BNB Slides 6.5% After Hitting All-Time High After $500B Crypto Rout

After the crypto market’s $500 billion value destruction , BNB stood out as an outperformer with a swift recovery to a new all-time high above $1,350. That period appears to be over, as it plunged nearly 6.5% in the last 24 ￰0￱ comparison, bitcoin is down 1.9% in the same period, while the broader crypto market, as measured by the CoinDesk 20 ( CD20 ) index, is down 2.9%. BNB’s underperformance could be linked to profit-taking and portfolio ￰1￱ fell from $1,286 to $1,165 as the crypto market stages a fragile recovery from the sharp ￰2￱ $16 million worth of BNB positions have been liquidated in the last 24-hour period over the sell-off, according to CoinGlass ￰3￱ blunt the impact on retail users, BNB Chain announced a $45 million fund aimed at stabilizing the market and supporting more than 160,000 affected ￰4￱ maker Wintermute noted the sell-off was tightly synchronized and tested perpetual contract trading platforms’ ￰5￱ added that the "violent price movement quickly led to liquidity disappearing from the broader market." Still, corporate accumulation of BNB has kept on ￰6￱ Kong-listed investment bank China Renaissance is aiming to raise $600 million for a publicly traded crypto treasury focused solely on ￰7￱ vehicle, to be based in the U.

S., would represent one of the largest public bets on BNB to ￰8￱ would join other listed entities like CEA Industries, which recently raised its BNB holdings to 480,000 ￰9￱ deal is reportedly being backed by YZi Labs, the $10 billion family office of Binance co-founder Changpeng Zhao, who recently hosted an invite-only investor dinner in Singapore to promote BNB-centric investing. 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 ￰10￱ more information, see CoinDesk's full AI Policy .