#BNB_Market_Update BNB news today:
1. Current price
Price: $685*, up by *+1.20% in the last 24 hours
In the last 7 days: down by *-3.25%*, meaning it's slightly down
In the last month: down by -7.49%
From its peak: the peak was $1,380*, and it's now down *-50.1% from it
Market cap: $95.47 billion*, ranked *4th in the world, behind Bitcoin, Ethereum, and USDT
Volume: $395 million in 24 hours
2. BNB is the strongest of the major coins
Look at the comparison over the past month:
BNB: down 7.00%
BTC: down 9.80%
ETH: down 15.88%
XRP: down 20.91%
SOL: down 19%
So BNB has fallen the least among the major coins. Why? Because Binance is the world's largest exchange, and people still use BNB to pay fees.
3. Big news: BNB Chain is No. 1 in tokenized U.S. Treasury bonds
This is the news that made headlines:
BNB Chain now has $4.39 billion in tokenized U.S. Treasury bonds
That's 31% of the entire $14.2 billion market
It's number one in the world in this field
Ethereum: it had $8.92 billion on May 11, but now it has only $4.31 billion*, a decline of *52%
This means major institutions are moving away from Ethereum and going to BNB Chain because it's cheaper and faster
Every transaction on BNB Chain is paid for with BNB. So as the amount of bonds increases, demand for BNB increases too.
4. Binance news: the funds from the hack were recovered
In late October, Binance suffered a $6.3 billion hack
Binance recovered 98% of the lost funds
It also resumed withdrawals for more than *62 tokens*, including BNB, as of November 1
So on November 1, people withdrew $4.6 billion*, and deposited *$1 billion*, meaning net outflows of *$3.6 billion
But afterward, people started putting their money back in, because Binance showed it was strong
5. Bad news: BNB Chain had a vulnerability
BNB Chain released an urgent update to fix a serious vulnerability in *BSC-Reth*, its network engine
It also launched a new tool called Red Alarm to warn people about dangerous apps
This shows that the network is evolving, but there are security risks
6. Technical analysis
BNB now: $684.6
Nearby support: *$669.9*, the low on November 10. If it breaks, it will head to *$641*, then to *$658
Resistance: *$713.35*, *$717.46*, and *$723.6*. This is the level it needs to break above for us to say the downtrend is over. This level has stopped BNB *12 times*, most recently on November 5
Moving averages: BNB is above the *50-day MA at $658.71*, but below the *200-day MA at $737.71*. This means the short-term outlook is good, but the long-term trend is still downward
RSI: *36.89*, close to oversold territory
Open interest: fell from $1.5 billion in October to $1.1 billion now, meaning traders have reduced their leverage
Odds of a decline this week: 79%*, versus *21% for a rise
Expected range: between $641 and $706
7. BNB forecast
If BNB closes above *$723.6*, it will head to *$762.2*, then to *$810
If it breaks below *$669.9*, it will head to *$641
The bulls' target is $1,000 in the medium term, but the entire market needs to rebound.
BNB summary:
BNB is the strongest major coin in this downturn.
It has the world's largest exchange
It has the largest share of tokenized bonds
It has *regular burns*; BNB is burned every 3 months, so the supply decreases
Its supply is 139 million*, out of a maximum of *200 million, making it scarce
Anyone who buys BNB is buying a stake in Binance, not just a coin.#StrategyFaces$2.8BSelloffRiskFromMSCIRemoval $BNB
