- The co-founder of Binance, CZ Zhao, donated 500 BNB for relief from the earthquake in Thailand and Myanmar.
- The BNB price jumped after rejoining the resistance of $ 608 as bullish indicators and additional signaling data data.
The cryptographic space evolves quickly in the role of a key role in Disaster Manager.
In the latest cryptosrus tweet, the co-founder of Binance, Changpeng Zhao (CZ), made the headlines after donating 500 BNB to facilitate relief in Thailand and Myanmar.
The donation comes from an earthquake of 7.7 coarse which resulted in 144 deaths.
The step movement not only highlights the potential of cryptography to help rapid relief from a disaster, but also coincides with an increase in the price of altcoin.
BNB rejects a key support
After the news from donation, BNB rejected the level of resistance of $ 608 and saw an increase of 2% prices. The feeling of the Binance Coin market has also changed, as most technical indicators and on a chain are stumulating bulls.
In particular, the Stochastic RSI is in the surveillance area, indicating an upward potential price reversal.
In addition, the structure of the Altcoin market has also become an upward trend after the race raised in the past two weeks, indicating continuous price rallies.
Market players closely follow the BNB movement in anticipation of new rally if the key resistance levels are raped.
Source: tradingView
Liquidation data suggest an additional rally
The liquidation data add another bullish layer to the prospects of the BNB market. According to the Ambcrypto analysis on Coinglass data, approximately $ 5.87 million in BNB are set for the liquidation at the price of $ 648.
This accumulation in liquidation pools suggests increased purchase pressure, supporting the rally more.
Historically, liquidation levels have been used to assess the feeling of the market by investors. And in this case, an evolution towards $ 648 can trigger more liquidations accordingly, propeling the appreciation of prices at a faster rate.
If the upward trend continues, the BNB price can rally to test higher levels in the coming days.
Source: Coringlass
The role of crypto in rescue in the event of a disaster extends
Zhao’s donation complies with the growing humanitarian relief potential using crypto. Unlike traditional donation methods, cryptographic transactions offer speed, transparency and global accessibility.
This effectively allows resource mobilization to disaster areas.
Binance has launched such efforts with blockchain technology applications for social impact.
The new gift adds not only to emergency efforts, but also strengthens confidence in the impact of crypto in resolving calamities in the real world.
