Crypto market plunges $19 billion: How BNB stayed stable above $1,000 amid the crash

The cryptocurrency market received a major shock on Friday, October 10, after President Donald Trump announced a 100 percent tariff increase on Chinese imports and new export controls on critical software. Following this market turmoil, BNB on Saturday traded above $1,130, down 9.6 percent, in line with the broader market crash that wiped out $19 billion globally in crypto liquidations in 24 hours. Key market data shows BNB has more resilience than many competing tier 1 tokens and may be better positioned for an early recovery.

Price action of BNB

BNB fell from an all-time high of $1,330 on Monday to a weekly low of $1,043 during Friday’s sell-off, rising to a high of $1,132 at press time. Notably, the 9.6 percent intraday loss was larger than the 7-day decline of only 1.7 percent; This suggests strong buying pressure at key psychological levels as weak positions exit the market.

According to CoinMarketCap, BNB’s limited decline places it alongside Bitcoin (-7.69%) as one of the top five cryptocurrencies holding daily losses in the single digits despite historic liquidations.

Why does BNB continue to remain above $1,000?

BNB’s ability to maintain the $1,000 level during the October 11 crash can be attributed to many factors:

• Momentum from Recent Highs: Coinpeaker announced that the token has reached new all-time highs for three consecutive weeks, improving market sentiment.
• Exchange Token Demand: BNB, the native token of Binance, the world’s largest crypto exchange and second-largest DeFi ecosystem, benefits from trading fee discounts, staking, and network revenue, making it an attractive hedge during rising volatility.

While the publication highlights that these dual functions contribute to BNB’s stability during market stress, Coingecko’s data on the crypto exchange tokens sector also supports this narrative.