Binance Leads Market Despite BNB Bearish Trends
Key Takeaways
- Binance continues to dominate the spot market with a trading volume that surpasses all other exchanges combined.
- BNB (Binance Coin) shows weak short-term price performance despite this dominance.
- On-chain data and futures markets indicate a continued bearish sentiment.
- A price rebound up to USD 618 is possible if previous patterns repeat.
Binance Maintains Its Market Leadership
Binance remains the undisputed largest crypto exchange in the spot market. According to recent analyses, Binance’s trading volume exceeds that of all other exchanges combined. In comparison, its volume is eight times higher than Coinbase’s. This dominance becomes especially apparent during periods when overall market volume declines—yet Binance continues to grow.
Looking Back: Market Impact
In early 2024, a surge in Binance’s trading volume led to a significant price increase in Bitcoin and BNB. Bitcoin rose from USD 42,000 to USD 73,000 within a few weeks. At the same time, BNB climbed from USD 335 to USD 645. These developments highlight how Binance’s liquidity can strongly influence market movements.
Current Market Situation: BNB Under Pressure
Despite Binance’s continued dominance, BNB is currently showing weakness. Over the past seven days, the price has dropped by 3.5%. Major investors such as Gnomelabs recently sold 10,850 BNB worth USD 6.51 million. Additionally, over USD 76 million in USDC (USD Coin) has been deposited on Binance and Bybit—an indication of possible further sell-offs.
Futures Market Confirms Bearish Sentiment
A negative futures basis suggests that the expected future price is below the current spot price. This is a clear sign of pessimism among traders. The aggregated funding rate has also been negative for several days. This means short positions are dominating, and traders are betting on falling prices.
What’s Next for BNB?
In the short term, things don’t look good for BNB. If the current sentiment persists, a drop to USD 576 is possible. However, there are positive scenarios as well: if market conditions develop similarly to early 2024, BNB could rise again—initially to USD 618, with potential to reach USD 638.
Our Assessment
Binance’s market dominance is a strong indicator of future developments in the crypto market. Historically, periods of high activity on Binance have often been followed by upward trends in BNB. However, caution currently prevails. On-chain data and futures markets show a clear bearish trend. Those looking to invest in BNB should closely monitor the market and watch for signs of a trend reversal.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 2 minutes
-
Crash Games in Online Casinos: A Review of Games and Providers
Reading time: ~ 2 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 2 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 2 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 2 minutes
Sources
- CryptoQuant
- Coinalyze
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency