{"id":507165,"date":"2022-10-20T12:45:47","date_gmt":"2022-10-20T12:45:47","guid":{"rendered":"https:\/\/wncen.com\/?p=507165"},"modified":"2023-12-07T17:54:32","modified_gmt":"2023-12-07T17:54:32","slug":"binance-coin-buying-volume-up","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/binance-coin-buying-volume-up\/","title":{"rendered":"Binance Coin Buying Volume Up &#8211; Will This Push BNB Up To $275 Level?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Binance Coin (BNB) had an opportunity for a price rally last week after its parent company finally completed the scheduled token burn for the third quarter of the year.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">BNB price slightly corrected after going up by almost 4% following the latest burning of Binance tokens<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Binance established $260 as its support level<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The altcoin might fall to $250 before continuing its price rally<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">With that, the total number of <\/span><span style=\"font-weight: 400\">burned<\/span><span style=\"font-weight: 400\"> (destroyed) BNB tokens reached 2,065,152, which is worth over $563 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Shortly after, Binance went up by 3.75% to trade at $274.6, confirming the asset\u2019s positive response to the burning mechanisms introduced to reduce the crypto\u2019s overall supply of 200 million by half.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At press time, the altcoin is experiencing a slight price correction, changing hands at $272.93 according to tracking from <\/span><a href=\"https:\/\/coincodex.com\/crypto\/binance-coin\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Coincodex<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, thanks to a substantial increase in BNB\u2019s buying volume, a bullish rally could be on the horizon for the 4<\/span><span style=\"font-weight: 400\">th<\/span><span style=\"font-weight: 400\"> largest cryptocurrency in terms of market capitalization.<\/span><\/p>\n<h2><b>Analyzing Price Movement Of Binance Coin<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Binance was not spared by the widespread price dip that continues to bother all of crypto space as it has spent many days in the red zone for the past two months just like Bitcoin and Ethereum.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The token somehow managed to establish $260 level as its <\/span><a href=\"https:\/\/ambcrypto.com\/binance-coin-bnb-offers-an-attractive-buying-opportunity-here\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">support<\/span><\/a><span style=\"font-weight: 400\"> zone, which means the asset\u2019s price won\u2019t go lower than that as long as the marker is maintained.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/aave-price-poised-for-rebound\/\" target=\"_blank\" rel=\"noopener \">AAVE Price Poised For Rebound With $94 On The Crosshair \u2013 Time To Buy?<\/a><\/div>\n<pre style=\"text-align: center\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-507171 size-jnews-750x375\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/c1-31.png?resize=750%2C342\" alt=\"\" width=\"750\" height=\"342\"><span style=\"font-weight: 400\">Source: TradingView<\/span><\/pre>\n<p><span style=\"font-weight: 400\">BNB\u2019s 12-hour chart indicates a range between $260 and $300 with the $280 marker acting as mid-point and both as crucial resistance and support zone.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In terms of liquidity, Binance appears to be eagerly bought and traders are actually encouraged right now to find an entry point as good risk-to-reward buying opportunity is knocking on their doors.<\/span><\/p>\n<h2><b>Binance Welcomes October With Another Hacker Attack<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Binance Smart Chain (BSC) opened this month with another massive cyber attack that <\/span><a href=\"https:\/\/www.finextra.com\/newsarticle\/41092\/binance-resumes-operations-after-100m-crypto-hack#:~:text=An%20estimated%20%24100%20million%20in,BSC)%20to%20shift%20the%20funds.\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">drained<\/span><\/a><span style=\"font-weight: 400\"> $100 million worth of BNB tokens.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The BSC Token Hub was targeted as hackers exploited the cross-chain bridge that linked it with BSC. Fund transfer was then initiated and the cryptocurrency exchange platform was forced to halt its operations in order to address the issue.<\/span><\/p>\n<p><span style=\"font-weight: 400\">BSC was quick to tone down the incident as a spokesperson from the company told the incident was an isolated one and that they have devoted enough time to solve the problem before going back online.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/elrond-coin-looks-to-breach-55-resistance\/\" target=\"_blank\" rel=\"noopener \">Elrond Coin Looks To Breach $55 Resistance \u2013 Is $65 Hittable This Month?<\/a><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/IG7hkDAY\/\" width=\"1834\" height=\"875\"><\/p>\n<pre style=\"text-align: center\">BNB market cap at $43.9 billion on the daily chart | Featured image from Cryptopolitan, Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a>\r\n\r\nDisclaimer: The analysis represents the author's personal views and should not be construed as investment advice.