ToptenCryptoIndexFund's monthly update on the top ten cryptocurrencies experiment in 2023 (where $100 is invested and held for nearly six years in each of the top ten cryptocurrencies, including BTC, ETH, BNB, XRP, BUSD, DOGE, ADA, MATIC, DOT and LTC).

Binance Coin (BNB) is currently consolidating above the $320 support against the US Dollar. The price is trading below $330 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $333 on the 4-hour chart of the BNB/USD pair. The pair could start a fresh increase if it clears $333 and $335, with the next major resistance near the $340 level. If BNB fails to clear the $335 resistance, it could continue to move down, with initial support on the downside near the $320 level and the next major support near $315. The RSI for BNB/USD is currently above the 50 level, while the MACD is losing pace in the bearish zone. (newsbtc)

The Binance Coin (BNB) faced rejection near $350 against the US Dollar, leading to a major decline below $335 and $320 levels. The price is currently trading near the key $320 support zone, with immediate resistance at $328. A clear move above the $328 resistance might spark bullish moves, while the main resistance is forming near the $340 zone. On the downside, initial support is near the $320 level, followed by the $317 level, and an extended decline toward the $300 support if there's a downside break below $317. The MACD for BNB/USD is losing pace in the bearish zone, and the RSI for BNB/USD is currently below the 50 level. (newsbtc)

On March 28, SafeMoon fell victim to a hack, leading to the loss of 27,000 BNB, valued at $8.9 million at that time. The attacker claimed they had drained the funds accidentally.

Binance's native token BNB started a major rally to $400 ahead of the BNB Beacon Chain's Barral hard fork upgrade scheduled for this week. The upgrade requires 2/3 validators to upgrade to the latest release to continue processing blocks on the blockchain, and introduces several security enhancements for the cross-chain bridge between BNB Beacon Chain and BNB Smart Chain. Binance burned 2,020,132.25 BNB tokens in the 23rd quarterly BNB token burn mechanism on April 14, contributing to the price jump. BNB price has broken the key resistance level at $340 and is trading at $345, with the possibility of a swift rally to $400 if it breaks above the local resistance in the $355-$360 range. The RSI, Bollinger bands, and moving averages indicate the possibility of more upside in the coming weeks.

Binance, the world's largest cryptocurrency exchange, has burned 2,020,132.25 BNB tokens in the 23rd quarterly BNB token burn mechanism, including 656.0230123 BNB burned through the Pioneer Burn Program. The exchange is aiming to reduce its circulating supply to 100,000,000 BNB through its BNB Auto-Burn procedure. With the latest burn, Binance has burned 46.148 million BNB tokens in total to date. Typically, the quarterly BNB token burn by Binance is generally followed by an increase in the BNB price, but the BNB price fell slightly after the burn, giving up earlier gains. 

BNB, the native currency of the Binance ecosystem, remains under pressure as regulators continue questioning the exchange’s operations and compliance with local laws.

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