BNB lags market despite break above $860 as scrutiny of Binance grows
BNB underperformed the crypto market rise following an investigation into Binance's failure to stop suspicious transactions.Summary
The price of BNB rose over 1.7% in 24 hours, surpassing the $860 resistance level, even as the broader CoinDesk 20 (CD20) index increased by 2.2%. This price action occurred while BNB lagged the market due to a Financial Times investigation alleging that Binance failed to prevent hundreds of millions of dollars in cryptocurrency from flowing through suspicious accounts, despite having settled a U.S. criminal case for $4.3 billion in 2023. Trading volume for BNB surged 192% above the daily average, showing strong momentum, and established new support between $856–$858 after an early dip. Despite a V-shaped recovery, BNB remains 32% below its all-time high of $1,360, significantly underperforming other exchange tokens like KCS and LEO in terms of proximity to their highs.
(Source：CoinDesk)