Binance Coin Remains Steady Despite Increasing Regulatory Scrutiny on Binance
Binance Coin (BNB) emerged as one of the top gainers in the crypto industry on Monday after soaring by over 7% in the past 24 hours. However, the fourth-largest cryptocurrency has suffered a mild correction over the past few hours, sending BNB to $322, where it currently trades.
Binance Coin’s bullish traction reportedly comes from a boost from Bitcoin's reclaim of the $34k level, which shot market confidence up and drove prices higher. Also, the ramped-up activities on the world’s largest exchange, Binance, over the weekend bolstered the market sentiment surrounding Binance Coin.
However, with the mounting regulatory pressure on Binance, the BNB could come under renewed bearish pressure and uncertainty in the short term and long term. That said, BNB has, so far, ignored these…
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