BNB Records 4% Dip Amidst Positive Regulatory Trends

There have been some positive developments around crypto regulations, but Binance Coin (BNB) is still facing intense selling pressure. The coin’s price has dropped almost 4% within the last 24 hours, suggesting market tension and volatility.

Mixed Market Sentiments Force BNB Price Dip

BNB is likely rattled by renewed global trade tension and broad market volatility overshadowing the newly established positive regulatory landscape. 

The coin traded at $672.53 and then dropped to $646.27, a 3.9% dip within 24 hours. This coincided with an acceleration in selling during high-volume trading hours, as traders reacted to macroeconomic developments. 

At the time of this writing, BNB traded at $658.17, corresponding to a 1.79% drop in the last 24 hours. Its trading volume is 10.71% lower than its previous 24-hour level, at $1.75 billion. Also, BNB’s market cap is at $92.7 billion.

One macroeconomic development is President Trump’s new tariffs on Canada and Mexico. This news ignited a shockwave across the financial markets, including the crypto sector. This is evident in BNB’s underperformance. Although not peculiar to Binance Coin alone, it remains one of the altcoins most affected in the past month.

BNB Price Spike as BNB Smart Chain Sees Strong Demand 

About a week ago, BNB was doing better than it is currently. BNB saw a 13% increase from its lowest this month on May 25, reaching $660. At the time, BNB Smart Chain was experiencing strong demand, and this growing interest contributed to sustaining the bullish momentum. 

Within 30 days, the BNB Smart Chain successfully processed over $100 billion in trading volume across all its Decentralized Exchanges (DEXs). This outweighed the record set by both Solana (SOL) and Ethereum (ETH). For context, ETH saw only $67 billion in volume while SOL registered up to $97 billion.

SEC Dismisses Lawsuit Against Binance 

Generally, the Binance ecosystem has seen some strong positive sentiments, even with the US Securities and Exchange Commission (SEC). From urging a U.S. federal judge to send a securities-related class-action lawsuit into private arbitration, the exchange had the SEC dismiss its lawsuit against it.

This was a joint decision between both entities. Since the case was dismissed with prejudice, the agency will not be able to pursue future filings of this matter.