The BNB chain’s native token, BNB, rose more than 3% over the past 24 hours as a mix of institutional momentum and strategic selling shaped its trading session heading into the weekend.
The token rose from $1,056 to $1,087 and peaked at $1,131 in early morning trading before retreating slightly. That’s outperforming the broader crypto market, which rose 2.43% in the last 24 hours, based on the CoinDesk 20 (CD20) index.
Profit-taking near resistance levels may be the reason for the late dip. Trading volume hit 204,000 tokens, nearly three times the daily average, underscoring active participation from market players, according to CoinDesk Research’s technical analysis data model.
Behind the price action is a wave of growing adoption. Coinbase recently added BNB to its list of assets being considered for full platform support following the launch of the exchange’s new “Blue Carpet” initiative.
On top of that, China Merchants Bank International (CMBI) tokenized its USD money market fund on the BNB chain and issued two tokens, CMBMINT and CMBIMINT, to accredited investors.
BNB Chain, the blockchain that BNB runs, also hit a milestone of over 3.6 million daily active addresses last week, according to DeFiLlama, the highest in its history.
Corporate accumulation has also grown, with Hong Kong-listed investment bank China Renaissance reportedly planning $600 million to build a BNB-focused treasury.
Still, BNB remains 17% below the all-time high of $1,370. The token’s recent volatility, marked by a spread of $79, suggests traders are struggling to price rising demand against broader market turmoil.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
