BNB Steadies at $668 as DeFi Momentum Balances Broader Market Weakness
BNB remains anchored near $668, defying broader market softness as rising ecosystem activity and a surge in decentralized trading offer a counterweight to regulatory pressure.
The token has risen 11% over the past month, buoyed by Binance’s clampdown on Alpha Points abuse — a move aimed at curbing bot-driven exploits and restoring fairness to its rewards system.
That decision comes amid a broader uptick in network usage. BNB Chain logged $187 billion in decentralized exchange volume in May, capturing 36% of the market, according to Dune Analytics. Daily volumes on PancakeSwap surpassed $6.7 million, outpacing Circle’s performance in DeFi metrics.
Transaction counts tell a similar story. BNB Chain processed 198 million transactions last month — a 148% month-over-month increase — and briefly overtook Ethereum in total value moved.
From a technical perspective, analysts point to support near $663 and resistance at $691. A breakout above the latter could open the path to $790, while a fall below $648 might invite further selling.
Despite macroeconomic concerns and regulatory overhang, BNB’s fundamentals — from user activity to DEX dominance — suggest it’s well-positioned for continued relevance in the evolving crypto landscape.
