• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

XRP trading volume soars as new ATH attracts deepfake scam targeting investors

2025-07-18

We Are So BACK!!!

2025-07-18

Bitcoin Holders…Genius Bill Passed! | Altcoin Season Continues

2025-07-17

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09

    Crypto Risk Management Strategies for Trading (2025)

    2025-07-07
  • Videos

    We Are So BACK!!!

    2025-07-18

    Bitcoin Holders…Genius Bill Passed! | Altcoin Season Continues

    2025-07-17

    HYPE or HYPEr-Bubble? 🤯 Hyperliquid Analysis You NEED to See 📉📈

    2025-07-17

    BlackRock’s New Globalization Is A TRAP!! Watch Out For This!

    2025-07-17

    How To Get Rekt By MSTY

    2025-07-17
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Altcoins»BNB gets Binance’s nod for safety amid ‘unstablecoins’ frenzy- Here’s how
Altcoins

BNB gets Binance’s nod for safety amid ‘unstablecoins’ frenzy- Here’s how

2023-03-13No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
  • Binance altered storing the industry recovery fund as stablecoins and moved it to BNB, ETH, and BTC.
  • The crypto community believes that the decision could set off buying pressure.

Binance CEO Changpeng Zhao announced on 13 March that the exchange would stop keeping the rest of the $1 billion recovery fund in stablecoin.

CZ, as he is popularly called, confirmed that the fund had been kept in BUSD. But the ill-fated events that befell stablecoins recently have made it necessary to convert to crypto-native Binance Coin [BNB], Ethereum [ETH], and Bitcoin [BTC].

Given the changes in stable coins and banks, #Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto, including #BTC, #BNB and ETH. Some fund movements will occur on-chain. Transparency.

— CZ 🔶 Binance (@cz_binance) March 13, 2023


How much are 1,10,100 BNBs worth today?


In November 2022, Binance announced a recovery fund after the FTX contagion revealed that crypto firms were not void of collapse. The exchange considered the fund helpful so as to bail out distressed crypto assets and projects in their time of need.

Switching the store of value ends in…

However, its Paxos-issued stablecoin got the regulatory hammer and has now been forced to change the storage location. And keeping in another stablecoin or a “trusted” bank could pose even more risk because of the turmoil around these entities.

Before the disclosure, the BNB value had increased by 9.28% in the last 24 hours. This increase, accompanied by an all-around market revival helped the coin regain the $300 region. But is BNB capable of rejecting bearish desire in the short term?

See also  'Bitcoin bubble may end up helping BTC' go north, here's how

Indications from the daily chart showed that BNB was not entirely in a safety net because of the Directional Movement Index (DMI) signs. At the time of writing, the -DMI (red) was 22.01 while the +DMI (green) was 27.64.

BNB price action

Source: TradingView

Although the greens seemed higher, the Average Directional Index (ADX) did not confirm a sustained movement yet. At press time, the ADX (yellow) was 19.48. Since this indicator value was below 25, it meant that the BNB trend was not extremely strong.

However, the On-Balance-Volume (OBV) seemed to be closing higher than the previous days. If maintained, it could carve out a bullish outcome for BNB depending on the investors’ sentiment.

Soaring on the BNB chain

Further, the strife that hit the crypto topography last week could not hinder the BNB chain from registering landmarks with activities therein.

According to its key highlight report, its Weekly Active Users (WAU) summed up to 3.98 million.


Read Binance Coin’s [BNB] Price Prediction 2023-2024


The metric measures the number of users who make the most out of their crypto assets by trading. The chain was also able to meet up the WAU number with an average daily transaction of 3.41 million.

BNB chain metrics

Source: BNB Chain

Additionally, many comments from the CZ revelation aligned with a possible bullish market due to the exchange action. Notably, a few people in the crypto community believed that buying pressure would soon resume. And in response, could catapult the market in the upward direction. Consider this tweet, for instance. 

.@cz_binance has announced to convert $BUSD in the Industry Recovery Fund to $BTC, $ETH, and $BNB.

With nearly $1B untapped, this means the market will have extreme buying pressure soon.

Bullish? pic.twitter.com/XvYHfrQSFu

— The Data Nerd (@OnchainDataNerd) March 13, 2023

Binances BNB Frenzy Heres nod Safety unstablecoins
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Price All-Time High! Altcoin Frenzy: PENGU, PUMP, BONK & More!

2025-07-14

Here’s Exactly When to Grab the Next Wave of Crypto Altcoins

2025-07-12

Pump.Fun: The Most Hated ICO Could Mint Millionaires: Here’s Why!

2025-07-08

Bitcoin To $1M? Here’s WHY!

2025-07-02
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Altcoins

EOS traders can finally breathe a sigh of relief as…

2023-07-03

EOS price has seen some growth in the last week amidst heavy accumulation. However, general…

Videos

Why XRP and Bitcoin are PUMPING! | Crypto Market Explodes

2025-01-15

Bitcoin, Ripple (XRP), Solana and many other crypto altcoins are heading higher today…why? Crypto.com Exchange…

Scams

Apple iOS Trojan Allows Hackers To Access Bank Accounts, Security Researchers Warn – Here’s How It Works

2024-02-25

Security researchers say they’re tracking a new Apple iOS trojan that’s designed to give criminals…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

XRP trading volume soars as new ATH attracts deepfake scam targeting investors

2025-07-18

We Are So BACK!!!

2025-07-18

Bitcoin Holders…Genius Bill Passed! | Altcoin Season Continues

2025-07-17

HYPE or HYPEr-Bubble? 🤯 Hyperliquid Analysis You NEED to See 📉📈

2025-07-17
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 117,578.50
ethereum
Ethereum (ETH) $ 3,549.62
xrp
XRP (XRP) $ 3.39
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 728.05
solana
Solana (SOL) $ 176.41
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.23863
staked-ether
Lido Staked Ether (STETH) $ 3,536.40
tron
TRON (TRX) $ 0.318741
bitcoin
Bitcoin (BTC) $ 117,578.50
ethereum
Ethereum (ETH) $ 3,549.62
xrp
XRP (XRP) $ 3.39
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 728.05
solana
Solana (SOL) $ 176.41
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.23863
staked-ether
Lido Staked Ether (STETH) $ 3,536.40
tron
TRON (TRX) $ 0.318741