Binance Coin Holds Steady Around $1,190 While China Merchants Bank Rolls Out Tokenized Fund

BNB held near $1,200 on Wednesday, down 0.5% after slipping from a recent all-time high amid a market-wide crypto liquidation that wiped out roughly $500 billion. The token bounced from $1,145 to $1,237, suggesting buyers remain active despite broader macroeconomic uncertainty.

BNB Chain and Binance have launched multiple measures to restore confidence. A $45 million airdrop in collaboration with PancakeSwap and Trust Wallet rewarded community members, while Binance unveiled a $400 million “Together Initiative” aimed at reinforcing user engagement and trading activity.

Binance’s stablecoin reserves also rose to $44.6 billion, a $3 billion increase since the start of the month, signaling investors are holding liquidity rather than exiting the market.

Institutional participation added another layer of support. China Merchants Bank International (CMBI) tokenized its USD money market fund on BNB Chain, issuing two tokens, CMBMINT and CMBIMINT, for accredited investors via DigiFT and OnChain. Meanwhile, reports indicate that Hong Kong-listed China Renaissance is planning a $600 million crypto treasury focused solely on BNB.

Technical Overview
BNB has formed strong support between $1,190 and $1,195, absorbing selling pressure during pullbacks. Resistance remains near $1,215–$1,220, capping short-term rallies but leaving the broader recovery trend intact.

Trading volume surged during the rebound, more than doubling the 24-hour average, confirming renewed demand. Volume has since normalized near the upper range, suggesting a consolidation phase that could precede another upward push if sentiment remains steady.