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Binance Coin (BNB) Shoots 15% Amid Strong Accumulation By Whales

Binance Coin (BNB) Shoots 15% Amid Strong Accumulation By Whales
After major consolidation at around $400 levels for the last week, Binance Coin (BNB) is showing strong price action gaining 15% today. As of press time, BNB is trading 14.57% up at a price of $465 and a market cap of $78 billion. With its recent price rally, BNB has once again flipped Cardano (ADA) to becoming the third-largest crypto by market cap.
While the BNB price has been under strong consolidation, the whales continued their accumulation over the last two weeks. But on-chain data provider Santiment refers to this as a technical breakout. It reports :
Binance Coin (BNB) is on a temporary breakout and the accumulation from its millionaire holders appears to be paying dividends. Holders with 10k to 100k $BNB have accumulated 412k $BNB in the past two weeks, adding 8.7% more coins to their total holdings.

After a muted response for some time, Binance Coin’s recent surge bring hope for investors. However, this price surge also comes on the backdrop of strong development in Binance’s ecosystem.
Binance Announces Billion-Dollar Blockchain Fund
On Tuesday, October 12, Binance announced its billion-dollar blockchain fund that focuses on introducing the next billion users to the Binance ecosystem. The funding comes to the Binance Smart Chain (BSC) which refers to its as the “biggest growth fund in the history of crypto”.

It's time to accelerate #BinanceSmartChain 's journey towards scaling and mass adoption 
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