Analyst: BNB's rise is a technical rebound, driven by factors such as CZ's speech promoting BNB Chain

Odaily Planet Daily News Presto Research Analyst Min Jung said: "ETH's strength may be due to Cboe's application to the US SEC for approval to pledge in the 21Shares Ethereum ETF. One of the biggest problems facing the ETH ETF is that it cannot be pledged, so if this plan is approved, it may change the rules of the game." In addition, BNB has the highest increase among the top 30 cryptocurrencies by market value, up 12% to around $710. BTC Markets cryptocurrency analyst Rachael Lucas believes that the rise in BNB prices is a "technical rebound". "Due to liquidation-driven selling, the token bottomed out after falling to $500 on February 6. Given BNB's historical price trend, traders may regard the $500 level as a key accumulation area, and it will rise further once the market sentiment improves." At the same time, Presto analyst Jung pointed out that Binance's listing of Meme coins such as TST and CHEEMS, coupled with CZ's promotion of BNB Chain on social media, may be the reason for the rise in BNB prices. (The Block)