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BNB Fumbles at $33, Binance Get Sued and More News from the Exchange – Ethereum World News

Quick summary:

  • Binance Coin (BNB) has corrected to the $28 level after a local peak of $33.38
  • The pullback happened immediately CZ tweeted about the new peak value
  • Bella Protocol (BEL) trading commences today
  • Binance has canceled the listing of BTT/USDT perpetual contract
  • The exchange has listed SWRV, LTCUP, LTCDOWN and more
  • Binance is being sued for allegedly playing a part in laundering Bitcoin from a 2018 hack

The team at Binance has been known for continually building with DeFi being their latest focus. In the past few weeks, Binance has molded itself into a Centralized-DeFi platform (CeDeFi). All the DeFi activities at Binance have benefited the value of Binance Coin with BNB taking off from around $18 when the Binance Launchpool was launched, to the recent peak of $33.38.

Binance Coin (BNB) Fumbles at $33 and Right After CZ Tweeted About It

After printing the local peak at $33.38, Binance Coin has since corrected hard dropping to as low as $27.98.

BNB was clearly overbought but what makes the pullback interesting, is the fact that it happened immediately after CZ tweeted about the new peak price. Furthermore, he implied that it was not a good idea to bet against Binance Coin. CZ’s tweet can be found below.

What Next for Binance Coin in the Crypto Markets?

Binance Coin has since found some short term support at the $27 – $28 price area and could result in a short term bounce to the $30 – $32 area. However, a loss of this support zone could send Binance Coin back to the $25 – $26 support zone.

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