Crypto Market Dips, BNB Drops Below $1K Amid Rising Fear Index

BNB, the native token of the BNB Chain and a utility token for fee discounts on Binance, slipped below $1,000 on Thursday amid a broader decline in cryptocurrency markets. The token fell from $1,025 to just under $1,000, dropping more than 2% over 24 hours, while the CoinDesk 20 (CD20) index declined 3.7%.

Market sentiment remains soft. The Crypto Fear and Greed Index sits at 41, approaching “fear,” and the average crypto RSI indicates oversold conditions, signaling potential pressure on prices, according to CoinMarketCap. Resistance formed near $1,035, while support held around $987.

BNB Chain Developments

BNB Chain validators have proposed cutting gas fees from 0.1 to 0.05 gwei, which would reduce transaction costs to roughly $0.005 and speed up block times from 750 milliseconds to 450 milliseconds. This comes as on-chain trading activity surges following the launch of the decentralized trading platform Aster, which has overtaken Hyperliquid in daily perpetual trading volumes.

Technical Analysis

Over the past 24 hours, BNB traded within a $49 range, dipping to $993 before briefly recovering to near $994 as buyers stepped in. Support has solidified around $987–$989, while resistance sits just under $996–$1,030. Trading volume indicates a shift from aggressive selling to slower accumulation, suggesting potential stabilization around current levels.

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