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Binance Coin (BNB) Drops Below $300: New 3-Month Low

Breaking Binance Coin (BNB) Drops Below $300: New 3-Month Low

For the first time since March 2023, the value of BNB Coin has dipped below the $300 mark The number of active users on the BNB chain has been experiencing a decline since June 1. A sudden wave of sell-activity among large Investors on Monday morning appears to be the main driver behind the ongoing BNB price drop.

BNB saw its price move below $300 for the first time since March 13, 2023. The native coin of the largest crypto exchange in the world, Binance, has seen its price decline by nearly 4% in June alone.

While BNB is still up 22% for the year, the fourth-largest cryptocurrency by market capitalization has finally broken through its $300 price support. The critical support area had been tapped several times before. Proving to be a strong zone of support.

However, current market conditions have seen the price decline 14% since reaching its yearly high of $350 on April 16, 2023.

This is a developing story….


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.