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Binance Coin (BNB) had an opportunity for a price rally last week after its parent company finally completed the scheduled token burn for the third quarter of the year. BNB price slightly corrected after going up by almost 4% following the latest burning of Binance tokens Binance established $260 as its support level The altcoin might fall to $250 before continuing its price rally With that, the total number of burned (destroyed) BNB tokens reached 2,065,152, which is worth over $563 million. Shortly after, Binance went up by 3.75% to trade at $274.6, confirming the asset\u2019s positive response to the burning mechanisms introduced to reduce the crypto\u2019s overall supply of 200 million by half. At press time, the altcoin is experiencing a slight price correction, changing hands at $272.93 according to tracking from Coincodex. However, thanks to a substantial increase in BNB\u2019s buying volume, a bullish rally could be on the horizon for the 4th largest cryptocurrency in terms of market capitalization. Analyzing Price Movement Of Binance Coin Binance was not spared by the widespread price dip that continues to bother all of crypto space as it has spent many days in the red zone for the past two months just like Bitcoin and Ethereum. The token somehow managed to establish $260 level as its support zone, which means the asset\u2019s price won\u2019t go lower than that as long as the marker is maintained. Related Reading: AAVE Price Poised For Rebound With $94 On The Crosshair \u2013 Time To Buy? Source: TradingView BNB\u2019s 12-hour chart indicates a range between $260 and $300 with the $280 marker acting as mid-point and both as crucial resistance and support zone. In terms of liquidity, Binance appears to be eagerly bought and traders are actually encouraged right now to find an entry point as good risk-to-reward buying opportunity is knocking on their doors. Binance Welcomes October With Another Hacker Attack Binance Smart Chain (BSC) opened this month with another massive cyber attack that drained $100 million worth of BNB tokens. The BSC Token Hub was targeted as hackers exploited the cross-chain bridge that linked it with BSC. Fund transfer was then initiated and the cryptocurrency exchange platform was forced to halt its operations in order to address the issue. BSC was quick to tone down the incident as a spokesperson from the company told the incident was an isolated one and that they have devoted enough time to solve the problem before going back online. Related Reading: Elrond Coin Looks To Breach $55 Resistance \u2013 Is $65 Hittable This Month? BNB market cap at $43.9 billion on the daily chart | Featured image from Cryptopolitan, Chart: TradingView.com Disclaimer: The analysis represents the author&#8217;s personal views and should not be construed as investment advice.<\/p>\n","protected":false},"author":557,"featured_media":507170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,10768,428,11427,1119,1144,6664,8323,1946,8686,4728],"class_list":["post-507165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-binance","tag-bitcoin","tag-bnb","tag-btc","tag-btcusd","tag-crypto","tag-eth","tag-ethereum","tag-ethusd","tag-token"],"acf":[],"yoast_head":"\n<title>Binance Coin Buying Volume Up - Will This Push BNB Price Up?<\/title>\n<meta name=\"description\" content=\"Binance Coin (BNB) had a shot at a major price pump last week after its parent company finally completed the scheduled token burn.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/binance-coin-buying-volume-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Coin Buying Volume Up - Will This Push BNB Price Up?\" \/>\n<meta property=\"og:description\" content=\"Binance Coin (BNB) had a shot at a major price pump last week after its parent company finally completed the scheduled token burn.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/binance-coin-buying-volume-up\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-20T12:45:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-07T17:54:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Binance-Coin.png\" \/>\n\t<meta property=\"og:image:width\" content=\"843\" \/>\n\t<meta property=\"og:image:height\" content=\"424\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/binance-coin-buying-volume-up\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/binance-coin-buying-volume-up\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Binance Coin Buying Volume Up &#8211; 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Binance Coin Buying Volume Up &#8211; Will This Push BNB Up To $275 Level?","url":"http:\/\/wncen.com\/news\/binance-coin-buying-volume-up\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/binance-coin-buying-volume-up\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Binance-Coin.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Binance-Coin.png?fit=843%2C424"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","binance","bitcoin","bnb","btc","btcusd","crypto","eth","ethereum","ethusd","token"],"dateCreated":"2022-10-20T12:45:47Z","datePublished":"2022-10-20T12:45:47Z","dateModified":"2023-12-07T17:54:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Binance Coin Buying Volume Up &#8211; Will This Push BNB Up To $275 Level?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/binance-coin-buying-volume-up\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/binance-coin-buying-volume-up\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Binance-Coin.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Binance-Coin.png?fit=843%2C424\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"binance\",\"bitcoin\",\"bnb\",\"btc\",\"btcusd\",\"crypto\",\"eth\",\"ethereum\",\"ethusd\",\"token\"],\"dateCreated\":\"2022-10-20T12:45:47Z\",\"datePublished\":\"2022-10-20T12:45:47Z\",\"dateModified\":\"2023-12-07T17:54:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Binance-Coin.png?fit=843%2C424","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/507165"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=507165"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/507165\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/507170"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=507165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=507165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=507165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}