BNB Price Treads Water at $800 as Sell Call Lingers

The Motley Fool recently downgraded BNB (CRYPTO: BNB) to a sell rating, citing concerns over its exchange, Binance. Despite this, BNB's price has continued to rise, reaching $776.

The sell recommendation is largely based on the U.S. Justice Department's efforts to seize around $61 million in cryptocurrency linked to Iranian oil sales that allegedly went through Binance.

Binance Research reports that BNB Chain and Robinhood Chain together accounted for approximately 88% of all tokenized stock trades on decentralized exchanges as of early September, with BNB Chain hosting $6.4 billion in tokenized stocks.

The Motley Fool argues that Binance's legal troubles could impact how institutions view BNB, but some argue that the blockchain's growing usage and trading volumes justify ignoring the sell call.