Why is $BNB price down today? #BNB $536.1 -5.57% BNB (BNB) price is turning down again after a three-day rally that saw it hit a high of $590 on July 1. BNB has fallen to an intra-day low of $552 on July 3 after dropping 3.75% over the last 24 hours. BNB’s performance has been bearish over the last month, with the layer-1 token falling 12% over the last 30 days and is at risk of deeper corrections. Let’s look at the factors that could potentially send BNB lower. Decreasing activity on BNB Chain BNB’s latest price drop follows a decrease in the onchain activity as more users engaged less with the network, contributing to the decreasing momentum. Data from DefiLlama reveals a decreasing total value locked (TVL) on the network fueled by BNB’s 12% drop over the last month. The chart below shows that BNB Chain’s TVL decreased by 11% from $108.82 billion on June 6 to $96.75 billion on July 3, suggesting that users and developers are interacting less with the network. Although the BNB Chain remains a powerhouse among layer-1 blockchains, data from DappRaddar shows that its DApp volume has decreased by 25% over the last seven days. Decentralized applications, or DApps, are essentially blockchain-based smart contract-powered versions of apps popularized by the Ethereum network. They utilize smart contracts to facilitate trading and user interactions. Currently, BNB’s seven-day DApp volume stands at $3.13 billion, which is far below that of the Ethereum blockchain ($71.78 billion) and the Tron network ($5.02 billion). Notably, the DApp transaction volume also dropped by 3.52%, and the NFT volume decreased by 42% over the same period. This data indicates a drop in NFT trading and staking, significantly impacting the volume decrease. Moreover, token trading on the blockchain trended lower over the week. Consequently, there was a noticeable decrease in the network’s unique active wallets (UAW), a measure of user engagement and activity. This metric has decreased more than 18.6% over the last seven days to 1.16 million UAWs. Binance see a drop in its market share Binance crypto exchange appears to be losing market share as regulatory challenges in the United States and Nigeria continue to negatively impact its operations. After a wild legal ride in 2022 that ended with the former Binance CEO Changpeng Zhao being jailed and one of its executives being prosecuted in Nigeria, the exchange appears to be losing its market share. Data from CCData shows that Binance has been losing its market share to Bitget, Crypto.com and ByBit, which have had the largest uptick in their market share of 38.4%, 24.6%, and 22.2%. As a result, Binance crypto exchange saw a minor uptick of 6.0%. This is corroborated by data from CoinGecko showing that the daily trading volume on Binance has decreased by more than 83% from a high of $73.9 billion on March 6 to $12.3 billion on July 3. Related: SEC vs. Binance: Court rules BNB sales, cryptocurrencies not securities BNB price action invalidates the bull flag From a technical standpoint, today’s losses in BNB signify the invalidation of the altcon’s breakdown of a bull flag, triggered by a market downturn in the wider crypto market. At the time of publication, BNB price was fighting a possible return within the confines of the bull flag as the tip of the technical formation at $600 acted as immediate support. If this resistance line holds, the layer-1 token may drop toward the start of the flag at $600, down about 10% from the current price levels. In addition, the sharp drop in BNB’s daily relative strength index (RSI) from its overbought area of 81 to the current value of 57 suggests the market conditions still favour the downside. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
⚠️ Kho bạc Hoa Kỳ đã áp dụng các quy định về thuế đối với tiền điện tử
Bắt đầu từ ngày 1 tháng 1 năm 2025, tất cả các nền tảng lưu ký (chẳng hạn như Coinbase, Kraken, v.v.) phải thu thập và báo cáo dữ liệu giao dịch của khách hàng cho cơ quan thuế, tương tự như thông lệ hiện hành đối với các công ty môi giới.
Các quy tắc tương tự đã được lên kế hoạch cho #DEX và #DeFi , nhưng chi tiết triển khai vẫn chưa chắc chắn nên hiện tại chúng đã bị hoãn lại 😄
✔️Vào năm 2025, việc báo cáo và nộp thuế đối với tiền điện tử vẫn là trách nhiệm của khách hàng trao đổi. Tuy nhiên, bắt đầu từ năm 2026, cơ quan thuế sẽ bắt đầu phát hành hóa đơn thuế dựa trên dữ liệu nhận được.
💵Thuế áp dụng cho bất kỳ ai rút tiền ổn định có tổng trị giá từ 10 nghìn đô la trở lên hoặc bán #NFTs với giá ít nhất 600 đô la.
Những người đam mê tiền điện tử ở Mỹ có một lý do khác để bỏ phiếu cho Trump.
📊 Crypto Spot ETFs Will Have More Influence on Market's Price Action: Canaccord
The approval of bitcoin ($BTC ) and ether ($ETH ) spot exchange-traded funds (#ETFs ) is encouraging and while digital assets underperformed traditional assets in the second quarter, potential #ETF inflows could reverse the recent trend, broker Canaccord Genuity said in a quarterly report on Sunday. Spot #ETFs are expected to become a more meaningful part of crypto’s price action, analysts led by Michael Graham wrote.
🔵 Circle earns license to issue #USDC and #EURC under Europe's MiCA regulatory framework
Circle has become licensed and approved to issue stablecoins under the Markets in Crypto Assets (MiCA). Circle is the first global stablecoin issuer to become compliant with MiCA effective July 1, CEO Jeremy Allaire said in a Paris-based press conference. Circle will be able to issue its stablecoins USDC and EURC under the regulatory framework.
🔽June turned out to be the least active month of 2024 for crypto traders. The total trading volume on centralized exchanges amounted to $1.11 trillion.
Overall, this is not bad news. Experts believe that investor fear due to the recent market crash, which occurred with Bitcoin prices above $60,000, hints at an early stage of this bull run.
✔️ Therefore, the global growth of the industry may be far from its peak in the current cycle.