The social media account of Robinhood, a well-known online trading platform in the United States, was hacked to promote a scam token. The scam token, which is called RBH, was built on BSC, thereby tarnishing the reputation of the BNB Chain. The fraudulent activity occurred yesterday, with the hacker claiming that the coin’s initial price is $0.005. An analysis of the token shows that both the creator and the tokenomics information of the token are unknown. Additionally, according to ZackXBT, an analyst on the BSC network, the fraudsters were able to cart away about $8,000 worth of BNB tokens.
Once a scam token is bought, the buyers will find it useless because they won’t be able to sell it back. The BNB Chain is a decentralized cryptocurrency blockchain that enables any developer to easily create any token. On the BNB Chain, every transaction carries a BNB transaction fee. The network’s activity will substantially decrease if investors start to refrain from purchasing BNB Chain’s tokens out of the concern of being scammed, which would have a long-term negative impact on the price of BNB.
Key Binance coin Levels To Watch – January 26
BNBUSD is currently at the 62% Fibonacci retracement level, and with the selling pressure at the premium, the price might resume the bearish order flow. More confirmation for the resumption of the bearish trend includes the bearish divergence that is forming on the daily chart according to the Relative Strength Index (RSI).
The Bollinger Bands also show that the market is in an extremely overbought region. Due to the market’s overall trend, BNBUSD might begin to head downward from here. As the market’s bears dominate the market, the bullish order block above the $257.0 price level might get mitigated.
Binance coin Key Levels
Resistance Levels: $395.0, $361.0, $324.0
Support Levels: $257.0, $220.0, $183.0
Total Market Capitalization: $1.05T
Binance Market Capitalization: $48.08B
Binance Volume: $0.65B
Market Rank: #4
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