BNB, the BNB chain’s native token, rose 1.4% in the past 24-hour period despite sharp swings that saw its price move through a 7% range during a high-volume session, according to CoinDesk Research’s technical analysis data model.
The gains come amid a rally in risk assets, with bitcoin up 2.6% in the past 24 hours, while the broader crypto market rose 2.5% based on the CoinDesk 20 (CD20) index, after US President Donald Trump softened his stance on tariffs and amid signs the Federal Reserve may ease its quantitative easing program in the near future.
BNB opened the session near $1,077 and climbed as high as $1,144 before paring gains. The gains coincided with an increase in trading volume, which rose to 128,847 tokens, nearly double the 24-hour average.
After falling to around $1,090, buyers stepped back in before resistance capped the move near $1,144. BNB then experienced a pullback as the token fell from $1,128 to $1,122, reflecting waning momentum.
Last week, Coinbase added the token to its list of assets under review for full platform support, part of its newly launched “Blue Carpet” initiative aimed at expanding retail access to more tokens. Around the same time, China Merchants Bank International (CMBI) tokenized its US dollar money market fund on the BNB Chain and issued two tokens – CMBMINT and CMBIMINT – to accredited investors.
Traders are pricing in a 25 basis point interest rate cut by the Federal Reserve this month, while signs of easing trade tensions between the US and China boosted risk appetite.
On the other hand, growing geopolitical tensions weigh on risk assets. Despite the recovery, the mood remains cautious. The Crypto Fear & Greed Index is at 30, meaning sentiment remains in the “fear” range.
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.
