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BNB trading volumes have experienced a mild increase of 11.5% compared to the past day and currently sit at $1.8 billion. Meanwhile, DOT’s daily volumes have gone up 54% as buyers have shown up to scoop up the asset ahead of Trump’s crypto summit.
The President is scheduled to meet with top executives from crypto exchanges, blockchain companies, and experts in the field who will share their views about how America could be turned into the “world’s crypto capital.”
Meanwhile, employment data came in below expected levels as the unemployment rate for last month rose by 4.1% while 151,000 new job positions in the private sector were created in February compared to 160,000 that analysts forecasted for this period.
BNB Bounces Off $550 But Hourly Chart Shows Lower High
Despite today’s recovery, BNB has gone down by 14.5% since the year started. The price chart shows that the downtrend accelerated in late February and has pushed BNB to retest a critical support area in the past few days.
Thus far, BNB has bounced off the $550 level and momentum indicators have picked up steam ahead of Trump’s crypto event. The President’s crypto reserve announcement was largely irrelevant to BNB as it was never considered a plausible candidate.
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