BNB’s decline during the recent market downturn was significantly lower than other top crypto assets like Bitcoin and Ethereum. This has reinforced investor confidence in its stability during market corrections.
As of now, Binance controls approximately 70% of stablecoins on exchanges, which fuels its influence over market liquidity and trading activity. In contrast to major assets like Bitcoin and Ethereum, which have seen substantial losses, BNB demonstrated relative resilience.
Market data shows that Ethereum suffered a decline of over 20%, while BNB recorded the smallest decline among top five crypto assets, at around 8.5%. This trend suggests that investors may view BNB as a safer asset during periods of heightened market volatility.
BNB’s trading price is currently $610.47, with an intraday high of $611.23 and a low of $590.99. Its Relative Strength Index (RSI) has seen a sharp rise but remains near oversold territory, signaling renewed buying pressure.
Binance’s stablecoin holdings dominate the market, now controlling approximately 70% of all stablecoins held across exchanges. This dominance underscores Binance’s increasing influence in the cryptocurrency trading ecosystem and suggests strong user trust and reliance on the platform for trading and liquidity needs.
BNB’s resilience during a period of widespread market declines highlights its potential as a more stable asset in volatile conditions. Investors looking to reduce risk exposure may consider allocating a portion of their portfolios to BNB, as its historical performance suggests relative strength in downturns.
Source: https://ambcrypto.com/bnb-remains-strong-even-as-the-crypto-market-struggles-heres-why