BNB Rises to $884 but Retreats Amid Broader Market Selling

BNB Briefly Hits $884 Before Market Sell-Off
September 9, 2025

Binance Coin (BNB) saw a volatile 24-hour session, surging to $884 before a rapid sell-off pushed the price down to $873.60. The token initially fell from around $880.50 to a low of $871.99, then rebounded as trading volume spiked to nearly 60,000 tokens around the $876 support level, according to CoinDesk Research.

The sharp reversal came amid broader market declines, fueled in part by reports of an Israeli strike on Hamas leadership in Qatar. BNB dropped more than $5 in minutes as traders reacted to the news. Meanwhile, gold saw a brief surge, with futures approaching $3,700 per ounce, and gold-backed tokens PAXG and XAUT also spiked before easing back.

Binance continued to see record activity last month, with $2.63 trillion in futures trading volume in August, according to CoinDesk Data—a new monthly record. Alongside Bybit and Crypto.com, Binance remains among the largest exchanges by spot trading volume. BNB can be used to pay trading fees at a 25% discount and serves as the native token of the BNB Chain, powering its growing ecosystem.