Latest news on Binance and $BNB coin

Last year, Binance's native token, Binance Coin (BNB), was hit by significant uncertainty due to the charges faced by founder Changpeng Zhao (CZ) and the exchange. During this period, CZ admitted his guilt and quickly resigned as CEO. Richard Teng then took over as CEO, successfully eliminating the uncertainty surrounding the exchange and reinjecting market confidence. Because of this, BNB coin avoided a major drop and the current situation has become positive.

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#BNB coin price status

Currently, BNB coin is experiencing a historic moment. In recent hours, BNB coin has continuously refreshed its historical highs, breaking through $700 for the first time, which has been warmly welcomed by investors. Although the price has retreated slightly after breaking through $710, it is still up 11% in the past 24 hours. In the past 7 days, this increase is 16%, and in the past 30 days, this increase is 20%.

The market value of #BNB coin also soared to $103 billion after breaking through $700. The trading volume also showed the momentum of rising prices, with the trading volume exceeding $3.895 billion in 24 hours, an increase of 32%. After breaking through the $100 billion market value, BNB became the fourth cryptocurrency to reach this level after Bitcoin (BTC), Ethereum (ETH) and stablecoin USDT. At present, BNB coin continues to remain above $700, and investors are full of expectations for its future trend.

Future Outlook of $BNB Coin

Famous market expert "Sniper Sheldon" believes that if the current upward trend continues, #BNB coin is expected to become one of the leading altcoins in the bull market, with a target price of $1,000. Sheldon said that the bullish outlook for BNB coin is obvious and is expected to exceed the historical high of $686 set in May 2021. Kaleo, another cryptocurrency analyst, stressed that BNB is about to enter the "price discovery phase," and he reminded people of BNB's role as an early leader in the previous bull run, suggesting that history may repeat itself.

In addition, since Zhao Changpeng was convicted in April this year, regulatory scrutiny on Binance has decreased significantly. This creates favorable conditions for the platform and its native token BNB to welcome the expected institutional capital inflows and trading volume surge.

In general, the future of $BNB coin is bullish, and if the current trend continues, BNB coin is expected to reach new highs in the bull market.