BNB was trading at $1,200 on Wednesday, down 0.5% after falling from a new all-time high that came after a market-wide liquidation event wiped roughly $500 billion from the crypto market.
The token, which is the native token of the BNB chain and can be used to pay trading fees on Binance, recovered from lows near $1,145 to highs around $1,237, suggesting that buyers remain active despite the current macroeconomic uncertainty.
BNB Chain sought to bolster trust through a $45 million airdrop initiative with PancakeSwap and Trust Wallet, rewarding active community members to encourage trading activity. Binance itself announced a $400 million “Together Initiative,” which it noted as an initiative to rebuild user trust.
Meanwhile, Binance’s stablecoin reserves rose to $44.6 billion, up more than $3 billion since the month began, indicating that investors are keeping funds available rather than abandoning the market entirely.
At the same time, China Merchants Bank International (CMBI) tokenized its dollar money market fund on the BNB chain, issuing two tokens, CMBMINT and CMBIMINT, to accredited investors via DigiFT and OnChain.
Corporate BNB accumulation has also continued. Previously, Hong Kong-listed investment bank China Renaissance was reported planning a $600 million raise for a publicly traded crypto treasure focused solely on BNB.
Technical Analysis Overview
Recent BNB trading shows a solid floor forming between $1,190 and $1,195, where buyers steadily entered during pullbacks. This area has acted as reliable support, absorbing selling pressure and preventing deeper losses, according to CoinDesk Research’s technical analysis data model.
On the upside, resistance has developed between $1,215 and $1,220, halting multiple breakout attempts but not reversing the broader recovery trend.
Trading volume during the rally more than doubled its 24-hour average, confirming that demand quickly returned after the sell-off episode.
Since then, the volume has reduced near the upper range. This type of consolidation often precedes continuation, suggesting that BNB could attempt another push higher if overall sentiment remains stable.
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.
