How Binance Coin reacted post CZ’s 500 BNB donation to Thailand, Myanmar
The post How Binance Coin reacted post CZ’s 500 BNB donation to Thailand, Myanmar appeared on BitcoinEthereumNews.com.
Binance co-founder CZ Zhao donated 500 BNB for earthquake relief in Thailand and Myanmar. BNB’s price surged after rejecting the $608 resistance as bullish indicators and liquidation data signaling further gains. The crypto space is evolving fast in playing a key role in disaster manager. In the latest tweet from CryptosRus, Binance co-founder Changpeng Zhao (CZ) was in the headlines after donating 500 BNB to aid relief in Thailand and Myanmar. The donation comes following a 7.7-magnitude earthquake that resulted in 144 deaths. The milestone move not only highlights crypto’s potential to aid in rapid disaster relief but also coincides with a surge in the altcoin price. BNB rejects a key support Following the donation news, BNB rejected the $608 resistance level and saw a 2% surge in price. Binance Coin’s market sentiment has also shifted as most technical and on-chain indicators sparks bullish signals. Notably, the stochastic RSI is in the oversold zone, indicating a potential price reversal to the upside. Also, the altcoin market structure has also changed to an uptrend following the bullish run over the last two weeks, pointing to continued price rallies. Market participants are closely monitoring BNB’s movement in anticipation of further rally if key resistance levels are breached. Source: TradingView Liquidation data suggests further rally Liquidation data adds another bullish layer to BNB’s market outlook. According to AMBCrypto analysis on Coinglass data, approximately $5.87 million worth of BNB is set for liquidation at the $648 price level. This buildup in liquidation pools suggests increased buying pressure, further supporting the rally. Historically, liquidation levels have been used to gauge market sentiment by investors. And in this case, a move towards $648 can trigger more liquidations as a result, propelling price appreciation at a quicker pace. If the bullish trend continues, BNB price can rally…
Filed under: News - @ March 31, 2025 7:13 am