BNB outperforming market, boosted by major partnership news
Binance Coin (BNB) reacted with a rapid rise in listings to the news that Binance has entered into a strategic partnership with crypto payment provider TripleA. At present, the coin, which had been trading underwater for a long time after scandalous news about the SEC investigation and accusations of aiding money laundering, has seen a strong increase of 5%. .
The boost came from the news that Binance, which for a long time was looking for a gateway to the global payment systems markets, found it in TripleA, a Singapore-based e-commerce company, which has connections to a user base of more than 300 million people through its intermediaries.
The news apparently inspired investors to buy so much that it lifted BNB above the all-important level of $295 per token. This is the same level the coin was trying to but couldn’t reach again in recent days, breaking it at the bad news.
Nevertheless, after breaking through an important level, the price of BNB did not manage to hold onto it and rushed back under it. In traders’ terms, there was a false-break. It is not excluded that Binance Coin (#BNB) will continue to test $295, especially when the investigations have calmed down a bit and are safely forgotten by most market participants.
It should also be noted that the surge in quotes came amid the fall of the rest of the cryptocurrencies after news broke of record high inflation in the US Inflation is a scary thing but, at the moment As of the writing of this article, Binance Coin (BNB) has not avoided the terrible fate and has also fallen back.