Binance Coin (BNB) Shows Resilience After ATH Pullback, $1K Target Still in Play
Binance Coin (BNB) has experienced a 4.37% retracement after reaching an all-time high (ATH) of $861, which triggered $200 million in Open Interest liquidations. Despite this pullback, the token has demonstrated strong resilience, bouncing 1.52% intraday from the $800 support level. This suggests robust bid absorption and a favorable 2:1 bid-ask imbalance in the order book. With five consecutive weeks of gains propelling BNB from $600 to its recent peak, the $1,000 target remains a realistic possibility for the cryptocurrency.
BNB’s Price Cools Off After ATH, but $1K Target Remains in Sight
Binance Coin (BNB) has retreated 4.37% after hitting an all-time high of $861, triggering $200 million in Open Interest liquidations. The pullback follows five consecutive weeks of gains that propelled the token from $600 to its recent peak.
Market structure shows resilience at the $800 support level, with a 1.52% intraday bounce suggesting strong bid absorption. Order book data reveals a 2:1 bid-ask imbalance (66.5 million bids vs. 33.5 million asks), indicating accumulation by bullish traders anticipating another leg up.
The $1,000 psychological target remains achievable if BNB maintains above $800. Such consolidation could mirror previous re-accumulation phases before breakout rallies.
Retail Investors Dump Bitcoin as Whales Accumulate Ethereum
Retail investors are offloading Bitcoin at an accelerated pace, while large ethereum holders are doubling down on their positions. The divergence in market behavior underscores shifting sentiment between the two leading cryptocurrencies.
On-chain data reveals a surge in Bitcoin deposits to Binance, with short-term holder inflows spiking from 10,000 BTC to over 36,000 BTC in late July. This movement typically precedes sell-offs, particularly after price rallies. The trend coincided with Bitcoin's retreat from local highs around $114,000 in early August.
Ethereum tells a different story. Whales withdrew more than $900 million worth of ETH from exchanges on July 31, signaling long-term accumulation. Such large-scale movements into cold storage suggest institutional players are positioning for future upside.
The strategic split emerges against a backdrop of monetary policy uncertainty. The Federal Reserve's decision to maintain interest rates has created a complex environment for digital assets, with market participants adopting markedly different approaches to BTC and ETH exposure.
Solana and Binance Coin Vie for Altcoin Dominance as New Contender Emerges
Solana (SOL) and Binance Coin (BNB) are locked in a fierce battle for market share, with traders speculating whether either can challenge XRP's position. SOL trades at $177.15 while BNB holds at $795.24, but attention is shifting to Remittix—a DeFi project dubbed 'XRP 2.0'—poised to launch with real-world utility.
Market dynamics reveal contrasting trends: BNB's market cap stands at $110.8 billion despite a 1.34% gain, while SOL's $95.31 billion cap accompanies a 0.69% dip. Liquidity favors Solana, with trading volume up 4.96% to $5.63 billion, whereas BNB's volume declines 19.5%, signaling short-term caution among investors.
The rise of utility-driven projects like Remittix underscores a broader shift in crypto valuations. Layer 1 chains dominate discourse, but disruptive newcomers leveraging tangible use cases could redefine the hierarchy.
Senator Warren Urges Banking Regulator to Probe Trump Family's Crypto Ties
US Senator Elizabeth Warren, alongside Senators Chris Van Hollen and Ron Wyden, has called for an investigation into potential conflicts of interest involving the Trump family's cryptocurrency ventures. The lawmakers are pressing the Office of the Comptroller of the Currency (OCC) to scrutinize the ties between President Donald Trump's business interests and the stablecoin USD1.
USD1, launched by Trump-linked platform World Liberty Financial, is central to a $2 billion deal involving MGX and Binance. The senators warn the stablecoin poses an "unprecedented conflict of interest" given its proximity to the presidency. Their letter to OCC head Jonathan Gould highlights concerns over the GENIUS Act's failure to prevent financial self-dealing by political figures.
The inquiry underscores growing regulatory scrutiny of crypto's intersection with political influence. Stablecoins, now under OCC oversight, face heightened examination as vehicles for potential abuse.
Cryptocurrency Markets Stumble Amid Trump Tariff Shock and Dollar Strength
Global cryptocurrency markets opened August under pressure as Bitcoin and Ethereum led a broad retreat. Bitcoin briefly dipped to $114,200 before recovering to $115,000, while Ethereum tumbled from $3,860 to $3,600. The sell-off coincided with the US Dollar Index surging past 100—its highest level since May—as investors sought safety amid renewed geopolitical tensions.
Liquidation data reveals the carnage: $758 million in positions were wiped out within 24 hours, with 93% representing long bets. Binance saw the single largest liquidation—a $13.79 million ETH perpetual contract. Market sentiment hovered in neutral territory, leaving traders questioning whether this marks a temporary setback or the start of a deeper correction.
The dollar's resurgence and Trump's aggressive tariff announcements created a perfect storm for crypto assets. Trading volumes spiked 12% to $195 billion even as total market capitalization slipped 4% to $3.74 trillion. Ethereum's sharp pullback proved particularly striking given its status as last month's standout performer.
Binance Alpha Listing MOMOFUN: Key Dates and Airdrop Eligibility
Binance continues to drive innovation in the crypto space with its Alpha Listing of MOMOFUN, offering traders early access to emerging tokens. The announcement includes critical dates for trading and details on airdrop eligibility, reflecting the exchange's commitment to user engagement.
Market participants are closely monitoring this development, as Binance's Alpha Listings historically generate significant trading volume. The airdrop component adds an additional LAYER of incentive, potentially creating near-term demand for the new token.
