BNB price is at risk of further losses as multiple metrics point to Binance losing its market share in the crypto sector.
BNB (BNB) price is turning down again after a six-day rally that saw it hit new record highs of $725 on June 6. BNB has since fallen to an intra-day low of $635. At the time of writing, the price was hovering around $643, down 5% over the last 24 hours, according to data from CoinMarketCap.
BNB’s performance has been bullish over the last month, with the layer 1 token soaring 10% over the last 30 days and 25% in June alone to reach $725 on June 6 – its highest value since November 2021. However, profit-booking on the latest rally has seen the price turn down with risks of further dips.
Despite overcoming the negative effects of regulatory challenges on its brand, Binance has managed to maintain its resilience. As a result, its BNB Smart Chain (BSC) has also seen a resurgence in activity.
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Author: Nancy Lubale
