- BNB and Binance are some of the top trending topics, according to data from Santiment.
- This is likely fueled by allegations implying that the CEO of Binance is engaged in an ongoing process of selling off his Bitcoin holdings.
- BNB’s price spiked by more than 3% over the past day, which left it trading at $216.05.
In the realm of cryptocurrency, current trends reveal that Binance and its associated token BNB have swiftly ascended to the top ranks of trending topics, according to a Twitter post shared by the market intelligence platform Santiment. Mostly, it seems like price fluctuations and controversies are the fuel behind BNB and Binance being hot topics at the moment.
Santiment noted that most discussions center around significant allegations implying that Changpeng Zhao, the CEO of Binance, is engaged in an ongoing process of selling off his Bitcoin (BTC) holdings. This purported action is believed to be aimed at bolstering Binance Coin’s (BNB) value and preventing it from dropping below crucial support thresholds.
This naturally led to cryptocurrency enthusiasts sharing possible theories about what is really happening with BNB and Binance. Additionally, Santiment also shared that the market dominance of BNB has also been mentioned on social media.
BNB was not only drawing attention on social platforms, but the token also secured itself a spot on CoinMarketCap’s trending list. Over the past 24 hours, BNB’s price was able to climb by more than 3%, making it one of the few cryptocurrencies trading in the green today.
Consequently, BNB was trading at $216.05 at press time, which was just below its daily high of $216.18. BNB’s 24-hour success also allowed it to strengthen against the market leader, Bitcoin (BTC), by about 3.42%.
Along with its price surge, BNB’s 24-hour trading volume experienced a more than 18% increase. As a result, the token’s intraday volume stood at $719,796,490 at press time. The utility token’s market cap of $33,234,585,774 ranked it as the 4th largest cryptocurrency, placing it right on top of Ripple (XRP) in the 5th spot with its market cap of $27,402,459,830.
BNB is still on a journey to complete recovery following the recent market crash, with a remaining deficit of 7.97% in the past week. Furthermore, BNB’s price has experienced a decline of over 10% during the last thirty days of trading.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
