Reason behind the BNB coin rally in a day!
The swift recovery comes after a market-wide correction on April 18, during which major cryptocurrencies including Bitcoin (BTC) and Ether (ETH) saw a sharp decline. ETH price, for instance, declined from $2,400 to as low as $1,900 in a sudden pullback as Bitcoin plunged below the $60,000 support level to as low as $52,000. The market saw a steep pullback in a short period because the futures market was extremely overheated. Over $10 billion worth of cryptocurrency positions were liquidated on a single day, with Bitcoin accounting for over $5 billion of it. Since the drop was more technical than fundamental, and it was a cascade of liquidations that caused the pullback, the market pared most of the losses relatively quickly It was also evident that the futures market led the correction because the price of major cryptocurrencies was trading lower in the futures market than the spot market. BNB fundamentals remain strong After...