Why is BNB coming down today? Price increases are short by selling the market after Israel’s strike in Qatar
The BNB swung strongly between the gains and losses in a volatile 24 hours stretch. The token dropped to a $ 872 low earlier before ranging to $ 884 and then seeing a sharp return to wipe the gains.
The initial collapse was taken by BNB from around $ 880.50 to a low $ 871.99. From there, the token performed a comeback, which approached near $ 884.60 before selling the pressure returned to its current level at $ 873.6.
That rebound came to a wave of trading activity, with spiking volume in nearly 60,000 tokens, especially around $ 876, a level that acted as a major session support, according to the CoinDesk Review technical review model.
However, things quickly turn around for the token, which fell over $ 5 in just a few minutes in a spike volume that coincides with a broader market sale. That fall came after reports that Israel launched an attack against Hamas’s leadership in Qatar.
While the broader crypto market fell, the price of gold saw a bump that saw futures close to a new note At $ 3,700 an ounce, while the gold backed cryptocurrencies paxg and xaust hit high before returning.
Meanwhile, CoinDesk’s latest data Review Exchange The report revealed that Binance saw $ 2.63 trillion in the amount of trading in futures last month, a new monthly note. With bybit and Crypto.comIt is one of the largest trade volume exchanges in the area.
BNB can be used to pay for trading Payment In Binance, allowing users to obtain a 25% trading discount on fees paid. It is also the native token of the BNB chain.
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