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

The cryptocurrency market experienced a massive shock on Friday, October 10 following President Donald Trump’s announcement of a 100 per cent tariff increase on Chinese imports, coupled with new export controls on critical software. After this market turmoil, on Saturday, BNB traded above $1,130, down 9.6 per cent, in line with the broader market crash that erased $19 billion globally in crypto liquidations over 24 hours. Key market data suggests BNB displayed greater resilience than many rival layer-1 tokens and may be better positioned for an early rebound.

BNB’s price movement

BNB retraced from all-time highs of $1,330 on Monday to a weekly low of $1,043 during Friday’s sell-off, before rebounding to $1,132 at press time. Notably, the intraday loss of 9.6 per cent was larger than its 7-day decline of only 1.7 per cent, indicating strong buying pressure at key psychological levels as weaker positions exited the market.

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

Why BNB is holding its ground above $1,000?

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

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

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