Binance News: VanEck Files for BNB ETF, BNB Flips Solana in Market Cap

In a significant development for the cryptocurrency market, investment firm VanEck has filed for a BNB ETF in the United States, marking the first such attempt for this popular token. This move has sparked a rally in BNB’s price and resulted in it flipping Solana in terms of market capitalization.

VanEck Files for BNB ETF, Sparking Rally and Flipping Solana

VanEck has officially filed for a BNB ETF in Delaware, marking the first attempt to create a dedicated ETF fund for the token in the US. This is VanEck’s 5th crypto ETF filing. The BNB token has flipped Solana in market cap, driven by utility and ecosystem growth. BNB Chain’s “Vote 2 List” boosts activity, making it a utility token with Megadrop and airdrops. The token bounces from $588 support, facing $610 resistance, with analysts eyeing $600 as key for bullish moves.

Binance-Backed FDUSD Stablecoin Loses Dollar Peg Following Justin Sun Accusations

A stablecoin called First Digital USD (FDUSD) lost its dollar peg on Wednesday after TRON founder Justin Sun claimed that its issuer, First Digital Trust, is effectively insolvent. The Hong Kong-based firm is currently unable to fulfill client fund redemptions, Sun warned, urging regulators and law enforcement to take swift action. First Digital Trust denied the allegation, stating that its stablecoin worth $2.5 billion is backed one-to-one with U.S. Treasuries, and described Sun’s rhetoric as part of a smear campaign. No direct mentions of BTC, ETH, LTC, BSV, OKB, METIS, ETC, MOVR, OMNI, DOT, SOL, or other listed coins and exchanges were made in the news.