BNB Soars Past $1,200 Amidst Market Liquidations

Binance Coin (BNB) has surged past the $1,200 mark, reaching a new all-time high. This surge coincided with significant liquidations across various cryptocurrency markets. According to CoinMarketCap, BNB traded at $1,202.01 with a daily trading volume of $4.21 billion, experiencing a nearly 2% increase over the past day. However, the overall crypto market saw a dip of 1.12%, falling to $4.22 trillion. CoinGlass data reveals around $5 million worth of BNB positions were liquidated in the previous 24 hours. Short traders suffered the brunt of these losses, totaling $3.51 million, compared to only $1.50 million for long positions.