Binance Token Snaps Losing Streak Spurred by Worries Over Crypto Exchange
- Native token of Changpeng Zhao’s ecosystem up 4% in two days
- Bankruptcy of rival FTX eroded confidence in crypto platforms
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The native token of crypto exchange Binance Holdings Ltd. snapped a prolonged slide that was sparked in part by concerns about outflows from the world’s largest digital-asset trading platform.
Binance Coin — or BNB — is up about 4% in the past two days, ending a seven-day losing streak through Saturday that was the longest since October. Bitcoin and a gauge of the top 100 tokens treaded water over Sunday and Monday.