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.
