BNB traded around $1,200 on Wednesday, down slightly after pulling back from a recent all-time high following a market-wide liquidation that erased roughly $500 billion from crypto markets. The token rebounded from $1,145 to $1,237, showing persistent buyer interest despite broader macro uncertainty.
BNB Chain and Binance have implemented several initiatives to support market confidence. A $45 million airdrop in partnership with PancakeSwap and Trust Wallet rewarded active community members, while Binance’s $400 million “Together Initiative” aims to reinforce trading activity and user engagement.
Institutional activity further bolstered BNB. China Merchants Bank International (CMBI) tokenized its USD money market fund on BNB Chain, creating two tokens, CMBMINT and CMBIMINT, for accredited investors via DigiFT and OnChain. Additionally, Hong Kong-listed China Renaissance is reportedly planning a $600 million crypto treasury focused on BNB.
Technical Snapshot
BNB has established strong support between $1,190–$1,195, consistently absorbing selling pressure during pullbacks. Resistance remains near $1,215–$1,220, capping upside attempts but leaving the broader recovery intact. Trading volume surged during the rebound, confirming demand, and has since consolidated near the upper range—indicating a potential base for another upward push if sentiment remains stable.
