{"id":20529,"date":"2026-01-23T17:22:04","date_gmt":"2026-01-23T17:22:04","guid":{"rendered":"https:\/\/bitunikey.com\/news\/binance-coin-price-forms-a-risky-pattern-as-grayscale-files-s-1-for-bnb-etf\/"},"modified":"2026-01-23T17:22:11","modified_gmt":"2026-01-23T17:22:11","slug":"binance-coin-price-forms-a-risky-pattern-as-grayscale-files-s-1-for-bnb-etf","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/binance-coin-price-forms-a-risky-pattern-as-grayscale-files-s-1-for-bnb-etf\/","title":{"rendered":"Binance Coin price forms a risky pattern as Grayscale files S-1 for BNB ETF"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Binance Coin price remained in a narrow range on Friday despite major progress on the listing of the first BNB ETF by Grayscale.<\/p>\n<div id=\"cn-block-summary-block_66c2c537004097625dee9dfb643bfd67\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Binance Coin price has formed a bearish flag pointing to more downside.<\/li>\n<li>Grayscale filed its S1 for a spot BNB ETF with the Securities and Exchange Commission.<\/li>\n<li>The SEC will likely approve the fund as it has already approved similar ETFs.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Binance Coin (BNB) token was trading at $8877, a range it has remained at in the past three days. It has dropped by over 7% from its highest level this year.\u00a0<\/p>\n<p>Grayscale, a top financial services company with over $35 billion in assets under management, filed its S-1 for the spot BNB ETF with the Securities and Exchange Commission. It joins VanEck, which also filed for the spot ETF a few months ago.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Many fund managers have avoided BNB in their filings because it is associated with Binance, a company that pleaded guilty in 2024. Changpeng Zhao, who is originally from China, served time in a US prison. Donald Trump pardoned him last year.<\/p>\n<p>The SEC has approved ETFs of similar cryptocurrencies. For example, the spot XRP ETFs have accumulated over $1 billion in inflows in the past few months. Solana ETFs have gained over $850 million in inflows.\u00a0<\/p>\n<p>BNB ETF will likely attract substantial inflows from investors. It is one of the biggest cryptocurrencies with a market cap of over $80 billion. It is a highly deflationary token as it burns coins worth over $4 bilion a year, while BSC is one of the most active chains. For example, data compiled by <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/dexs\/chains\" target=\"_blank\" rel=\"nofollow\">DeFi Llama<\/a> shows that the network handled over $44 billion in volume in the last 30 days.<\/p>\n<p>Nansen data shows that the network handled over 434 million transactions in the last 30 days and made over $17.6 million in fees.<\/p>\n<h2 class=\"wp-block-heading\">Binance Coin price technical analysis\u00a0<\/h2>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">BNB price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily chart shows that the BNB price has retreated in the past few months. It has dropped from a high of $1,374 in October last year to the current $890.\u00a0<\/p>\n<p>The coin has now formed an ascending channel, which is part of the bearish flag pattern. This pattern often leads to more downside.<\/p>\n<p>Binance Coin price has moved to the ultimate support level of the Murrey Math Lines tool. It also remains below the 50-day and 100-day moving averages. Therefore, the coin will likely have a bearish breakout, potentially to the extreme oversold level of $812.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Binance Coin price remained in a narrow range on Friday despite major progress on the listing of the first BNB ETF by Grayscale. Summary Binance Coin price has formed a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-20529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=20529"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20529\/revisions"}],"predecessor-version":[{"id":20530,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20529\/revisions\/20530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2662"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=20529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=20529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=20529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}