BNB Price Steady at $668 Amid Increased Activity and Regulatory Tension
BNB is trading at approximately $668, influenced by positive ecosystem developments and regulatory challenges. Key points include:
- BNB has increased over 11% in the last month due to strong decentralized finance activity and the resolution of a long-running lawsuit against Binance.
- Binance's crackdown on bots using its Alpha Points reward system has strengthened investor confidence.
- Alpha Points contributed to BNB Chain's DEX trading volumes reaching $187 billion in May, capturing a 36% market share.
- PancakeSwap generated $6.72 million in fees in the past 24 hours, outperforming Circle's USDC, which brought in $6.35 million.
- BNB Chain processed 198 million transactions in May, marking a 148% increase from April and surpassing Ethereum in value transferred.
- Technical analysis indicates support around $663 and resistance near $691; a breakout could lead to a price target of $790, while a dip below $648 may trigger corrections.