BNB holder caution warranted as the SEC-Binance standoff intensifies

BNB still managed to achieve its highest weekly volume in the last 24 hours. This may explain why the price continued to rally although the lack of enthusiasm suggests that BNB bulls are pulling their punches.

BNB traders are now concerned that the aforementioned woes might suppress the cryptocurrency’s performance. Its on-chain data already confirms that BNB holder confidence has been declining since its 12 September peak. The weighted sentiment metric was at its lowest weekly point at the time of writing.Despite the dipping sentiment, BNB still managed to achieve its highest weekly volume in the last 24 hours.

BNB’s current scenario is reminiscent of how XRP struggled with low demand before the court’s ruling. Perhaps the biggest challenge right now is that Binance’s struggles might lead to its exit from the US market if it fails to meet the SEC’s requirements.

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