BNB is currently trading around $705. After the incident broke, it briefly plunged to around $678, suffering a sharp short-term drop before recovering slightly and fluctuating. It saw intense volatility over 24 hours, with a significant surge in trading volume as panic selling peaked.
The main driver of this decline was the Binance hot wallet hack. When the news first broke, panic selling swept through the market, and BNB’s steepest intraday drop came close to 7%. As Binance officially announced that its SAFU fund would fully cover the losses, began replenishing the assets, worked with institutions to freeze over $3 billion in stolen funds, and He Yi said she would take responsibility for all losses, panic eased somewhat and the price rebounded from its low. However, bullish confidence has not fully recovered yet.
$BNB
The main driver of this decline was the Binance hot wallet hack. When the news first broke, panic selling swept through the market, and BNB’s steepest intraday drop came close to 7%. As Binance officially announced that its SAFU fund would fully cover the losses, began replenishing the assets, worked with institutions to freeze over $3 billion in stolen funds, and He Yi said she would take responsibility for all losses, panic eased somewhat and the price rebounded from its low. However, bullish confidence has not fully recovered yet.
$BNB