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BNB's price holds above $900 after slight gain but fails to break key resistance
Yahoo Finance· 2026-01-13 13:12
Core Insights - BNB, the native token of the BNB Chain, is currently trading at $908, reflecting a modest increase of approximately 1% in the last 24 hours, aligning with the broader CoinDesk 20 index which gained 0.95% during the same period [1] Market Activity - Trading volume for BNB has increased by 21.74% compared to the seven-day average, indicating heightened market engagement despite muted price action [2] - BNB faced resistance near $910 before retreating, suggesting active selling at higher levels, with the price consolidating just above the $900 support zone, indicating a short-term stalemate between bulls and bears [2] Technical Developments - The recent activation of the Fermi hard fork on the BNB Smart Chain has reduced block times from 0.75 seconds to 0.45 seconds, enhancing throughput and finality, which is expected to facilitate more complex decentralized applications and alleviate congestion during peak activity [3] Institutional Interest - Institutional interest in BNB is on the rise, highlighted by Grayscale's recent filing for a BNB exchange-traded fund (ETF), which could provide investment options for those hesitant to engage directly with cryptocurrency [4] - The BNB Chain Foundation has initiated a $100 million liquidity program to incentivize token purchases in sectors such as DeFi, gaming, and AI, and allocated $200,000 to several smaller projects ahead of the Fermi upgrade [4] Price Resistance - BNB continues to trade below the significant resistance level of $910, with analysts monitoring for a decisive move above $931 to confirm upward momentum, while the token remains range-bound as market participants assess technical signals against broader macro and regulatory developments [5]