BNB traded near $1,200 on Wednesday, down 0.5% after falling from a recent all-time high, following a market-wide crypto liquidation that erased roughly $500 billion in value. The token rebounded from lows around $1,145 to highs near $1,237, indicating that buyers remain active despite ongoing macro uncertainty.
To restore confidence, BNB Chain and Binance have launched initiatives targeting community engagement. A $45 million airdrop with PancakeSwap and Trust Wallet rewarded active users, while Binance rolled out a $400 million “Together Initiative” to encourage trading activity and user retention.
Binance’s stablecoin reserves climbed to $44.6 billion, up more than $3 billion since the beginning of the month, suggesting investors are holding liquidity rather than exiting positions.
Institutional participation is also supporting BNB. China Merchants Bank International (CMBI) tokenized its USD money market fund on BNB Chain, issuing two tokens, CMBMINT and CMBIMINT, for accredited investors via DigiFT and OnChain. Meanwhile, Hong Kong-listed China Renaissance reportedly plans a $600 million crypto treasury focused exclusively on BNB.
Technical Analysis
BNB has established firm support between $1,190 and $1,195, consistently absorbing selling pressure during pullbacks. Resistance has formed near $1,215–$1,220, capping near-term rallies but leaving the broader recovery trend intact.
Trading volume surged during the rebound, more than doubling the 24-hour average, confirming renewed demand. Volume has since thinned near the upper range, signaling a consolidation phase that could precede another upward move if overall sentiment remains positive.
