BNB, the native token of the BNB Chain and a utility token for fee discounts on Binance, dipped below $1,000 on Thursday, falling more than 2% over 24 hours amid a broader market pullback. The CoinDesk 20 (CD20) index also declined 3.7% during the session.
Market sentiment remains soft. The Crypto Fear and Greed Index sits at 41, approaching “fear,” while the average crypto RSI signals oversold conditions, according to CoinMarketCap. Resistance has formed near $1,035, with support holding around $987.
BNB Chain Developments
Validators on the BNB Chain have proposed cutting gas fees from 0.1 to 0.05 gwei, reducing average transaction costs to roughly $0.005 and accelerating block times from 750 milliseconds to 450 milliseconds. The proposal comes amid rising on-chain activity following the launch of decentralized trading platform Aster, which recently overtook Hyperliquid in daily perpetual trading volumes.
Technical Analysis
BNB traded within a $49 range over the past 24 hours, dropping to $993 before briefly recovering to near $994. Support is consolidating around $987–$989, while resistance sits just under $996–$1,030. Trading volumes suggest a shift from aggressive selling toward slower accumulation, indicating potential stabilization at current levels.
