{"id":540147,"date":"2023-06-28T21:00:41","date_gmt":"2023-06-28T21:00:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=540147"},"modified":"2024-06-11T14:38:07","modified_gmt":"2024-06-11T14:38:07","slug":"bnb-market-cap-down-by-25-in-june-amidst-binance-regulatory-pressure","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bnb-market-cap-down-by-25-in-june-amidst-binance-regulatory-pressure\/","title":{"rendered":"BNB Market Cap Down By 25% In June Amidst Binance Regulatory Pressure"},"content":{"rendered":"

BNB, a native token of the Binance exchange, has seen a massive decline in its market shares following the global regulatory pressure on the trading platform.\u00a0<\/span><\/p>\n

Binance began experiencing regulatory troubles on June 5, when the United States Securities and Exchange Commission (SEC) filed a lawsuit<\/a> against the exchange on the allegations of fraud and offering of unregistered securities, among others, and this has affected the performance of the cryptocurrency.<\/span><\/p>\n

BNB Loses $10 Billion In Market Cap<\/span><\/h2>\n

Following the news of the SEC’s charges against Binance, its native cryptocurrency BNB, whose market value is tied to the broader performance of the trading platform, saw its market cap drop by 8%, shedding over $4 billion in a single day.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Correlation To Gold, Silver Drops To Cyclical Lows: Glassnode<\/a><\/p>\n

Asides from its struggles on US soil, Binance’s operations have also suffered some regulatory setbacks in parts of Europe in the last few weeks.\u00a0<\/span><\/p>\n

On June 17, the exchange announced the shutdown<\/a> of its market in the Netherlands due to the inability to obtain a virtual asset service provider (VASP) from the Dutch authorities.\u00a0<\/span><\/p>\n

Furthermore, French authorities commenced an investigation<\/a> into Binance France on the basis of alleged money laundering and illegal canvassing of clients.\u00a0<\/span><\/p>\n

Belgium became the latest country to join this growing list of disgruntled nations after its Financial Services and Markets Authorities (FSMA) issued an order<\/a> directing Binance to cease its operations in the country immediately.<\/span><\/p>\n

Over the last 30 days, all these events have culminated in BNB losing over $12 billion in market shares, representing a staggering 25% decline in the token\u2019s market cap.<\/span><\/p>\n

Moreover, the Binance Coin has also seen its market price fall from $316.56 to trade as low as $223.88 during this period.<\/span><\/p>\n

Although BNB did experience some resurgence in the general market uptrend that occurred last week, it has proven insignificant in turning around the token\u2019s fortunes.\u00a0<\/span><\/p>\n

According to data from CoinMarketCap, the coin is exchanging hands at $234.11, with a 2.25% decline in the last 24 hours. Meanwhile, the token market cap now stands at $36 billion, retaining its position as the fourth biggest cryptocurrency in the market.\u00a0<\/span><\/p>\n

