BNB holds onto fourth-largest crypto spot even as price falls, selling pressure builds

BNB remained the fourth-largest cryptocurrency by market capitalization, excluding stablecoins, even after losing more than 2.55% of its value in 24 hours.

The token of BNB Chain is now trading at $837 with a market capitalization of $115.3 billion, closely followed by XRP, which lost 2.3%, at $112.97 billion.

BNB’s decline followed a failed attempt to sustain gains above the $870 level. Earlier, it moved to near $860 before selling pressure pushed the token lower, reinforcing the level as a firm resistance zone.

Trading volume reached about $1.8 billion, with visible spikes during sell-offs, suggesting reactive rather than confident trading behavior according to CoinDesk Research’s technical analysis data model.

Despite the sluggish price action, in line with the wider cryptocurrency market’s recent underperformance compared to traditional financial assets, BNB Chain’s adoption has been growing.

Daily transactions rose more than 35% in the third quarter and active addresses climbed 47%, pointing to broader use of the network. In November, the chain had 72 million active addresses and saw more than 444 million transactions, DeFiLlama data shows.

Short-term charts show BNB could stabilize just above the $830 support area after multiple tests. A decisive break below that level could expose lower weekly levels near $709, while any rebound would need to clear $845 before challenging higher resistance again.

For now, fundamentals and price remain out of sync, leaving traders focused on technical levels and broader market mood.

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.