Thursday 5 Nov: $689.49 (-4.25%)
Friday 6 Nov: $693.74 (+0.62%)
Saturday 7 Nov: $696.19 (+0.35%)
Sunday 8 Nov: $684.32 (-1.70%)
Monday 9 Nov: $691.16 (+1.00%)
Tuesday 10 Nov: $680.55 (-1.53%)
Wednesday 11 Nov: $679.92 (-0.09%)
US spot BNB ETF
Top BNB Treasury Companies
BNB Chain
What it Means
BNB closed at about $679.92 on November 11, down about 5.6% from about $720.06 on November 4.
BNB lost 4.25% on November 5 in the AI stock sell-off, the worst day of the window.
BNB stayed above its 200-day average of about $658, unlike ETH and SOL.
Binance kept reopening withdrawals, its CFO Kaiser Ng stepped down and Binance Pool closed on November 10.
VBNB had no flows all week, and its net assets are about $90.6M.
Part of a seriesBNB closed at about $720.06 on 4 November and ended 11 November at about $679.92, a drop of about 5.6%. It lost 4.25% on 5 November during the AI and chip stock sell-off, the worst day of the window. After that it closed between about $680 and $696 every day while the hot US jobs and inflation data hit the markets. BNB stayed above its 200-day moving average this week, unlike ETH and SOL. Binance kept reopening withdrawals after the hack, their CFO stepped down, and they closed their Bitcoin mining pool on 10 November. There were no flows on VanEck’s VBNB all week.
Prices are UTC day closes from Coinranking. The closes on 10 and 11 November are from Coinranking’s hourly data at midnight UTC.
The worst day of the window. Investors sold AI and chip stocks, and the Nasdaq 100 had its worst day since March 2020. Crypto liquidations topped $1B in 24 hours (CoinGlass via CoinDesk).
Binance’s withdrawal update covered 69 network and asset pairs: 62 tokens across 6 networks including BNB Smart Chain (Binance via Ad-hoc News).
VBNB: no flows. Net assets were $91.28M (TokenPost).
The 165,000 US jobs gained in October, against 59,000 expected, surprised the market, and bets for a December Fed rate hike rose. Binance said it hoped to restore the final 6 tokens and more network pairs the following week (CryptoBriefing via Ad-hoc News).
VBNB: no flows.
Best closing price for the window.
Binance CFO Kaiser Ng said in a LinkedIn post that he will leave after five years to start his own company. Justin Yek, who joined from Airwallex in May, will take over the finance team. Co-CEO Yi He said the change was part of a six-month transition plan (Dataconomy, 10 Nov).
Withdrawals reopened for HYPE and APT, after earlier batches of Ethereum and Solana tokens. Binance said more assets will follow once security checks are done (TokenPost).
BNB was down 2.83% to $679.12 at 07:47 UTC. It was below its 7, 20 and 50-day averages, but above its 200-day average at about $658 (Blockchain.News).
VBNB: no flows. Net assets were $90.92M.
The CPI came out at 0.4% versus expected 0.3%, core CPI came out at 0.3% versus expected 0.2%, and BNB dipped to about $671 on an hourly basis in the afternoon (UTC) before recovering (Coinranking).
Binance shut down Binance Pool, its Bitcoin mining pool, at 07:00 UTC, as well as Cloud Mining and the Transaction Accelerator. It called the move part of a routine review of its products (Decrypt).
VBNB: no flows. Net assets were $89.09M.
BNB was trading at around $681.50 during the day (Investing.com via Ad-hoc News).
VBNB: no flows, the sixth straight session with none. Net assets were $90.57M, about 0.10% of BNB’s market cap (TokenPost).
VanEck’s VBNB is the only US spot BNB ETF. It had no flows from 5 to 11 November, and its only flow since 19 October was -$271,006 on 3 November. Net assets are about $90.6 million.
There were no new holdings in the sources checked this week. BNB Standard (BNC) holds about 515,544 BNB, Nano Labs (NA) about 128,000 BNB and The Brooker Group about 43,000 BNB (BitcoinTreasuries, CoinGecko).
Jenner is still set for mainnet on 8 December. There was no BNB burn this week, and the circulating supply is about 131.51 million BNB.
Over a similar week, BNB fell about 5.6%, compared to about 10% for ETH and SOL, and stayed above its 200-day average. Binance’s recovery work continued all week: more withdrawals reopened, there was a change at finance leadership and they shut down a business line. Still, no one is buying through the ETF. Support is at about $671, then about $658 to $663 (the 200-day average). Resistance is at about $695, then about $710 (Blockchain.News). Upcoming: the last withdrawal restorations, Binance’s independent security review, the Fed minutes (18 November), PCE inflation (25 November), the Fed decision (9 December) and Jenner on mainnet (8 December).
Data and sources: Prices from Coinranking and Investing.com; ETF data from SoSoValue via TokenPost; Binance updates from TokenPost, Dataconomy, Decrypt, CryptoBriefing, The Block and Ad-hoc News; levels from Blockchain.News; market news from CoinDesk; treasuries from BitcoinTreasuries and CoinGecko.
India Crypto Research operates independently. The information presented herein is intended solely for educational and informational purposes and should not be construed as financial advice. Before making any financial decisions, it's essential to undertake your own thorough research and analysis. If you're uncertain about any financial matters, we strongly recommend seeking guidance from an impartial financial advisor.
