BNB Price Plummets 28% This Week

Krutika Adani

Highs and Lows

BNB had reached a high of $588 before falling to a low of $460 this week.

Reasons for the Fall

BNB's fall was mostly due to market forces and proportional to that of other major cryptocurrencies.

Why BNB Remains a Top Crypto

Despite all challenges, BNB remains a top crypto due to ultra-low fees, support for a wide range of assets and the network effect of the entire Binance ecosystem.

Challenges Ahead

Almost all of Binance and BNB have been resolved. The final challenge was neutralized when “CZ” accepted his four-month sentence.

Levels To Watch

BNB could only post a major rally if the price crosses $560 soon; otherwise, it might see a slow and painstaking recovery.