BNB Dips Post Breakout Failure, Key Support Level Steady as Firms Increase Exposure

BNB Retreats as Solana Overtakes in Market Cap; Institutional Accumulation Remains Steady

BNB slipped 1.5% over the last 24 hours to trade near $765, retreating from a recent high of $780 as volatility rattled the market and traders struggled to hold key support.

The decline has pushed Binance’s native token below Solana in market capitalization, with SOL rising 3.5% to $109.3 billion—surpassing BNB’s $106.6 billion and reshuffling the crypto leaderboard.

Intense intraday activity saw BNB carve out a $34.87 price range, driven by a wave of institutional selling. According to CoinDesk Research’s technical analysis, trading volumes surged to nearly 12,000 tokens in a single hour, coinciding with liquidation pressure around the $760 mark.

Early rejection at the $770 resistance level suggested strong selling activity, while buyers managed to hold the $745.75 support level, triggering a modest rebound. However, overall sentiment remained cautious amid market-wide weakness.

Despite the drop, institutional confidence appears intact. Blockchain infrastructure firm Nano Labs disclosed a significant increase in its BNB holdings, now totaling 120,000 tokens—valued at roughly $90 million—highlighting ongoing corporate interest in the asset.

Binance also announced a scheduled pause in BNB Smart Chain withdrawals for maintenance on July 23, expected to last approximately 30 minutes. While not price-moving, the update contributed to temporary trading uncertainty.