BNB Slips Below $1K as Crypto Market Drops, Fear Index Nears ‘Fear’
BNB, the token that powers the BNB Chain and can be used for fee discounts on leading crypto exchange Binance, dropped more than 2% in the last 24 hours amid a wider cryptocurrency market decline.
Sentiment in the industry remains poor, with the Crypto Fear and Greed Index now at 41, a neutral level close to hitting fear, while the average crypto relative strength index (RSI), a technical indicator, points to oversold levels according to CoinMarketCap.
The token slid from $1,025 to just under $1,000 as sellers took control and resistance built near $1,035, according to CoinDesk Research’s technical analysis data model. The broader CoinDesk 20 (CD20) index dropped 3.7%.
BNB Chain validators have put forward a proposal to reduce gas fees…
