BNB Drops Under $860 as Markets Brace for U.S. Jobs Release

BNB traded in a roughly 2% intraday range, fluctuating between $849.88 and $868.76 over the past 24 hours. Early bullish momentum faded as the token ran into resistance near $868.

The volatility follows filings with the U.S. Securities and Exchange Commission by REX Shares and the emergence of BNB-focused treasury firms like B Strategy, which aims to hold up to $1 billion in BNB with backing from Binance co-founders Changpeng Zhao and Yi He.

On-chain activity surged, with daily active wallet addresses on BNB Chain more than doubling to 2.5 million, according to DeFiLlama. However, transaction volumes have steadily declined since late June, highlighting uneven network engagement despite institutional interest.

BNB is also navigating macro pressure ahead of U.S. economic releases, including manufacturing and services surveys and August payroll figures, which could influence expectations for a potential Federal Reserve rate cut.

Technical Snapshot

BNB jumped from $860.30 to $868.08 but encountered heavy selling at $867–$868, establishing a key resistance level. Volume peaked at 72,000 tokens, above the 54,000-session average. The token retraced to $850–$855, with dips to $851.40 triggering volume spikes and confirming demand at lower levels.