Tag: applications

The post BNB Drops to Key Support Level Above $930 as Markets React to Liquidity Pressures appeared com. The native token of the BNB Chain, BNB, slipped slightly over the last 24-hour period, moving to $933 after briefly surging to $974, as broader crypto markets showed signs of stress tied to tightening financial conditions. The token’s price action played out in a narrow $46 range. Volume rose sharply during the morning’s move higher, 71% above the 24-hour average, but cooled into the close according to CoinDesk Research’s technical analysis data model. The rejection near $975 marked a technical ceiling, while BNB found support once again near $930. “BNB’s ability to hold support mirrors the broader strength we’re seeing on-chain,” Johnny B., the founder of BNBPad. ai, told CoinDesk in an emailed statement. “Despite the market headwinds, BNB Chain saw 82 million active addresses in October, a new all-time high, while DEX volumes neared $120 billion based on DeFiLlama.” BNB’s muted performance came along a wider market drawdown. 9% in the last 24 hours while bitcoin is struggling to remain above $100,000. A U. S. Treasury cash rebuild and falling bank reserves, down an estimated $500 billion since July, have drained capital from markets and made risk assets less attractive, according to a recent report from Citi. That has seen stocks fall as well, with the tech-heavy Nasdaq 100 seeing a 4. 7% decline this week, and the S&P 500 dropping by 2. 7%. In this environment, BNB’s ability to stay above its key $930 support level may reflect confidence in the network’s adoption and the performance of newer decentralized applications like Asper, even as the broader outlook dims. A break above $975 could reopen the path toward recent highs, but further downside in major assets could test buyers’ resolve. BNB remains tied to technical setups for now, but broader.