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BNB Dumps 6% As CFTC Sues Binance And CEO For Non-Compliance

BNB, the native currency of the Binance ecosystem, has dropped 6% in the past 24 hours, underperforming the broader cryptocurrency market and trailing Bitcoin, Ethereum, and others. The coin is now trading at $309, down 6% in the past 24 hours, and has broken below a critical support line visible in the BNBUSDT daily chart. Technical indicators, especially moving averages, are "bearish" within the last six to 24 hours. While BNB remains bullish for longer time frames, it might be negatively impacted in the days ahead as the US Commodity Futures Trading Commission is suing Binance and CEO Changpeng Zhao for violating trading laws and giving access to citizens.

(By Dalmas Ngetich)

BNB BNB $696.89
+8.74%
CFTC Binance
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