{"id":57444,"date":"2023-08-23T05:54:50","date_gmt":"2023-08-23T09:54:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=57444"},"modified":"2023-08-23T05:54:53","modified_gmt":"2023-08-23T09:54:53","slug":"bnb-surges-3-from-one-year-low-amid-binance-probe","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bnb-surges-3-from-one-year-low-amid-binance-probe\/","title":{"rendered":"BNB Surges 3% from One-Year Low Amid Binance Probe"},"content":{"rendered":"\n

BNB, the native token of Binance, the world\u2019s largest crypto exchange, has recovered from a one-year low of $204 to $216, despite facing a new investigation by the US Department of Justice (DoJ)<\/a> over alleged sanctions violations in Russia.<\/p>\n\n\n\n

\"BNB<\/figure>\n\n\n\n

BNB<\/a> has been under heavy selling pressure due to the ongoing crypto market slump and the regulatory troubles that Binance is facing.<\/p>\n\n\n\n

US DoJ investigates Binance over Russia sanctions<\/h3>\n\n\n\n

According to a recent report, the US DoJ has launched another probe into Binance for allegedly violating the US sanctions on Russia. <\/p>\n\n\n\n

The DoJ claims that Binance resumed its operations in Russia after the US imposed sanctions on the country in 2022 due to its invasion of Ukraine.<\/p>\n\n\n\n

The report\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> cites data compiled externally and shared by the WSJ, which shows that Binance has a substantial trading volume in Russian Ruble. <\/p>\n\n\n\n

The report also alleges that Binance uses intermediary layers to enable customers to move funds from sanctioned banks in Russia to Binance balances. <\/p>\n\n\n\n

Moreover, Binance supports peer-to-peer trading activities that involve banks that the West already blacklists.<\/p>\n\n\n\n

Binance, through a spokesperson, defended its position, saying that the exchange \u201cfollows the global rules and enforces sanctions\u2026\u201d and that it has \u201cno relationship with any banks whatsoever, in Russia or elsewhere.\u201d<\/em><\/p>\n\n\n\n

BNB recovers from support at $204<\/h3>\n\n\n\n

Meanwhile, BNB has shown signs of a remarkable bullish comeback, rising 3%<\/strong> to $216. <\/strong>This recovery from support at $204<\/strong> could be attributed to Binance Pay\u2019s launch<\/a> in Brazil to support contactless crypto payments.<\/p>\n\n\n\n

\"BNB
BNB\/USD price chart<\/em> | Tradingview<\/use><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

Binance Pay supports over 70 cryptocurrencies,<\/strong> including BNB, ETH, and BTC, <\/strong>and features zero user transaction fees. <\/p>\n\n\n\n

The cost-effective payment experience, now available in Brazil, allows merchants to choose whether to receive money in the native Brazilian Real or cryptocurrency.<\/p>\n\n\n\n

The four-hour chart shows a recovery building momentum within a V-shaped pattern. Indicators like the Moving Average Convergence Divergence (MACD)<\/a> have a positive outlook, which could help bulls sustain the recovery.<\/p>\n\n\n\n

Further validating the bullish outlook is the Relative Strength Index (RSI), which is currently in the neutral area, although it had dived into the oversold region earlier this week. <\/p>\n\n\n\n

Holding onto higher support at $215<\/strong> would imply that bulls have more control over the direction BNB takes next.<\/p>\n\n\n\n

The Fibonacci retracement levels applied to the chart hint at a possible 61.8% rebound from support at $204 <\/strong>to $230.<\/strong> However, traders may decide to start booking profits at the 38.2%<\/strong> Fibo at $220.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

BNB, the native token of Binance, the world\u2019s largest crypto exchange, has recovered from a one-year low of $204 to $216, despite facing a new investigation by the US Department of Justice (DoJ) over alleged sanctions violations in Russia. BNB has been under heavy selling pressure due to the ongoing crypto market slump and the […]<\/p>\n","protected":false},"author":44,"featured_media":57446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[12659,173,16105],"class_list":["post-57444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-binance-pay","tag-bnb","tag-bnb-price"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/bnb-price.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/57444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=57444"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/57444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/57446"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=57444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=57444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=57444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}