BNB Dips Below $770 as Solana Edges Ahead in Market Cap; Institutions Continue Accumulating
BNB slipped 1.5% in volatile trading Tuesday, falling to around $765 after peaking near $780 earlier in the week. The decline came amid increased sell pressure, triggering a sharp $34.87 intraday price range as buyers attempted to defend key levels.
The move opened the door for Solana’s SOL to surpass BNB in market capitalization. SOL climbed 3.5% in the same period, pushing its valuation to $109.3 billion compared to BNB’s $106.6 billion.
CoinDesk Research noted that trading volume in BNB spiked to nearly 12,000 tokens in a single hour—evidence of aggressive liquidation activity around the psychologically significant $760 mark.
Traders monitoring the $770 resistance reported early-session rejection candles, typically a signal of large holders exiting positions. Bulls responded by defending support near $745.75, prompting a minor recovery, though upside momentum remained weak.
Despite the price dip, institutional interest in BNB continues to grow. Nano Labs disclosed it has increased its holdings to 120,000 BNB—valued at approximately $90 million—as part of its treasury expansion. The announcement adds to a trend of strategic accumulation by corporate players even amid short-term price pressure.
Separately, Binance confirmed it would temporarily suspend BNB Smart Chain withdrawals on July 23 for scheduled wallet maintenance, expected to last approximately 30 minutes.
