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Binance Coin (BNB), the native utility token of the Binance ecosystem, has been on a remarkable journey in 2024, mirroring the broader crypto markets bullish sentiment. However, after reaching a high of $645, BNB has started to show signs of a potential slowdown, leaving investors questioning whether the recent dip is a temporary setback or the beginning of a more significant correction.

The BNB price has been trading near the $515 level and the 100 simple moving average (4 hours), with immediate resistance around the $520 level.

This key support level will be crucial in determining the short-term direction of the token. If BNB manages to hold above this level, it could potentially restart its rally and target the $550 and $580 resistance levels.

A clear move above the $580 zone could open the doors for a larger increase toward the $600 resistance and beyond.

However, if BNB fails to clear the $520 resistance, it could face further downside pressure. The next major support levels are located at $500, $470, and $430.

A breakdown below these levels could initiate a larger decline, potentially pushing the price towards the $400 or even $350 level.

One of the concerning factors for BNBs short-term outlook is the declining number of transactions on the Binance Chain.

The daily transaction count has been consistently falling in the past few days, suggesting that users may be losing interest in the token or seeking other opportunities with higher potential returns. This decline in transaction volume could be a sign of weakening fundamentals, which may impact the price action in the coming days.

Another red flag for BNB is its high Relative Strength Index (RSI). The RSI is currently well above the overbought threshold, indicating that the asset may be overvalued and due for a correction.

Traders often interpret an RSI at this level as a signal that the buying momentum may be exhausted, and the asset could be due for a downturn as some investors start to sell to realize profits.

Despite these bearish indicators, it is essential to note that BNB has been one of the best-performing altcoins in 2024, with a year-to-date growth of 101% as of March 15.

This impressive performance can be largely attributed to the overall crypto bull run and the increasing popularity of the Binance ecosystem.

As the bull market enters full swing, BNB could potentially inch closer to its all-time high and even surpass the $1,000 mark before the year comes to an end.

However, investors should exercise caution and closely monitor the key support and resistance levels. If BNB fails to defend the crucial $500 support level, it could be an indication that the bears are gaining control, and a more significant correction may be on the horizon.

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Binance Coin BNB $1,000 Dream: Can the Binance Token Defy the Odds in 2024? - Blockonomi

In the diverse landscape of cryptocurrency investments, where strategies and portfolios vary as widely as the tokens themselves, a fascinating trend has emerged among expert investors. Those holding Binance Coin (BNB), a cornerstone of the digital asset world, are increasingly adding Shiba Budz (BUDZ) to their investment mix. This deliberate strategy intertwines the stability and utility of Binance Coin (BNB) with the emerging potential and community-driven appeal of Shiba Budz (BUDZ), offering a glimpse into the nuanced investment approaches of seasoned cryptocurrency enthusiasts.

Binance Coin (BNB): A Beacon of Reliability

Binance Coin (BNB) has long been revered for its robust utility within the expansive Binance ecosystem, offering users reduced fees, access to exclusive token sales, and more. Its strong performance and the pivotal role it plays in one of the worlds leading cryptocurrency exchanges have made BNB a staple in the portfolios of expert investors. Holding Binance Coin (BNB) is often seen as a mark of strategic acumen, balancing the volatility inherent in the crypto market with a token that has demonstrated consistent growth and utility.

Shiba Budz (BUDZ): The New Entrant with a Buzz

Enter Shiba Budz (BUDZ), a new meme coin that has rapidly caught the attention of the crypto community, including those already invested in Binance Coin (BNB). Unlike many ephemeral tokens that rise and fall on the tides of social media trends, Shiba Budz (BUDZ) has carved out its niche by fostering a strong, engaged community and laying down plans for real-world utility and ecosystem development. This approach has made Shiba Budz (BUDZ) an attractive proposition for investors looking for the next token that combines viral appeal with substantive growth potential.

The Synergy Between BNB and BUDZ Holdings

The decision by expert investors to hold both Binance Coin (BNB) and Shiba Budz (BUDZ) is not arbitrary but a calculated move designed to harness the strengths of both tokens. Binance Coin (BNB), with its established track record and integral role in the Binance ecosystem, offers a level of security and stability that is highly valued in the volatile cryptocurrency market. Meanwhile, Shiba Budz (BUDZ) represents a more speculative investment, with the potential for high rewards driven by community engagement and the allure of being part of a growing meme coin phenomenon.

