BNB Flips Solana’s Market Cap Amid Market Retrace – Breakout To $700 Coming?
Summary
BNB has surged 9%, surpassing Solana to become the fifth-largest cryptocurrency by market cap at $96 billion. The crypto market experienced a retrace, with Bitcoin dropping to a one-week low of $94,000 and most top cryptocurrencies declining. BNB reached a 12-day high of $689 after recovering from a low of $500, marking a 34% increase from recent lows. Analysts suggest BNB is approaching a critical resistance zone between $660 and $680, with potential for a breakout that could reclaim the $700 level. On-chain data indicates BNB processed 68.3 million transactions in the past 30 days, making it the leading EVM chain. Current trading stands at $687, reflecting gains of 7.2% daily and 21% weekly.
