📉 $BNB Fell Harder Than Bitcoin — Why Binance's Own Token Took the Biggest Hit
After Binance disclosed its $6.3 billion security breach on Thursday, 29 October, BNB dropped from $744.90 to $680 within an hour — a fall of about 8.7%. About $3 billion of the affected assets has since been frozen, and Binance has pledged to cover all customer losses, with withdrawals paused and expected to resume by Sunday.
Why did BNB fall more than Bitcoin? Because BNB is Binance's own token. When confidence in the exchange itself is shaken, its own token feels it first. Bitcoin also fell — it trades near $77,648 on Friday evening, down about 4.6% in 24 hours — but BNB's link to Binance is direct, so the reaction was sharper. The fresh chart shows BNB near $699.82, down about 6.6% in 24 hours, after a low of $680.
One important distinction: BNB Chain confirmed on Friday that BNB Smart Chain, opBNB and its bridges were not affected by the hack — the breach hit Binance's hot wallets, not the chain itself.
Levels traders are watching: support near $680 — if $680 holds, the bounce may continue; if it breaks, selling could deepen. Resistance sits at $720, where the last bounce was capped, then $745.74, the pre-hack level.
Do you think BNB reclaims $720 first, or does it retest $680? Tell me what you are watching.
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #BNB #CryptoNews
After Binance disclosed its $6.3 billion security breach on Thursday, 29 October, BNB dropped from $744.90 to $680 within an hour — a fall of about 8.7%. About $3 billion of the affected assets has since been frozen, and Binance has pledged to cover all customer losses, with withdrawals paused and expected to resume by Sunday.
Why did BNB fall more than Bitcoin? Because BNB is Binance's own token. When confidence in the exchange itself is shaken, its own token feels it first. Bitcoin also fell — it trades near $77,648 on Friday evening, down about 4.6% in 24 hours — but BNB's link to Binance is direct, so the reaction was sharper. The fresh chart shows BNB near $699.82, down about 6.6% in 24 hours, after a low of $680.
One important distinction: BNB Chain confirmed on Friday that BNB Smart Chain, opBNB and its bridges were not affected by the hack — the breach hit Binance's hot wallets, not the chain itself.
Levels traders are watching: support near $680 — if $680 holds, the bounce may continue; if it breaks, selling could deepen. Resistance sits at $720, where the last bounce was capped, then $745.74, the pre-hack level.
Do you think BNB reclaims $720 first, or does it retest $680? Tell me what you are watching.
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #BNB #CryptoNews
