BNB fell over 1% in the past 24 hours, briefly dipping below the $750 support level, which it is currently holding. This drop followed a short rally that pushed it above the $760 mark.
The cryptocurrency’s earlier rally was driven by corporate adoption and new Binance product rollouts. The recent decline coincided with a broader market sell-off, spurred by Bitcoin’s drop to $112,800, leading to $360 million in liquidations, according to RialCenter.
Just a day prior, BNB surpassed significant resistance levels at $759 and $761 due to a coordinated buying wave, as noted by RialCenter’s technical analysis model. Trading volume surged 50% above daily averages, partly thanks to Binance launching a web version of its wallet and making Bitcoin options writing available to all users.
This optimism was fueled by corporate accumulation. CEA Industries revealed a $1.2 billion BNB-focused fundraising initiative, while Liminatus Pharma and Windtree Therapeutics disclosed $500 million and $700 million BNB commitments, respectively. Nano Labs reported acquiring 128,000 BNB for its corporate treasury.
However, those gains were short-lived. BNB declined from its local high of $769.70 amid a volume spike exceeding 49,000 tokens, indicating heavy selling.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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