BNB Price Climbs in Strong Rebound as Trump-Musk Spat Uncertainty Fades

CoinDesk
CoinDesk
BNB-3.37%

BNB, the native token of the Binance ecosystem, staged a swift comeback after a jolt of market turbulence rattled the broader crypto market.

The coin rose more than 4% from this week’s low and is up around 0.7% in the last 24 hours, reversing from a dip to $631 to around $657 after forming a textbook V-shaped recovery pattern, according to CoinDesk Research's technical analysis data model.

The rebound came as the uncertainty associated with a flare-up between U.S. president Donald Trump and Tesla CEO Elon Musk that triggered a sell-off for risk assets started fading.

BNB Chain’s fundamentals have been improving. Daily active users jumped 26.4% to 1.2 million, while revenue in Q1 2025 grew 58% from the previous quarter to $70.8 million, according to a Messari report.

Technical charts show BNB hit resistance around $657 after heavy buying at the $650 level. A critical pivot now lies at $654, with traders eyeing U.S. inflation data, due to be released this Wednesday, for cues on the next move.

Meanwhile, Binance is leaning into innovation. Its June 9 hackathon opened new tracks in decentralized science and physical infrastructure.

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.

Visit source
20.48K
0
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.