BNB is Now Down 11% From Its Record High Despite Coinbase Roadmap Listing


Binance Coin (BNB) has experienced a significant drop this week, down 11% from its all-time high of $1,370. The cryptocurrency hit an intraday low of $1,151.50 before stabilizing around $1,180. Despite being added to Coinbase’s listing roadmap, BNB has struggled to recover from this decline.

The drop in BNB’s price led to over $630 million in liquidations across more than 210,000 trader accounts as the market turned risk-off. However, the token showed signs of attempted recovery, bouncing from its low to a session high of $1,194.06. Trading volume remained high at $6.19 million during this period.

Interestingly, BNB has been gaining adoption, with China Merchants Bank International (CMBI) tokenizing its USD money market fund on the BNB Chain. This move involved issuing two tokens, CMBMINT and CMBIMINT, for accredited investors via DigiFT and OnChain.

Furthermore, BNB’s inclusion on Coinbase’s asset listing roadmap and the exchange’s launch of the “Blue Carpet” initiative have brought additional momentum to the token. While being added to the roadmap does not guarantee a listing, it represents a significant nod to Binance’s ecosystem’s native token.

BNB’s corporate treasury accumulation has also received attention, with Hong Kong-listed investment bank China Renaissance reportedly planning a $600 million investment in building a BNB-focused treasury. David Namdar, CEO of CEA Industries (BNC), a leading publicly traded BNB treasury firm, emphasized that BNB is a “blue-chip digital asset with real adoption, deep liquidity, and tangible utility.”

Namdar described BNB as “digital infrastructure equity” and highlighted the growing institutional interest in the token outside the U.S. Despite these positive developments, BNB remains down by 0.38% on the day, with market watchers closely monitoring whether the $1,150 support level can hold and if the broader market may provide some relief.

In the midst of growing trade tensions between the U.S. and China, investors have been turning to safe-haven assets like gold, which recently surpassed $4,200. It will be interesting to see how BNB’s price evolves in response to these macroeconomic factors and its increasing adoption in the cryptocurrency space. Bullish group, the majority owned by Block.one, is a prominent player in the blockchain and digital asset industry. Both companies have interests in various blockchain and digital asset businesses, as well as significant holdings of digital assets, including bitcoin.

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