False news that the US government is selling its BTCs Binance Coin (BNB) also caused the price to drop. BNB dropped as low as $301, the biggest drop in two months.
According to CoinMarketCap, although BNB frost dropped to $301, it managed to rise by 1.65% in the last 24 hours to reach $310 levels. However, as all these developments continue, many new features for the Binance native token introduced.
introducing #Binance‘s updated Trading Bots.
Automate trades using a number of strategies including:
🔸 Spot Grid
🔸 Futures Grid
🔸 Rebalancing Bots
🔸 Auto-InvestNEWS CONTINUES BELOWAnd more!
Get all the details here 👇
NEWS CONTINUES BELOW— Binance (@binance) May 11, 2023
Binance Coin (BNB) Seeks Way To Grow
Prominent cryptocurrency exchange Binance announced that it has launched its trading bot feature. This signaled a shift away from traditional trading strategies and towards automated trading. Crypto trading bots are automated software that helps buy and sell cryptocurrencies at the right time. In addition, Binance said that the Rebalancing Bot account will be renamed Trading Bots. New spot and futures transactions can be created under Trading Bots.
Binance has also listed the functions that will be available to users by June 2023 as part of the app.
The announcement of the new trading feature has also increased trading activity on BNB Chain. The number of daily active users reached the highest level in 5 weeks in the last 24 hours after the decrease recorded on May 10.
While the increase in activity in the network is interpreted as a positive signal, the continuation of the decrease in liquidity is followed closely. The locked total value (TVL) on BNB Chain has dropped more than 3% in the last 24 hours to $5.22 billion, continuing its one-month increase.
You can follow the current price action here.