpeng Zhao (CZ), etc.), seems to be finally out of trouble. The <a href="https://www.cointribune.com/en/start-of-the-binance-coin-bnb-ascension-technical-analysis-of-january-17-2024/" target="_blank" rel="noopener noreferrer nofollow">optimal conditions</a> for the <strong>revival of the largest crypto exchange platform</strong> and its cryptocurrency BNB were met as early as mid-January. The prospect of <a href="https://www.cointribune.com/la-crypto-bnb-de-binance-sechappe-t-elle-des-tracas/" target="_blank" rel="noopener noreferrer nofollow"><strong>a rapid recovery</strong></a><strong> for Binance Coin</strong> was suggested in the third week of February.</p>
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<p>Recently, <a href="https://www.cryptointelligence.co.uk/bnb-hits-two-year-high-amid-market-optimism-what-price-target-is-next/" target="_blank" rel="noopener noreferrer nofollow">Crypto Intelligence</a> described <strong>a phoenix-like resurrection for Binance’s flagship cryptocurrency</strong>.</p>
<p>BNB reached <strong>its highest level in two years</strong> amid market optimism, sparking heated debates among traders. With an impressive increase of <strong>64% in 30 days</strong>, Binance’s cryptocurrency peaked at <strong>$536.50 on March 10th</strong>.</p> 
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<p>This dramatic rise consolidates its position as the <strong>third cryptocurrency in terms of market capitalization</strong>, excluding stablecoins. Speculators are now questioning whether the <strong>imminent crossing of the symbolic $600 threshold</strong> is on the horizon, prophesying a new era of prosperity for BNB.</p>
<h2 id="h-binance-s-robustness-in-the-spotlight-a-bulwark-against-failings-of-rival-crypto-exchanges">Binance’s Robustness in the Spotlight: A Bulwark Against Failings of Rival Crypto Exchanges</h2>
<p>The <strong>recent surge in cryptocurrency trading volume</strong> has highlighted issues faced by several major platforms, with Coinbase in the lead, struggling with <a href="https://www.cointribune.com/en/?p=675488" target="_blank" rel="noopener noreferrer nofollow">repeated outages</a>. <strong>Outcries are substantial</strong>, particularly from investors like @Rampage_Calls and Vijay Boyapati, likening Coinbase’s liquidity issues to the fall of MtGox. Boyapati’s call to action sheds light on the <strong>crucial importance of a reliable exchange infrastructure,</strong> an area where Binance excels with its robust system.</p>
<p>This has undoubtedly attracted users, bolstered by incentives such as <strong>reduced trading fees</strong>. However, the value of BNB goes beyond these aspects, its chain ecosystem being an essential asset. Despite a decline in smart contract deposits on the BNB Chain, <strong>the volume of DApps has increased significantly</strong>, evidencing growing user engagement. With <strong>5.6 million active addresses</strong>, the BNB Chain demonstrates solid community involvement.</p>
<h2 id="questions-about-the-sustainability-of-this-rally">Questions About the Sustainability of This Rally</h2>
<p>The recent rally of BNB raises questions about its sustainability. Investors have long been <strong>skeptical about Binance Coin</strong>, notably after the legal troubles of its founder, Changpeng “CZ” Zhao. His decision to <strong><a href="https://newsletter-fr.cointribune.com/p/cz-quitte-binance" target="_blank" rel="noopener noreferrer nofollow">step down as CEO</a></strong> cast doubts on the future of BNB cryptocurrency, closely tied to the Binance ecosystem.</p>
<p>However, the settlement between Binance and the US CFTC in December 2023, demanding better corporate governance, has alleviated some fears.</p>

The BNB crypto is soaring: Towards conquering $600 in a whirlwind of success.

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