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BNB Climbs Toward $760 as Market Sell-Off Eases
BNB's 10% drawdown from its peak positions it as one of the more stable assets in the exchange token sector, which has seen larger declines.
Aug 6, 2025, 1:37 p.m.
What to know:
- BNB has rebounded from a large drawdown that tested its $750 support level and is now flirting with $760.
- The token has seen demand from both retail and corporate buyers, with heavy trading volumes helping it recover from its steep intraday lows.
- BNB's 10% drawdown from its peak positions it as one of the more stable assets in the exchange token sector, which has seen larger declines.
BNB saw a slight rise over the last 24-hour period, but has been recovering steadily after seeing a large drawdown to test its $750 support level.
The token is now back flirting with $760 and is showing signs of continued buyer interest at key support levels. This rebound came as major cryptocurrencies posted steeper losses, weighed down by growing geopolitical tensions and macroeconomic uncertainty.
STORY CONTINUES BELOW
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Yet BNB found demand from both retail and corporate buyers, with heavy trading volumes helping it recover from its steep intraday lows.
The asset’s recent performance follows a series of moves by Binance to strengthen its platform, including rolling out web version of its wallet and expanding bitcoin options offerings.
Meanwhile, companies including CEA Industries, Wintree Therapeutics and Nano Labs have been adding BNB to their treasuries, signaling broader appetite for the token.
Compared to other exchange tokens that remain 30% to 60% off their highs, BNB’s 10% drawdown from its $861 peak, according to CryptoQuant data, positions it as one of the sector’s more stable assets under pressure, along with LEO.
BNB, the same data source shows, currently holds a dominance 81.4% share of the exchange token sector’s total market capitalization.
Technical Analysis Overview
BNB’s recovery was driven by a sharp price drop early in the session, where heavy selling sent the token down to $746.29.
That level attracted strong volume with 105,239 tokens traded, well above the daily average, suggesting buyers stepped in aggressively at the discount, according to CoinDesk Research's technical analysis model.
After establishing support, BNB began forming a series of higher lows. That pattern pointed to a shift in sentiment as buyers repeatedly defended new levels, gradually pushing the price upward.
A second volume-backed bounce reinforced that trend. From there, the token climbed steadily, eventually nearing the $760 level.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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