BNB fell over 1% in the past 24 hours to briefly drop below the $750 support level, which it is currently holding on to. The drop came after a brief rally that moved it over the $760 line.
The cryptocurrency’s previous rally was driven by corporate adoption and Binance product rollouts. The drop came as a wider market sell-off, triggered by bitcoin’s decline to $112,800, sparked $360 million in liquidations according to CoinGlass.
Just a day earlier, BNB broke through key resistance levels at $759 and $761 on a coordinated wave of buying, according to CoinDesk Research’s technical analysis model. Volume surged 50% above daily averages, fueled in part by Binance launching a web version of its wallet and opening bitcoin options writing to all users.
That optimism came amid corporate accumulation. CEA Industries unveiled a $1.2 billion BNB-focused fundraising plan, while Liminatus Pharma and Windtree Therapeutics disclosed $500 million and $700 million BNB commitments, respectively. Nano Labs reported purchasing 128,000 BNB for its corporate treasury.
Those gains proved short-lived. BNB fell from its local high of $769.70 amid a spike in volume past 49,000 tokens that signaled heavy selling.
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