BNB Chain DEX volumes drop 24% in a week — Is BNB in trouble?
BNB price has struggled, but some investors claim Changpeng “CZ” Zhao’s release will pump BNB price even as network fundamentals worsen.
BNB Chain’s native token, BNB (BNB), declined by 16.1% between Aug. 23 and Sept. 2, falling from a high of $598.80 to a low of $502.10. However, significant buying activity emerged below $510, helping BNB recover some of its losses to currently trade at $517.
Investors are concerned that BNB may have entered a bearish market, particularly as the token hasn’t held above $610 since mid-June.
BNB Chain metrics indicate declining interest, especially in decentralized exchange (DEX) volumes. Consequently, traders are questioning whether the $400 level from Aug. 5 could be retested.
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Author: Marcel Pechman