\"BNB\"<\/p>\n

BNB Market Cap Valued At $36.17 Billion On The 1-Minute Chart | Source: BNB Chart On Tradingview.com<\/a><\/pre>\n
What Next For The Cryptocurrency?<\/span><\/h2>\n
Following BNB’s recent negative price movements coupled with its status in the crypto space, there are bound to be high levels of speculation on the token’s next movements.\u00a0<\/span><\/p>\n
According to price prediction site Coincodex<\/a>, investors’ sentiments surrounding BNB remain bearish, reflecting the present concerns over the token\u2019s fate amidst Binance growing regulatory troubles.\u00a0<\/span><\/p>\n
Related Reading: Whale Trades LINK And BNB For PEPE And ETH In High-Value Transaction<\/a><\/p>\n
Coincodex is predicting BNB to maintain its bearish trend, for now, to trade at $226.88 in 5 days, representing a 2.43% gain on the current market price.<\/span><\/p>\n
However, Coincodex is also backing BNB to embark on a market recovery soon as they predict the token to trade by $274.08 in the next 30 days.\u00a0<\/span><\/p>\n
That said, predictions are not considered investment advice, and investors are admonished to do their due diligence before engaging the market.\u00a0<\/span><\/p>\n
Featured Image: Forbes, chart from Tradingview.com.<\/div>\n","protected":false},"excerpt":{"rendered":"
BNB, a native token of the Binance exchange, has seen a massive decline in its market shares following the global regulatory pressure on the trading platform.\u00a0 Binance began experiencing regulatory troubles on June 5, when the United States Securities and Exchange Commission (SEC) filed a lawsuit against the exchange on the allegations of fraud and offering of unregistered securities, among others, and this has affected the performance of the cryptocurrency. BNB Loses $10 Billion In Market Cap Following the news of the SEC’s charges against Binance, its native cryptocurrency BNB, whose market value is tied to the broader performance of the trading platform, saw its market cap drop by 8%, shedding over $4 billion in a single day.\u00a0 Related Reading: Bitcoin Correlation To Gold, Silver Drops To Cyclical Lows: Glassnode Asides from its struggles on US soil, Binance’s operations have also suffered some regulatory setbacks in parts of Europe in the last few weeks.\u00a0 On June 17, the exchange announced the shutdown of its market in the Netherlands due to the inability to obtain a virtual asset service provider (VASP) from the Dutch authorities.\u00a0 Furthermore, French authorities commenced an investigation into Binance France on the basis of alleged money laundering and illegal canvassing of clients.\u00a0 Belgium became the latest country to join this growing list of disgruntled nations after its Financial Services and Markets Authorities (FSMA) issued an order directing Binance to cease its operations in the country immediately. Over the last 30 days, all these events have culminated in BNB losing over $12 billion in market shares, representing a staggering 25% decline in the token\u2019s market cap. Moreover, the Binance Coin has also seen its market price fall from $316.56 to trade as low as $223.88 during this period. Although BNB did experience some resurgence in the general market uptrend that occurred last week, it has proven insignificant in turning around the token\u2019s fortunes.\u00a0 According to data from CoinMarketCap, the coin is exchanging hands at $234.11, with a 2.25% decline in the last 24 hours. Meanwhile, the token market cap now stands at $36 billion, retaining its position as the fourth biggest cryptocurrency in the market.\u00a0 BNB Market Cap Valued At $36.17 Billion On The 1-Minute Chart | Source: BNB Chart On Tradingview.com What Next For The Cryptocurrency? Following BNB’s recent negative price movements coupled with its status in the crypto space, there are bound to be high levels of speculation on the token’s next movements.\u00a0 According to price prediction site Coincodex, investors’ sentiments surrounding BNB remain bearish, reflecting the present concerns over the token\u2019s fate amidst Binance growing regulatory troubles.\u00a0 Related Reading: Whale Trades LINK And BNB For PEPE And ETH In High-Value Transaction Coincodex is predicting BNB to maintain its bearish trend, for now, to trade at $226.88 in 5 days, representing a 2.43% gain on the current market price. However, Coincodex is also backing BNB to embark on a market recovery soon as they predict the token to trade by $274.08 in the next 30 days.\u00a0 That said, predictions are not considered investment advice, and investors are admonished to do their due diligence before engaging the market.\u00a0 Featured Image: Forbes, chart from Tradingview.com.<\/p>\n","protected":false},"author":581,"featured_media":540165,"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":[10768,13291,11427,3799],"class_list":["post-540147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-binance-coin","tag-bnb","tag-sec"],"acf":[],"yoast_head":"\nBNB Market Cap Down By 25% In June Amidst Binance Regulatory Pressure<\/title>\n<meta name=\"description\" content=\"Binance Coin (BNB) 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.","sameAs":["https:\/\/www.linkedin.com\/in\/semilore-faleti-7a9046218","https:\/\/x.com\/https:\/\/twitter.com\/SemiloreFaleti"],"url":"https:\/\/uniquehot.com\/author\/semilorefaleti\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"BNB Market Cap Down By 25% In June Amidst Binance Regulatory Pressure","url":"http:\/\/uniquehot.com\/news\/bnb-market-cap-down-by-25-in-june-amidst-binance-regulatory-pressure\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bnb-market-cap-down-by-25-in-june-amidst-binance-regulatory-pressure\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/1x-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/1x-1.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Semilore Faleti"}],"creator":["Semilore Faleti"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","binance coin","bnb","sec"],"dateCreated":"2023-06-28T21:00:41Z","datePublished":"2023-06-28T21:00:41Z","dateModified":"2024-06-11T14:38:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"BNB Market Cap Down By 25% In June Amidst Binance Regulatory Pressure\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bnb-market-cap-down-by-25-in-june-amidst-binance-regulatory-pressure\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bnb-market-cap-down-by-25-in-june-amidst-binance-regulatory-pressure\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/1x-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/1x-1.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Semilore Faleti\"}],\"creator\":[\"Semilore Faleti\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"binance coin\",\"bnb\",\"sec\"],\"dateCreated\":\"2023-06-28T21:00:41Z\",\"datePublished\":\"2023-06-28T21:00:41Z\",\"dateModified\":\"2024-06-11T14:38:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/1x-1.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/540147"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/581"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=540147"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/540147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/540165"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=540147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=540147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=540147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}