BNB Token Slides 4.93% Amid Market Volatility, Surpasses $1.8 Billion in Daily Trading Volume

BNBUSDT experienced a 4.93% price decline over the past 24 hours, closing at 742.70 USDT from an open of 781.25 USDT. This downturn is primarily attributed to broader market volatility affecting major cryptocurrencies, including notable declines in Bitcoin and Ethereum, as well as increased futures long liquidations totaling approximately $4.6 million and a significant leveraged short position opened by a large investor. Additional factors include macroeconomic concerns and a breach of key psychological support levels, with analysts noting bearish sentiment after BNB dropped below $800. Despite recent institutional adoption news such as Grayscale's BNB ETF filing and Valour’s UK ETP approval, current market conditions have led to heightened selling pressure. BNB trading remains highly active, with 24-hour volume exceeding $1.8 billion and the circulating supply around 136.36 million to 140 million BNB, while market capitalization stands near $99.5 billion to $115.3 billion.