Why Is BNB So Resilient Amid the Crypto Market Pullback?
BNB extended its gains on Wednesday even as other top digital assets notched significant losses, with an analyst attributing its recent upswing to its usefulness and capital structure in an interview with Decrypt. .
Ethereum has sunk 2.4%, and XRP is down 1.2% in the past day. Bitcoin was roughly flat after spending most of Wednesday morning in negative territory. But BNB was recently trading 0.8% higher over the past 24 hours to change hands for $1,316.38.
“BNB has remained notably resilient amid a broader market pullback, driven by the combined effects of ecosystem utility, tokenomics, and capital structure,” Bitunix analyst Dean Chen told Decrypt. “As the native token of Binance and the core gas asset of BNB Chain,…