Diversification: The Key to Strategic Crypto Investing

The confluence of Binance Coin (BNB) and Shiba Budz (BUDZ) in the portfolios of expert investors underscores a broader principle in cryptocurrency investment: diversification. By spreading investments across a range of assets, from the more stable and utility-driven like BNB to the high-risk, high-reward potential of BUDZ, investors can mitigate risk while positioning themselves to capitalize on emerging opportunities. This balanced approach is particularly appealing in a market as dynamic and unpredictable as cryptocurrency.

Why Expert Investors Are Betting on BUDZ

Expert investors holding Binance Coin (BNB) are drawn to Shiba Budz (BUDZ) for several reasons. Beyond the diversification strategy, BUDZ offers a unique blend of community-driven excitement and plans for ecosystem expansion that set it apart from other meme coins. Additionally, the narrative and branding surrounding Shiba Budz (BUDZ) have resonated with investors looking to tap into the next wave of crypto tokens that blend viral marketing with tangible utility.

Conclusion: A Calculated Blend of Stability and Potential

The growing trend of expert investors holding both Binance Coin (BNB) and Shiba Budz (BUDZ) highlights a sophisticated approach to cryptocurrency investing that seeks to balance stability with potential. BNB, with its proven track record and foundational role in the Binance exchange, offers a measure of reliability, while BUDZ represents the exciting possibility of significant returns driven by community engagement and market dynamics. Together, these tokens exemplify the dual strategy of leveraging established platforms and engaging with emerging trends, a methodology that continues to define the evolving landscape of cryptocurrency investment.

For more information on the Shiba Budz (BUDZ) Presale: Presale Website: SHIBA BUDZ (BUDZ) Use Promo Code Topshib to get 20% bonus

Join and become a BUDZ member: Telegram: https://t.me/ShibaBudzP2E Twitter: SHIBA BUDZ $BUDZ (@ShibaBudz) / X

Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.

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Expert Investors Holding Binance Coin (BNB) Also Hold Shiba Budz Here's Why - Crypto Reporter

Two Binance executives remain in custody in Nigeria following their court appearance, according to a Reuters report. The two executives from the cryptocurrency exchange are said to be held in detention for two more weeks after making a court appearance this week.

The executives families have said their detention is sustained despite not being charged with a crime. Tigran Gambaryan, Binances head of financial crime compliance and US citizen, is being held along with Nadeem Anjarwalla, the exchanges regional manager in Africa and a British Kenyan. The two flew to Nigeria after the country banned crypto trading websites on February 26th.

Also Read: Binance Tasks Prime Brokers with Identifying U.S. Nationals

Since the end of 2023, cryptocurrency exchange Binance has faced a plethora of legal troubles. Following its fine payment of $4 billion to the United States, it has found further issues regarding operations in a plethora of regions. That culminated in the recent detention of several company executives in Nigeria amid the countrys crypto crackdown.

Now, two of those Biinance executives are reportedly being held in Nigeria, according to Reuters. However, the families of the executives have noted the detention has persisted despite the absence of criminal charges. Both men had appeared in a Federal High Court in Abuja Tuesday, with both lawyers refusing to comment.

Also Read: Binance Coin (BNB) to Reach New All-Time High This Month

At the hearing, the court heard arguments from both sides. The court decided they would resume the session on April 5th, according to the families. The company and the executives were caught in a country-wide crackdown on the industry. Especially as the nation challenged ongoing currency depreciation against the dollar.

Since then, Binance has announced that all transactions and trading in Nigerias naria will cease after March 8th. However, the exchange has not responded to inquiries regarding the executives status in Nigeria.

Lawyers from the Economic and Financial Crimes Commission (FCC) have asked the court for a renewed detention order. The Binacn executives have opposed the request, with the previous one having expired on March 12th. The court has yet to rule on the FCC petition.

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Binance Executives Still in Nigeria Custody After Court Appearance - Watcher Guru

Last updated: March 19, 2024 17:12 EDT | 2 min read

Binance reportedly urged prime brokers like FalconX and Hidden Road to enhance their KYC processes to prevent U.S. investors from accessing its platform, according to a March 19 report by Bloombergciting insider sources.

The ongoing presence of U.S. nationals on the platform has been a contentious issue for authorities, as officially, they are banned.

Prime brokers serve as intermediaries between institutional investors and the market, offering services such as custody, trade execution, risk management, and lending.

