Binance Coin (BNB) has fallen below $500, with its price dropping from a high of $537 to a low of $496.
Activity on the BNB Chain has sharply declined, including a 75.8% drop in DEX volumes.
As the global crypto market faces a downturn with Bitcoin (BTC) slipping to the $55K zone, Binance’s native cryptocurrency, BNB, is not immune to the turmoil. According to CMC data, BNB has fallen over 7.64% in the past 24 hours, dipping from a high of $537 to a low of $496.
At the time of writing, BNB is priced at $501.90 with a market cap of $73.24 billion, holding the 4th position in the market. Despite the price drop, BNB’s daily trading volume has increased by over 14%, reaching $1.73 billion.
However, this uptick in trading volume does not fully offset the decline in price. BNB’s value has decreased substantially from its recent peak of $598.80 on August 23, reflecting a 17.12% drop by September 4.
Further, this drop in BNB’s price reflects a broader decline in activity
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