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Binance Coin Price Prediction – Can BNB Reach an All-Time High Soon?

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cryptonews.com

Binance Coin price is up slightly over 10% this week, following a mid-week crypto relief rally. The native exchange token is the fourth-largest cryptocurrency, boasting $48 billion in market capitalization.Over $1 billion in volume has been traded across the board in 24 hours.

BNB dodders at $296 at the time of writing while facing growing resistance at $310. A break and hold above this level could quickly propel BNB above $350 and possibly pave the way for gains to $400.Binance CEO Changpeng Zhao (CZ) announced another $1 billion worth of BUSD for the recently crafted Industry Recovery Fund (IRI).

Initially, the exchange led a $1 billion initiative open to other investors.Aptos Labs and Jump Crypto were among the first companies to express interest in the Binance-led IRI.

The IRI now has $2 billion to start its operations after CZ confirmed an additional $1 billion on Friday. The fund will focus on buying distressed crypto assets in the wake of the FTX collapse.PeckShieldAlert, a platform that tracks the movement of large sums of money in crypto, confirmed via a post on Twitter that the “Binance 7” address, dedicated to the IRI, has over a billion tokens.Binance Coin price downtrend has persisted since the beginning of the year.

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