{"id":430940,"date":"2023-08-18T10:56:58","date_gmt":"2023-08-18T10:56:58","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=430940"},"modified":"2023-08-18T10:57:12","modified_gmt":"2023-08-18T10:57:12","slug":"binance-coin-falls-5-market-follower-again","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/binance-coin-falls-5-market-follower-again","title":{"rendered":"Binance Coin Falls 5% \u2013 Market Follower Again?"},"content":{"rendered":"

Binance Coin has dropped by more than 5% in the last 24 hours, continuing its downturn that began on August 16. Is it becoming a market follower again, or is there a critical point in the way that could cause it to rebound?<\/p>\n\n\n\n

Meanwhile, Chimpzee is a green crypto that has captured the community’s interest.<\/p>\n\n\n\n

Binance Coin drops by 5% in 24 Hours<\/h2>\n\n\n\n

Binance Coin<\/a> has dropped by 5% in the last 24 hours, with the candle chart showing multiple reds forming for three consecutive days.<\/p>\n\n\n

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\"Binance<\/figure><\/div>\n\n\n

At 5:07 am EST, the token traded around the $219 mark. The daily price drop has dipped Binance Coin’s market capitalization to $33.6 billion. However, there has been a 74% increase in the token’s daily trading volume, currently at $868 million.<\/p>\n\n\n\n

Why is the Binance Coin Dropping?<\/h2>\n\n\n\n

Binance has been on the receiving end of the regulatory blowback since Q2 of 2023. It is facing court cases from the US Securities and Exchange Commission and the Commodity Futures Trading Commission, both have alleged that it has operated on US soil without any license.<\/p>\n\n\n\n

However, these events haven’t had a significant negative impact on the BNB coin price, as the community is also not with the current way the regulatory bodies have been tackling the issue of crypto regulations. That said, other multiple news have resurfaced that could fuel BNB’s current downtrend.<\/p>\n\n\n\n

Bitcoin Dropping to $26k<\/h3>\n\n\n\n

Bitcoin’s recent drop has also impacted Binance Coin. After struggling to keep its head above the $29k level, the world’s biggest crypto has dropped to $26k.<\/p>\n\n\n\n

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What happened in crypto in the last 24h?

In case you just woke up and saw all the chaos, here is a recap.

(1\/6) 🧵 pic.twitter.com\/wiaJK3Itk4<\/a><\/p>— Inmortal (@inmortalcrypto) August 18, 2023<\/a><\/blockquote>