BNB, the native token of the BNB chain, rose 1.4% in the last 24-hour period, despite strong swings that saw its price move in a 7% range during a high volume session, according to CoinDesk Research’s technical analysis data model.
The gain comes amid a rally in risk assets that saw bitcoin rise 2.6% in the past 24 hours, while the broader crypto market rose 2.5% according to the CoinDesk 20 Index (CD20) after US President Donald Trump softened his stance on tariffs and amid signs that the Federal Reserve could ease its tariff program. quantitative adjustment in the near future.
BNB opened the session near $1,077 and rose as high as $1,144 before paring gains. The advance coincided with an increase in trading volume, which skyrocketed to 128,847 tokens, almost double the 24-hour average.
After a drop to around $1,090, buyers stepped in again 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 recently 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, issuing two tokens, CMBMINT and CMBIMINT, to accredited investors.
Traders are pricing in a 25 basis point cut in interest rates by the Federal Reserve this month, while signs of easing trade tensions between the United States and China increased risk appetite.
On the other hand, rising geopolitical tensions are weighing on risk assets. Despite the rally, sentiment remains cautious. The Crypto Fear & Greed Index is at 30, meaning sentiment remains in the “fear” area.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
