Binance Exchange’s BNB Token Misses Out on $180 Billion Crypto Rally
- BNB coin is window on sentiment toward top crypto exchange
- Binance facing fallout of US guilty pleas, $4.3 billion fine
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Binance’s BNB token has missed out on most of the recent rally in digital assets, a sign of the challenging outlook for the largest crypto exchange after it pleaded guilty to US charges and was hit with a $4.3 billion penalty.
The total market value of cryptocurrencies has jumped some 12% — or $180 billion — in the past seven days, stoked by a Bitcoin surge, CoinGecko data show. Over the same period, BNB added about 1.3% to trade at $231 as of 2:55 p.m. Thursday in New York.