BNB rose nearly 2% over the past 24-hour period to near the $700 mark, lifted by growing buyer appetite amid a wider cryptocurrency market rally.
Across the broader crypto market, Binance maintained its grip as the top exchange in the second quarter, handling more than 35% of global trading volume, according to TokenInsights’ latest report. BNB is used on Binance for trading fee discounts and to participate in various activities.
Spot trading volumes fell to $3.6 trillion, down from $4.6 trillion in the first quarter, the report notes.
BNB has oscillated in a $23 range between $675 and nearly $700, with technical resistance hovering around $690 to $695, according to CoinDesk Research’s technical analysis model. The token’s volatility comes as it celebrates its eighth anniversary and after a $1 billion token burn.
BNB is also seeing adoption in corporate treasuries and has joined efforts like the Ondo Global Markets Alliance, aiming to bring tokenized securities such as U.S. stocks and ETFs to BNB Chain.