BNB is trading at $622.36, consolidating near $620 after a sharp breakdown below the $690 support level. The Relative Strength Index shows recovery from oversold levels, while the $690–$700 zone remains a critical resistance area for March. Network data indicates an average of 4.1 million daily active users and $7.8 billion in total value locked.
The token associated with the Binance chain is trading at $622.36, marking a 1.41% decrease over 24 hours. It serves as the primary form of payment for transaction fees and smart contract execution within the ecosystem.
Chart analysis shows BNB remains below its 50-day and 200-day moving averages, indicating a broader bearish trend. However, the Relative Strength Index has moved higher from near 30, suggesting declining selling pressure.
A recent post on X by the BNB Chain stated the network has 4.1 million average daily active users and a total value locked of $7.8 billion. The trading volume on the chain is reported at $26.6 billion.
These metrics indicate the BNB ecosystem is stable. The coin faces a critical support and resistance level entering March.
If bulls reclaim $690, momentum could increase toward the $720-$750 range. A failure to hold support at $600 would expose the price to further downside risk toward $580.
