BNB swung sharply between gains and losses in a volatile 24-hour stretch. The token dropped to an $872 low earlier before rallying to $884 and then seeing a sharp reversal wipe out those gains. The initial drop took BNB from around $880.50 to a low of $871.99. From there, the token staged a comeback, peaking near $884.60 before selling pressure brought it back down to its current level at $873.6. That rebound came on a wave of trading activity, with volume spiking to nearly 60,000 tokens, particularly around $876, a level that acted as key support during the session, according to CoinDesk Research's technical analysis model. However, things quickly turned around for the token, which fell more than $5 in just minutes on a volume spike that coincided with a broader market sell-off. That drop came after reports that Israel launched an attack against Hamas’ leadership in Qatar. While the broader crypto market fell, the price of gold saw a bump that saw futures near a new record at $3,700 an ounce, while gold-backed cryptocurrencies PAXG and XAUT hit highs of before dropping back. Meanwhile, CoinDesk Data’s latest Exchange Review report revealed that Binance saw $2.63 trillion in futures trading volume last month, a new monthly record. Along with Bybit and Crypto.com , it was one of the largest exchanges by spot trading volume. BNB can be used to pay for trading fees on Binance, allowing users to get a 25% trading discount on fees being paid. It’s also the native token of the BNB Chain. 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 .
