Binance Coin (BNB) has increased by 33% since yesterday, and CZ, the CEO of Binance, acknowledged it in a recent tweet, typing “BNB.”
Meanwhile, transaction volume on the BNB Chain has risen to levels not seen since over a year ago. XRP, ADA, and SOL have also returned to within 15-20% of their initial losses.
Since yesterday morning, the native cryptocurrency of the Binance exchange, BNB, which is rated fourth on CoinMarketCap, has increased in market value by 33%. At the time of writing, the currency was trading at $305, up from $230.
Prior to that, on April 20, BNB started to fall from $428 to a low of $227 on May 12.
The BNB Chain’s Twitter account said in a tweet that the volume of transactions on the network had risen to record levels last seen in December.
Additionally, it seems that after the LUNA crash, investors rushed to acquire the top ten cryptos, including Bitcoin, ETH, SOL, and BNB.
Another possible reason for the BNB increase in price is CZ Binance’s recent tweet, in which he said that he called the LUNA/UST team and offered them a comprehensive strategy for reversing the fall of both coins.
His suggestion to the team was that the Terra network be restored, and that the extra LUNA minted be burned and the UST peg recovered. He received no answer, so CZ tweeted that he was very disappointed with how they “handled (or did not manage)” the problem.
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