BNB Token Drops 12.84% Amid Market Stress, Holds Key Support After Grayscale ETF Listing

BNBUSDT experienced a sharp 12.84% decline in the past 24 hours, dropping from 697.74 to 608.17. This significant correction is attributed to intensified selling pressure following BNB’s rejection at the $932 resistance level and subsequent bearish momentum. Heightened market stress, "Binance FUD," and increased scrutiny from recent news have also contributed to the downturn, despite positive developments such as BNB's addition to Grayscale's Crypto 5 ETF and technical advancements on BNB Chain. Currently, BNBUSDT is trading at 608.17 with a 24-hour volume exceeding $4.85 billion, ranking as the fourth-largest cryptocurrency by market capitalization and consolidating near a critical support zone.