BNB swung sharply between winnings and losses in a volatile 24-hour stretch. The token fell to a $ 872 low earlier before they collected for $ 884 and then a sharp turn wiped out these winnings.
The first drop took BNB from about $ 880.50 to a low level of $ 871.99. From there, the token staged a comeback and peaked nearly $ 884.60 before they sold pressure brought it back to its current level to $ 873.6.
This rebound came on a wave of trading activity with volume that spiked to nearly 60,000 symbols, especially about $ 876, a level that served as key support during the session, according to Coindesk Research’s technical analysis model.
However, things quickly turned around for the token, which fell more than $ 5 in just a few minutes on a volume spike that coincided with a wider market sale. This fall came after reports that Israel launched an attack on Hamas’ leadership in Qatar.
While the wider crypto market fell, the price of gold saw a shock that saw futures near a new record for $ 3,700 per day. Ounce, while gold -supported Cryptocurrencies Paxg and Xaut hit heights before falling back.
Meanwhile, Coindesk Data’s latest Exchange Review report revealed that Binance saw $ 2.63 trillion in Futures Trading Volume last month, a new monthly record. Along with Bybit and Crypto.com, it was one of the biggest exchanges after the spot trading volume.
BNB can be used to pay for commercial fees for Binance, allowing users to get a 25% trade discount on fees paid. It is also the native token for the BNB chain.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
