How High Can Binance Coin Trade This Week?

Binance
coin
is
one
of
the
most
promising
cryptocurrencies
existing
in
the
crypto
realm.
The
token
has
lately
been
embroiled
in
a
legal
war
with
the
US
SEC
in
which
the
token
has
secured
a
major
win.
The
federal
court
has
declared
the
secondary
sales
of
BNB
as
fair,
dubbing
the
token
as
not
a
security.

In
this
wake,
the
token
briefly
surged
6%
before
falling
down
0.85%
in
the
last
24
hours.
The
token
is
presently
trading
at
a
price
threshold
of
$506.

Also
Read:
Solana
Weekly
Forecast:
How
High
Can
SOL
Rise
This
Week?

BNB:
Court
Ruling
Supports
Binance
Coin

In
a
landmark
court
proceeding,
the
US
federal
court
has
dubbed
BNB
sales
as
“not
securities”,
ushering
in
a
wave
of
new
price
highs
for
BNB.
The
US
court
went
a
mile
ahead
to
state
a
novel
verdict,
adding
how
the
cryptocurrency
and
secondary
sales
of
BNB
tokens,
both
do
not
constitute
securities.
The
verdict
is
currently
being
dubbed
historic,
with
many
labeling
the
decision
as
a
“landmark”
proceeding
in
the
budding
realm
of
crypto.

The
SEC
had
earlier
accused
60
cryptocurrencies
of
being
securities
and
had
later
added
BNB
to
the
list
in
June
2023.
The
lawsuit
against
Binance
entailed
heavy
accusations
including
labeling
Changpeng
Zhao
as
being
involved
in
dubious
usage
of
consumer
funds.

However,
the
new
ruling
supports
BNB,
removing
the
security
stigma
that
was
plaguing
the
crypto
token
as
of
late.

ADVERTISEMENT

“The
court
held
that
the
SEC
failed
to
plead
that
purchaser
in
secondary
market
sales
acquired
BNB
with
an
expectation
of
profits,
rather
than
for
other
uses,
which
is
a
key
criterion
for
passing
the
Howey
test
(a
legal
framework
outlined
by
the
Supreme
Court
to
determine
whether
a
transaction
qualifies
as
an
investment
contract”

BNB
Weekend
Forecast:
How
High
Can
Binance
Coin
Trade
Now?

With
the
new
ruling
in
place,
consumer
confidence
within
the
crypto
sphere
is
now
pivoting
towards
BNB.
The
crypto
token
surged
6%
on
July
6th,
before
plummeting
back
to
trade
at
the
$506
price
level.

According
to
CoinCodex,
the
token
may
surge
and
spike
to
trade
at
$ 632.57
by
the
end
of
July
2024.

“According
to
our
current
Binance
Coin
price
prediction,
the
price
of
Binance
Coin
is
predicted
to
rise
by
28.47%
and
reach
$ 632.57
by
August
7,
2024.
Per
our
technical
indicators,
the
current
sentiment
is
Bearish
while
the
Fear
&
Greed
Index
is
showing
29
(Fear).
Binance
Coin
recorded
13/30
(43%)
green
days
with
7.35%
price
volatility
over
the
last
30
days.”

For
this
week,
the
token
may
adopt
a
rigorous
price
pace.
BNB
is
expected
to
hit
$546
by
July
15,
2024

Also
Read:
Dogwifhat:
How
High
Can
WIF
Trade
This
Week?

“The
Binance
Coin
price
forecast
for
the
next
30
days.
It
is
a
projection
based
on
the
positive/negative
trends
in
the
past
30
days.
Based
on
these
Binance
Coin
projections.
BNB
will
be
changing
hands
at
$ 546.44
on
Jul
15,
2024,
gaining
10.97%
in
the
process.”