BNB Rebounds to Near $760 Following Market Sell-Off
BNB experienced a slight rise, recovering from a significant drop to test its $750 support level. It is now near $760, showing buyer interest despite broader market losses due to geopolitical tensions and macroeconomic uncertainty.
- Demand from retail and corporate buyers contributed to heavy trading volumes and recovery from intraday lows.
- Binance has strengthened its platform by launching a web wallet and expanding bitcoin options offerings.
- Companies like CEA Industries, Wintree Therapeutics, and Nano Labs have added BNB to their treasuries, indicating increased demand.
- BNB's 10% drawdown from its $861 peak contrasts with other exchange tokens which are down 30% to 60% from highs.
- BNB holds an 81.4% share of the exchange token sector’s total market capitalization.
Technical analysis shows BNB's price dropped to $746.29 early in the session, attracting strong buying volume. Support was established with a series of higher lows forming, leading to a steady price increase towards $760.