BNB Falls Under $860 as Traders Eye U.S. Employment Data

BNB traded in a volatile 2% range over the past 24 hours, fluctuating between $849.88 and $868.76. The session began with bullish momentum but lost steam as the token approached resistance near $868.

The price swings follow filings with the U.S. Securities and Exchange Commission by REX Shares and the rise of BNB-focused treasury firms, including B Strategy, which aims to hold up to $1 billion in BNB with backing from Binance co-founders Changpeng Zhao and Yi He.

On-chain activity surged, with daily active wallet addresses on BNB Chain more than doubling to roughly 2.5 million, according to DeFiLlama. Yet transaction volumes have been declining steadily since late June, highlighting uneven on-chain engagement despite growing interest.

BNB’s price is also facing macro headwinds ahead of key U.S. economic data this week, including manufacturing and services surveys and August payroll figures, which could influence expectations for a potential Federal Reserve rate cut.

Technical Overview

BNB rallied from $860.30 to $868.08 but encountered heavy selling in the $867–$868 range, marking a key resistance zone. Volume peaked at 72,000 tokens, above the session average of 54,000, indicating strong market participation. The token retraced to $850–$855, with dips to $851.40 triggering volume spikes and confirming demand at lower levels.