Why is BNB Up Today? Binance Dominates Q2 Volumes and Crypto Market Rallies Amid Inflation Fears
BNB rose nearly 2% over the past 24-hour period to near the $700 mark, lifted by growing buyer appetite amid a wider cryptocurrency market rally.
Across the broader crypto market, Binance maintained its grip as the top exchange in the second quarter, handling more than 35% of global trading volume, according to TokenInsights’ latest report. BNB is used on Binance for trading fee discounts and to participate in various activities.
Spot trading volumes fell to $3.6 trillion, down from $4.6 trillion in the first quarter, the report notes.
BNB has oscillated in a $23 range between $675 and nearly $700, with technical resistance hovering around $690 to $695, according to CoinDesk Research’s technical analysis model. The token’s volatility…
