BNB price saw a 2.6% increase to $516 during the U.S. trading session on Monday, driven by Bitcoin's attempt to reclaim $60k and eased selling pressure from the weekend. The broader market's positive momentum also contributed.
A significant factor for BNB's stability above $500 was Binance's success in recovering or freezing millions in stolen user funds. This recovery has bolstered market confidence in both Binance and BNB.
With the successful recovery of stolen funds, Binance demonstrated its commitment to security and user trust, which has positively influenced the market perception of the exchange and its native coin.
