The giant crypto exchange Binance recently made a bold move into the world of AI-infused non-fungible tokens (NFTs). This announcement was made by the CEO Changpeng Zhao (CZ) in a March 29th Twitter post, stating that the much-anticipated Binance Bicasso was officially launched with free minting privileges. To the excitement and delight of community members, a record 100,000 NFTs were successfully minted within five hours of the post, seven hours earlier than anticipated.

The successful distribution of the NFTs has led to an increase in the BNB price, up 5% since March 28th. This is despite the recent legal tussle between Binance and the US Commodity Futures Trading Commission (CFTC), where the regulator targeted the biggest crypto exchange with allegations of violating regulations and aiding American customers in compliance evasion.

At the time of writing, Binance Coin is trading for $317, posting a 1% gain over the day with a 24-hour trading volume increase of 25%. If the buying pressure continues to grow from current prices, BNB could conquer the immediate resistance levels of $325, $339 and then $357, which will denote a 12% climb from the present level. On the flip side, failure to hold these levels could result in a downwards spiral to $287, the March 13th lows, or worse, $263.

The successful impression made by Binance with its Bicasso stake is a major step forward in regaining investor confidence and fanning out the negative publicity the exchange is currently receiving. It's clear that the market is keenly anticipating Binance's entry into the NFT market and is expecting grand things from the crypto giant. Whether Binance is able to reap the dividends of the anticipation or not, only the market action will tell.



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