Recovery Mode Activated: BNB Coin Sets a New Benchmark



The BNB coin is set on its recovery as the crypto market rallies after Musk’s Twitter buyout

The cryptocurrency market has had a wild ride this year. The most critical digital assets like Bitcoin, Ethereum, and Solana have been plummeting vigorously creating a storm of losses for the investment community. However, presently the crypto industry is witnessing some essential developments. The market’s recovery mode is in full swing and has pushed several major cryptocurrencies to show minor improvements in their price actions. One of these cryptocurrencies is the BNB coin.

According to reports, the BNB coin has finally surpassed its US$300 resistance after its sudden price surge over the past week. Since, its first price hike, the token has had a smooth sail and it continues to rise, at the time of writing this article. Experts believe that the primary reason behind this crypto price rally is Elon’s Twitter buyout which caused the Dogecoin token to surge dramatically. In simple terms, the year 2022 might have been harsh for cryptocurrencies, but October has emerged as a blessing for cryptocurrencies.

Based on TradingView’s data, the BNB/BTC exchange rate has temporarily exceeded 0.15 BTC tokens. The token’s value has increased in value by almost 10% over the past couple of days and its strong performance has attracted the attention of several investors who have been looking for profits for the past several months. Besides this, when the news broke out about Binance investing US$500 million in Musk’s acquisition also caused the price of the token to rally. It is only a matter of time before the BNB coin attains its previous position in the crypto market.


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