BNB has dropped 6.5% since its all-time high.

BNB price has experienced a decline of %6.5 in the last 24 hours, underperforming compared to Bitcoin and the overall crypto market during this period.

Market sell-offs led to the liquidation of 16 million dollars worth of BNB positions. This occurred after BNB Chain announced a 45 million dollar fund to stabilize the market and support affected investors.

Despite the market downturn, companies' BNB holdings continue to increase. China Renaissance aims to raise 600 million dollars to establish a publicly traded crypto treasury focused solely on BNB.

After the market saw the erasure of 500 billion dollars in value, BNB quickly rebounded to exceed 1,350 dollars, reaching a new all-time high. However, this period seems to have come to an end, as it has experienced a decline of %6.5 in the last 24 hours. During this time, Bitcoin dropped by %1.9, and the overall crypto market, measured by the CoinDesk 20 (CD20) index, lost %2.9 in value.

BNB's weak performance can be associated with profit-taking and portfolio balancing. BNB fell from 1,286 dollars to 1,165 dollars, and the crypto market has entered a sensitive recovery phase following a sharp sell-off. According to CoinGlass data, 16 million dollars worth of BNB positions were liquidated in the last 24 hours.

To mitigate the impact on market users, BNB Chain announced a 45 million dollar fund aimed at supporting over 160,000 affected investors. Market makers Wintermute stated that the selling was closely synchronized and tested the limits of perpetual contract trading platforms. Additionally, they mentioned, "severe price movements quickly led to the loss of liquidity from the broader market."

Nonetheless, institutional BNB accumulation continues. The investment bank China Renaissance, trading in Hong Kong, is attempting to raise 600 million dollars to create a publicly traded crypto treasury solely focused on BNB. This structure is set to be established in the United States and is considered one of the largest public investments to date. Furthermore, other listed entities such as CEA Industries have increased their BNB holdings to 480,000 tokens.

The agreement is supported by Changpeng Zhao's 10 billion dollar family office YZi Labs. Zhao recently hosted a private dinner in Singapore for invited investors to promote investment focused on BNB.