BNB Breaks Below $1,000 as Fear Index Signals Growing Market Anxiety

BNB, the native token of the BNB Chain and a utility token for fee discounts on Binance, fell below $1,000 on Thursday, dropping more than 2% over 24 hours amid a broader market decline. The token slid from $1,025 to just under $1,000, while the CoinDesk 20 (CD20) index lost 3.7%.

Sentiment in the crypto market remains weak. The Crypto Fear and Greed Index stands at 41, nearing “fear,” and the average crypto RSI points to oversold conditions, according to CoinMarketCap. Sellers dominated as resistance formed near $1,035, with support holding around $987.

BNB Chain Developments

BNB Chain validators have proposed reducing gas fees from 0.1 to 0.05 gwei, lowering transaction costs to about $0.005 and increasing block speeds from 750 milliseconds to 450 milliseconds. This comes amid booming on-chain trading activity following the launch of decentralized platform Aster, which recently surpassed Hyperliquid in daily perpetual trading volumes.

Technical Overview

BNB traded within a $49 range over the past 24 hours, falling to $993 before recovering slightly to near $994. Support has consolidated near $987–$989, while resistance sits just under $996–$1,030. Trading volumes indicate a shift from aggressive selling to slower accumulation, suggesting potential stabilization at current levels.