BNB, the native token of the BNB Chain and a utility token for fee discounts on Binance, fell below $1,000 on Thursday, declining more than 2% in 24 hours as the broader cryptocurrency market weakened. The CoinDesk 20 (CD20) index also dropped 3.7% during the same period.
Market sentiment remains subdued. The Crypto Fear and Greed Index sits at 41, approaching “fear,” while the average crypto RSI signals oversold conditions, according to CoinMarketCap. Resistance formed near $1,035, and support held around $987.
BNB Chain Updates
BNB Chain validators have proposed reducing gas fees from 0.1 to 0.05 gwei, which would lower transaction costs to roughly $0.005 and speed up block times from 750 milliseconds to 450 milliseconds. The proposal coincides with surging on-chain activity after the launch of decentralized trading platform Aster, which recently surpassed Hyperliquid in daily perpetual trading volumes.
Technical Snapshot
BNB traded within a $49 range over the past 24 hours, falling to $993 before briefly recovering to near $994. Support is consolidating near $987–$989, while resistance sits just under $996–$1,030. Trading volumes indicate a transition from aggressive selling to slower accumulation, suggesting potential stabilization at current levels.
