BNB, the native token of BNB Chain, fell back to $1,067 in a volatile trading session that saw it initially surge to $1,112 on almost three times higher trading volume than usual.
The token then reversed within hours according to CoinDesk Research’s technical analysis data model. The spike, driven in part by speculative flows, faded as profit-taking and security fears set in, sending the price down to test support at $1,055.
BNB Chain itself, however, has shown signs of structural momentum. According to Tim Sun, a senior research analyst at HashKey Group, the network’s recent growth, particularly in memecoin launches and perpetuals trading, signals a maturing onchain ecosystem.
“BNB’s resurgence signals a structural shift across the crypto industry,” Sun said in an emailed statement. “Users are valuing transparency and fairness, and mainstream platforms are evolving in their attitudes.”
Sun also pointed to lower fees, faster onboarding and growing user trust in open systems as key drivers of engagement and noted the evolving stance of crypto founders, who are becoming more open to supporting onchain experimentation, especially around meme culture. That openness, he said, could fuel the next phase of growth in the industry.
In technical terms, BNB has bounced between support at $1,055 and resistance near $1,112, forming a tight consolidation pattern.
The most recent price action suggests buyers are attempting to absorb selling pressure around the $1,068 mark, with brief rallies capped at $1,072.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Source: https://www.coindesk.com/markets/2025/10/22/bnb-drops-below-usd1-100-as-memecoin-activity-and-perpetuals-fuel-chain-growth
