CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

CoinDesk 2025-05-31 10:10:59

BNB Down 4% as Global Trade Tensions Overshadow SEC Victory

Binance Coin (BNB) dropped nearly 4% over the past 24 hours, rattled by renewed global trade tensions and broad market volatility that overshadowed positive regulatory news. The token fell from $672.53 to a low of $646.27, with selling accelerating during high-volume trading hours as traders reacted to macroeconomic developments. News Background President Trump’s announcement of new tariffs on Canada and Mexico reignited fears of a trade war, sending shockwaves across financial markets. The crypto market wasn’t immune, with BNB underperforming despite the SEC’s voluntary dismissal of its lawsuit against Binance and founder Changpeng Zhao. That case, which had alleged Binance facilitated trading of unregistered securities, had hung over the exchange for nearly two years. BNB Chain saw an active week with BSC recording 1.93 million daily active users and opBNB surpassing 2 million. Total weekly trading volume hit $69.75B, while TVL stands at $10.5 billion. Key projects launched include UpTop (DeFi), Volare Finance (options trading), and WeApe by Wello (stablecoin payments). The chain also launched an incentive program for real-world assets, went live with its AI Bot, and activated the Maxwell Hardfork on testnet for faster block times. The BNB AI Hack announced winners for its latest batch, and the Featured Activities Series now offers upward of $60,000 in rewards on DappBay. Price-Action Technically, BNB established a high-volume resistance zone around $669.68 after repeated failures to sustain bullish momentum. A second wave of selling hit during the midnight hour, with volume spiking to 81,409 units as prices broke below the $650 support level. Although BNB has managed a modest recovery from its cycle lows, forming potential support between $646-$648, the overall trend remains bearish with lower highs and lower lows. Technical Analysis Recap BNB fell from $672.53 to $646.27, a 3.91% decline over the 24-hour period. Most dramatic selling occurred at 16:00 with volume spiking to 100,471 units, establishing key resistance at $669.68. Additional selling pressure hit at midnight, with volume reaching 81,409 units as prices fell below $650. A modest support zone formed between $646-$648, though the broader trend remains bearish. The hourly chart shows higher lows forming an ascending support trendline, suggesting a short-term bullish attempt that could stall further downside. As global trade tensions weigh on risk assets, BNB’s resilience will be tested as traders weigh regulatory clarity against macroeconomic headwinds. Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta