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Binance Coin (BNB) is showcasing a unique trend on the volatile crypto market today. In the last 24 hours, BNB has significantly recovered, suggesting that the sell-off trend in earlier trading sessions may be over if it continues on this path.
Binance Coin progresses from sell-off to stabilization
CoinMarketCap data shows that, at the start of trading, BNB dropped to $535.62 as the broader market sell-off hit its daily peak. However, as trading activities increased, the coin gained almost $30 and breached several resistance levels.
This price rebound suggests that BNB is set to break out again if it overcomes its sell-off trend. As another round of sell-offs emerged, the asset's earlier rebound toward $600 was rejected at this price level.
Gamza KhanzadaevMany had anticipated that BNB would lead the altcoin rebound at the start of April. Notably, there had been a consistent surge in its trading volume at the time, and market watchers expected this to boost its reclaiming of the $600 mark.
As of press time, the BNB price was changing at $561.80, marking a 0.17% surge in the last 24 hours. While this price level is significant, the trading volume has declined by 3.45% to $1.79 billion within the same time frame.
This indicates that investors are yet to fully warm up to the price recovery. A rekindling of interest from BNB investors might catalyze its current rebound push.
CZ’s new role and spotlight for BNB
Meanwhile, the Binance ecosystem is in the spotlight beyond price discovery. The top trading platform has revealed plans to delist seven trading pairs from the exchange to ensure a high-quality crypto market. As U.Today reported, the delisting will come into effect on April 11, 2025.
Dan BurginIn another development, Changpeng "CZ" Zhao, the founder of Binance, has been appointed a strategic advisor in Pakistan. CZ will advise the country’s newly established Crypto Council on shifting toward cryptocurrency adoption.
CZ’s appointment has further placed Binance Coin in the spotlight, a move that can contribute to its ongoing bullish reversal.
Vladislav Sopov
Dan Burgin