Recently, the cryptocurrency market has seen increased volatility, with BNB experiencing a pullback after reaching a historical high of approximately $1370. As of the current price, it has fallen back to $1212, with a daily decline of 6.59%, and its market capitalization has shrunk to about $167.5 billion. Meanwhile, market sentiment has turned cautious, with the fear and greed index recording 37, falling within the 'fear' range.
During this market fluctuation, Binance's $400 million 'Together Plan' and the BNB Chain's airdrop policy form the core support. The 'Together Plan' was urgently launched after a market crash and abnormal K-line data triggered a large number of forced liquidations among users, with $300 million specifically used to compensate users for liquidation losses and $100 million allocated for institutional support loans to alleviate market liquidity pressure. Additionally, the BNB Chain, in collaboration with ecological partners like Four Meme and PancakeSwap, launched a $45 million 'Reload Airdrop,' which is distributed in four batches, with the first batch already completed. This program targets traders, developers, and builders who remain active during market fluctuations, covering over 160,000 on-chain addresses.
The strong performance of the on-chain fundamentals provides resilient support for BNB. Data shows that the current active addresses on the BNB Chain remain at 3.46 million, with monthly trading volume exceeding 500 million transactions. Although it has decreased from the previous peak of 5.9 million monthly active addresses, it still reflects the stability of network utility. Additionally, the total locked value in DeFi within the ecosystem has reached $15 billion, with daily network revenue exceeding $4 million, further solidifying the asset's value foundation. Notably, behind the previous highs of BNB, there were signals of institutional capital from Huaxing Capital, which raised a $600 million fund to accumulate BNB.
The technical analysis shows that BNB is currently in a critical competitive range. Its core support level is concentrated between $1180 and $1200, which overlaps with the previous range of fluctuations. If it can hold this level, there is a possibility of a recovery from the pullback; the upper resistance remains at the historical high of $1370, which requires accompanying trading volume for an effective breakthrough. In terms of indicators, the RSI (66.7) has not yet entered the overbought zone, maintaining a bullish signal. However, considering the background of a net outflow of $2.175 billion in the market, caution is needed in the short term against further adjustment risks triggered by profit-taking.#币安HODLer空投ENSO #币安HODLer空投YB #BNB创新高 #币安HODLer空投EUL #MichaelSaylor暗示增持BTC
