BNB Slips Below $860 as Traders Brace for U.S. Jobs Data

The price of BNB saw sharp intraday swings over the past 24-hour period as it continued to drop from an all-time high of $900 seen late last month. Over a 24-hour window, the asset traded between $849.88 and $868.76, a 2% move that began with bullish momentum but ended with signs of fatigue near resistance. The volatility follows filings with the U.S. Securities and Exchange Commission by REX Shares late last month, along with the rise of BNB-focused treasury firms. The latest, B Strategy, aims to hold up to $1 billion worth of BNB with backing from the investment firm led by Binance co-founders Changpeng Zhao and Yi He. While BNB failed to hold on to its gains from earlier, underlying network activity surged. Daily active wallet addresses on BNB Chain more than doubled, climbing to near 2.5 million according to DeFiLlama data. Yet, transaction volumes have been dropping steadily since late June, data from the same source shows. BNB’s price drop also comes ahead of key economic data from the U.S. this week, including surveys of manufacturing and services…