$BNB Prices Slump, $200 Key Support - Time for Holders to Diversify to High-Growth $QUBE?
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The recent bullish surge of Binance Coin (BNB) came to a halt as it reached the $225 resistance point, reinforcing the cryptocurrency's overall bearish trend.
The diminishing network activity on the BNB Chain also indicates a possibility of the coin's value falling below $200 in the eyes of beginner cryptocurrency participants.
In this article, we'll look at the recent developments surrounding one of the best cryptos to invest in, Binance Coin (BNB), and introduce you to Inqubeta ($QUBE) - an exciting alternative to BNB and potentially the best cryptocurrency to buy at the moment.
Binance Coin or BNB recently experienced a significant price slump, dropping to as low as $204.
This decline marked its weakest level since the tumultuous days of June 2022's crypto market crash. Several factors have contributed to this downward spiral.
One of the catalysts for BNB's fall was the Wall Street Journal's report that Binance, the cryptocurrency exchange closely tied to BNB, had allegedly been aiding Russian users in moving money abroad despite international sanctions.
This revelation added to the already mounting legal and regulatory scrutiny surrounding the exchange.
Binance has been facing a global regulatory storm, including a lawsuit from the SEC (US Securities and Exchange Commission) for various securities law violations, such as listing what the agency categorized as unregistered securities.
This mounting pressure has created significant risks for BNB, the fourth-largest cryptocurrency with a market value of $32 billion.
Additionally, rumors have circulated that Binance might be selling Bitcoin (BTC) to support the price of BNB,
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