BNB Price Surges 15% Amid Crypto Market Recovery and Zhao’s Defense

Binance Coin (BNB) has led the crypto market recovery with a 15% price increase in the last 24 hours, reaching $1,320. Trading volumes rose by 57%, totaling $10.89 billion. BNB's recovery follows the recent market crash related to liquidation events.

Key Highlights

BNB's price surged by 15%, outperforming other cryptocurrencies.
Trading volumes increased by 57%, indicating strong market interest.
Futures open interest for BNB climbed 28% to $2.48 billion, suggesting trader optimism.

Changpeng Zhao's Response

Binance founder Changpeng Zhao defended the exchange against accusations of market manipulation.
CZ emphasized that BNB operates independently without external market maker support.
Affirmed no affiliated entities have traded BNB recently, underscoring market-driven price movements.
Binance announced a $283 million compensation for users affected by recent volatility.