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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    NFT sales plunge 18% to $116.9m, Polygon beats Ethereum

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    Matt Furie NFTs Crater 97% After Mint Exploit

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    Rekt Is Reaching the Masses

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    FC Barcelona unveils Barca Pass crypto wallet, NFT avatars

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    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

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    Long and Short Positions in Crypto Explained for Beginners

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    What Is Fully Diluted Valuation (FDV) in Crypto?

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Carrieverse and Disney Ink Content Deal

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Somnia Launches Playground App to Empower Metaverse Creators

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    Matt Furie NFTs Crater 97% After Mint Exploit

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    FC Barcelona unveils Barca Pass crypto wallet, NFT avatars

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    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

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    NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

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    Animoca Brands partners with Cross the Ages to support the launch of blockchain game

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    IN-Match3 Joins Forces with Adventure Layer to Scale GameFi, Boost Accessibility & Profitability

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    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

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    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

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    Crypto Casinos Made Over $80 Billion in 2024

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    A16z-backed Spekter Games founder shares Telegram gaming ethos

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    How Mobile Apps Are Quietly Adopting Web3 Tech

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    Location-Based Gaming NFTs: How GPS and Blockchain Are Changing the Way We Play

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Altcoins

Is Binance founder CZ’s sentence the boost BNB needed all along?

May 1, 2024
in Altcoins
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Is Binance founder CZ’s sentence the boost BNB needed all along?
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  • BNB tumbled over 6% in the 24-hour period owing to broader market bloodbath.
  • The positive commentary around the coin increased dramatically in the last 24–48 hours.

Binance Coin [BNB] suffered substantial losses in the last 24 hours, as the broader market downturn took its toll on the native token of the Binance ecosystem.

The fourth-largest cryptocurrency by market cap tumbled over 6% in the 24-hour period, data from CoinMarketCap showed.

However, on a monthly time frame, the coin performed comparatively better against other leading coins, nursing losses of just 6%.

That being said, BNB could be in for healthy gains in the short to medium term, as a major chapter, which fueled considerable FUD for the coin in the recent past, reached a conclusion.

A short-term bullish catalyst?

Binance’s ex-boss, Changpeng Zhao, popularly known as CZ, was sentenced to four months in prison, for the charges brought against him by the U.S. government.

The charges were severe, including violation of anti-money-laundering rules that allowed illicit transactions on the exchange.

The news of the announcement set the social circles buzzing. According to AMBCrypto’s analysis of Santiment’s data, the mention of BNB on top crypto-focused social channels surged dramatically.

Interestingly, positive commentary around the coin exceeded bearish takes, as weighted sentiment entered the positive territory. This suggested a more favorable view of BNB’s next moves by the market.

BNB market sentiment

Source: Santiment

Futures traders not hopeful of quick rebound

BNB’s sentiment in the derivatives market continued to be bearish.

The number of traders shorting the crypto increased considerably in the last 24 hours, AMBCrypto spotted using Coinglass’ Long/Shorts Ratio indicator.

BNB Long/Short

Source: Coinglass


Read Binance Coin’s [BNB]Price Prediction 2024-25

See also  Bitcoin Mining Firm CEO Predicts Start Of 'Supercycle'

The Open Interest (OI), or the money invested in active futures contracts of BNB, dropped 1.27% in the last 24 hours to $564 million.

While this might be due to the broader market downturn, BNB could see investments trickling in once the sentiment improves.

Next: BONK surges 50%, flips FLOKI in market cap, but key hurdles remain

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

  • BNB tumbled over 6% in the 24-hour period owing to broader market bloodbath.
  • The positive commentary around the coin increased dramatically in the last 24–48 hours.

Binance Coin [BNB] suffered substantial losses in the last 24 hours, as the broader market downturn took its toll on the native token of the Binance ecosystem.

The fourth-largest cryptocurrency by market cap tumbled over 6% in the 24-hour period, data from CoinMarketCap showed.

However, on a monthly time frame, the coin performed comparatively better against other leading coins, nursing losses of just 6%.

That being said, BNB could be in for healthy gains in the short to medium term, as a major chapter, which fueled considerable FUD for the coin in the recent past, reached a conclusion.

A short-term bullish catalyst?

Binance’s ex-boss, Changpeng Zhao, popularly known as CZ, was sentenced to four months in prison, for the charges brought against him by the U.S. government.

The charges were severe, including violation of anti-money-laundering rules that allowed illicit transactions on the exchange.

The news of the announcement set the social circles buzzing. According to AMBCrypto’s analysis of Santiment’s data, the mention of BNB on top crypto-focused social channels surged dramatically.

See also  Analyst Says Prepare For 700% Jump To $4, Here’s When

Interestingly, positive commentary around the coin exceeded bearish takes, as weighted sentiment entered the positive territory. This suggested a more favorable view of BNB’s next moves by the market.

BNB market sentiment

Source: Santiment

Futures traders not hopeful of quick rebound

BNB’s sentiment in the derivatives market continued to be bearish.

The number of traders shorting the crypto increased considerably in the last 24 hours, AMBCrypto spotted using Coinglass’ Long/Shorts Ratio indicator.

BNB Long/Short

Source: Coinglass


Read Binance Coin’s [BNB]Price Prediction 2024-25


The Open Interest (OI), or the money invested in active futures contracts of BNB, dropped 1.27% in the last 24 hours to $564 million.

While this might be due to the broader market downturn, BNB could see investments trickling in once the sentiment improves.

Next: BONK surges 50%, flips FLOKI in market cap, but key hurdles remain
Tags: BinanceBNBBoostCZsFounderNeededSentence

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