Binance Coin (BNB) Forms Bearish Pattern, But Fundamentals Look Strong

In the wake of FTX’s collapse, many eyes focused on the now undisputed largest cryptocurrency exchange in the world, Binance. Due to an opaque proof of reserves, the withdrawal of accounting firm Mazars, and a bank run on the exchange, the Binance Coin (BNB) suffered a temporary loss of trust and excessive price losses.
Slowly and gradually, however, investors seem to be regaining confidence in Binance. The BNB price has risen 9.3% over the last seven days, reaching $301 at press time.
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