The recent trend of the $BNB BNB token shows a high-level consolidation pattern. Its price once broke through the $700 mark, increasing by 10% in the second quarter, but compared to popular cryptocurrencies that rose over 20% during the same period, its performance was relatively weak.

Currently, BNB is in a high-level consolidation, having reached a peak of $707.54 during the intraday session before pulling back, with prices consolidating in the $680-690 range. The MA5, MA20, and MA60 moving averages are all in a bullish arrangement, indicating that the medium to short-term trend remains bullish. In terms of capital flow, although there has been net outflow of funds recently due to high-level pullbacks or short-term profit-taking, on a weekly and monthly basis, BNB continues to receive large-scale net inflows, reflecting the market's long-term optimism. However, the number of wallets holding over 10,000 BNB has hit a nearly three-month low, suggesting that some large holders may be reducing their positions. Overall, BNB benefits from the Binance ecosystem and has certain upside potential, but it also faces uncertainties such as market competition and regulation.