BNB, the cryptocurrency token issued by Binance, fell below 760 USDT, trading at approximately 757.81 USDT as of July 23, 2025. This represents a 2.38% decline over the past 24 hours, indicating a slight downward shift in value.
The price drop followed a volatile trading period during which BNB’s value slipped from a high near 780 USDT earlier in the week. Institutional selling pressure contributed to the decline, as did increased trading activity with nearly 12,000 tokens exchanging hands in one hour, reflecting a wave of liquidations around the 760 USDT support level.
This downturn allowed Solana’s token, SOL, to surpass BNB in market capitalization for the first time in this period. SOL rose by 3.5% over 24 hours, reaching a market cap of $109.3 billion, compared to BNB’s $106.6 billion.
In related developments, Binance temporarily suspended BNB Smart Chain withdrawals on July 23 for wallet maintenance, lasting about 30 minutes.
Additionally, blockchain firm Nano Labs increased its BNB holdings to 120,000 tokens, valued at roughly $90 million.
The broader cryptocurrency market on July 23 saw mixed performances, with BNB facing a decline, while some other tokens like Solana showed gains.
