BNB is now down 11% from its all-time high of $1,370 this week, hitting an intraday low of $1,151.50 before stabilizing near $1,180. Its recent addition to Coinbase’s listing roadmap has failed to help it recover.
The drop triggered more than $630 million in liquidations across over 210,000 trader accounts as the market turned risk-off.
The token’s 24-hour trading range showed signs of attempted recovery, bouncing from the $1,151 low to a session high of $1,194.06. Volume remained elevated, with $6.19 million traded during the period, as shown by multiple spikes in the chart, according to CoinDesk Research’s technical analysis data model.
The pullback came even as adoption grows. China Merchants Bank international (CMBI) has tokenized its USD money market fund on the BNB Chain, issuing two tokens, CMBMINT and CMBIMINT, for accredited investors via DigiFT and OnChain.
Adding to the momentum the token, which can be used for fee discounts on Binance, was added to Coinbase’s asset listing roadmap shortly after the exchange launched its “Blue Carpet” initiative, a new, streamlined onboarding process for token projects.
While inclusion on the roadmap doesn’t ensure a listing, the timing marks a rare nod toward the native token of Binance’s ecosystem. Earlier, BNB’s corporate treasury accumulation also received a nod, after Hong Kong-listed investment bank China Renaissance was reported to plan a $600 million to build a BNB-focused treasury.
David Namdar, CEO of leading publicly traded BNB treasury firm CEA Industries (BNC), told CoinDesk that BNB is a “blue-chip digital asset with real adoption, deep liquidity, and tangible utility — not just a narrative.”
“The fundamentals speak for themselves. In Q2, BNB Chain averaged over $3.3 billion in daily DEX volume and nearly $10 billion in total value locked across DeFi,” Namdar said, adding that “many Western investors still overlook it.”
Namdar described BNB as “digital infrastructure equity,” noting that institutional interest is growing rapidly outside of the U.S.
“There’s no ETF for BNB, and yet institutional demand is growing fast. We’re bridging that gap.”
Still, BNB remains down 0.38% on the day. Market watchers will be focused on whether the $1,150 support level can continue to hold and whether the wider market may provide some relief.
On the macro font, the growing trade tensions between the U.S. and China have driven investors away from risk assets and into safe havens like gold, which recently topped $4,200.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