Binance has mandated prime brokers like FalconX and Hidden Road to gather comprehensive KYC information from clients, including the geographic locations of their offices, founders, and employees. Additionally, clients are required to have this information verified to ensure its accuracy.

A Binance spokesperson emphasized the exchanges dedication to compliance and transparency in response to inquiries. By openly disclosing its standards for assessing end users who access its platform, Binance is looking to provide clarity to enterprises seeking access to its robust liquidity offerings, they said.

Recent court documents revealed that Binances rapid growth was largely driven by U.S. customers, despite the exchanges lack of registration as a U.S. business, however.

Former CEO Changpeng CZ Zhao and other officials were found to have encouraged high-value U.S. clients to obscure their connections to the U.S. using methods such as VPNs and APIs to access the exchange, according to reports.

The Justice Department also mentioned that Binance employees actively contacted VIP clients in the United States, urging them to provide information indicating that they were not situated within the United States.

The push for enhanced KYC procedures began around the time Binance pleaded guilty to charges brought by U.S. authorities in November. Since the plea, Binance has publicly disclosed its assessment criteria for end users accessing its platform.

In November, Binance and its former CEO, Changpeng Zhao, admitted to violating the Bank Secrecy Act and agreed to a $4.3 billion settlement with the U.S. Department of Justice. The settlement addressed allegations of money laundering, fraud, and sanctions violations stemming from Binances targeting of U.S. customers while failing to comply with U.S. regulations.

Zhao stepped down as CEO as part of the plea deal, with Richard Teng taking over to rebuild the exchanges reputation and market share, especially in the U.S. Following the guilty plea and subsequent enforcement actions, the exchanges U.S. arm had to downsize, cutting over two-thirds of its staff due to a decline in revenue.

Binance Holdings Ltd. has also tightened requirements for listing new digital tokens to bolster investor protections on its platform.

According to Bloomberg, crypto projects seeking to list tokens on Binance now face a substantially longer cliff period during which no coins can be sold. They must also set aside more coins for market makers and make a security deposit. These changes began taking effect late last year.

Binance is fully committed to compliance and has made public how it assesses end users who can access the Binance platform, Binance said in response to inquiries regarding stricter checks by prime brokers. By making its standard transparent, Binance clarifies for enterprises who want to access its market-leading liquidity.

Binance continues to maintain its position as the largest cryptocurrency exchange globally in terms of trading volume,according to data from CoinMarketCap.

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Binance Urges Prime Brokers to Enhance KYC to Avoid U.S. Investors - Cryptonews

Changpeng Zhao took to X on Monday to tease the launch of a new project, but offered little detail beyond revealing that there would be no token.

Zhao teased a new education project on X just weeks ahead of his April sentencing for anti-money laundering and sanctions violations.

Credits: Web Summit

Posted March 18, 2024 at 4:27 pm EST.

Binance cofounder and former CEO Changpeng Zhao, who is currently awaiting sentencing for a series of anti-money laundering violations, announced Monday that he would be launching a new education project, promising details to follow.

With just over a month remaining until his sentencing on April 30, Zhao took to X to tease his plans, stating, Launching a new project. No, no new tokens. Education project. More details soon

Zhao has largely stayed under the radar since November 2023, when he pleaded guilty to violating the Bank Secrecy Act (BSA) for failing to implement an effective anti-money laundering program at Binance. At the same time, the U.S. Department of Justice (DOJ) announced that Binance Holdings Limited had also pleaded guilty to conspiracy to violate the BSA, failing to register as a money transmitting business, and violating the International Emergency Economic Powers Act (IEEPA).

As part of the plea, Binance agreed to a historic settlement, paying $4.3 billion in penalties, the largest such settlement involving a corporate entity and its CEO in DOJ history. Additionally, Binance committed to enhancing its compliance measures and agreed to the appointment of an independent monitor to oversee its operations.

Zhao was also compelled to step down as CEO and remove himself from Binances operations. As part of the conditions for his release on a $175 million bond, he was compelled to surrender his passports and was ordered to remain in the United States pending his sentencing.

However, Binances legal challenges are far from over, as the Securities and Exchange Commission (SEC) launched a separate lawsuit last June against the exchange for alleged violations of securities laws. This litigation is still ongoing.

Read more: SEC Is Still Worried About the Security of Binance.USs Assets, Filings Show

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Binance Cofounder Changpeng Zhao Teases New Educational Project Ahead of Sentencing - Unchained - Unchained