BNB Holds Onto Fourth Largest Crypto Spot Despite Price Drop and Selling Pressure
BNB remains the fourth-largest non-stablecoin cryptocurrency by market capitalization, valued at about $115.3 billion with a current price around $837, reflecting a 24-hour decline of 2.55%. Trading volume over the past 24 hours is near $1.8 billion, showing visible spikes during sell-offs that indicate reactive trading behavior.
The short-term price action of BNB appears sluggish, with technical indicators pointing to support at $830 and resistance at $845. Recently, the token attempted to maintain gains above the $870 level and moved toward $860; however, selling pressure reinforced the $870 mark as a strong resistance. A decisive break below $830 could open the downside toward weekly levels near $709, while any rebound would need to clear the $845 level to challenge higher prices.
Adoption of BNB Chain grew notably in the third quarter, with daily transactions increasing by more than 35% and active addresses up 47%. In November, BNB Chain recorded about 72 million active addresses and over 444 million transactions according to DeFiLlama data.
