Binance Coin (BNB) experienced a minor setback this week, losing 1.5% in value amid market turbulence. Despite holding critical support, BNB was overtaken by Solana (SOL) in market capitalization — a significant shift in the race for crypto dominance.
BNB Faces Resistance at $770
Earlier this week, BNB attempted a breakout near $780, but heavy selling pressure caused a swift rejection at the $770 resistance level. According to CoinDesk Research, a $34.87 trading range formed quickly, with nearly 12,000 BNB tokens traded in a single hour — suggesting institutional liquidations and panic-driven retail activity.
BNB is now trading around $765, holding above the $745.75 key support level. Technical charts indicate rejection candles at resistance, which often precede short-term bearish reversals. However, the bulls are attempting to regain control with defensive buying near the lower range.
Solana Surpasses BNB in Market Cap
As BNB stumbled, Solana (SOL) rallied 3.5%, pushing its market cap to $109.3 billion — surpassing BNB’s $106.6 billion. This marks a notable shift in investor sentiment as SOL continues to benefit from strong developer activity, institutional integrations, and on-chain momentum.
This flippening marks the first time in months that BNB has dropped to the fourth-largest crypto by market cap.
Binance Maintenance & Corporate Accumulation
Adding to market tension, Binance announced a temporary pause in BNB Smart Chain withdrawals for scheduled wallet maintenance — news that may have caused short-term fear among traders.
Interestingly, Nano Labs, a major corporate entity, increased its BNB holdings to 120,000 tokens, valued at approximately $90 million. This signals growing institutional confidence in BNB’s long-term value, even amid price weakness.
Outlook: Can BNB Regain Momentum?
While BNB remains under pressure, its strong corporate accumulation, along with Binance’s ecosystem dominance, provides a potential floor. However, without reclaiming the $770–$780 resistance, further downside remains possible.
SOL’s rise may inspire portfolio rebalancing across institutional desks, shifting weight from older ecosystem tokens to newer layer-1 networks.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.