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The BNB price has soared 17% in the last 24 hours to trade at $1,356 as of 4:00 a.m. EST on a 74% increase in the daily trading volume to $11.89 billion.
That price surge comes as Binance prepares to pay $283 million in compensation to users affected by the Oct. 10 flash crash that caused several assets including Ethena’s USDe stablecoin, BNSOL, and WBETH to depeg.
Market data shows that USDE, BNSOL, and WBETH experienced severe depegging events on Binance early today. USDE plunged to as low as $0.6567, BNSOL fell to $34.9, and WBETH dropped to $430.65 at the lowest point. Binance has responded to the incident, stating that the team is… pic.twitter.com/QLS6H1PfnH
— Wu Blockchain (@WuBlockchain) October 11, 2025
Ethena’s USDe, intended to stay at $1, briefly fell below $0.66 on Binance, although its price remained steadier on other major venues. The main trigger appears to have been a rapid wave of liquidations, set off by macroeconomic news and panic selling, rather than any technical malfunction on Binance itself.
This isn’t looking good for Binance😳
New reports suggest the exchange may have been underreporting liquidations by up to 100×.
Jeff Yan, founder of $HYPE (Hyperliquid), claims Binance and other major CEXs are masking the true scale of liquidations by bundling multiple events… https://t.co/DeNcmMvhaY pic.twitter.com/Ajw1QbsF9d
— Cowboy (@CryptoCowboy_AU) October 13, 2025
On-chain data showed a heavy cluster of forced liquidations between 21:36–22:16 UTC, while macro news, including policy moves and global tensions, had already sparked a market-wide sell-off minutes earlier. The event coincided with a record $20 billion crypto liquidation, one of the largest single-day selloffs in history.
To address the fallout, Binance agreed to compensate users who suffered verified collateral losses in futures, margin, and loan accounts.
BNB Price On-Chain Impact And Market Reaction
On-chain signals since compensation was announced show mixed emotions. Data reveals a spike in both trading activity and wallet transfers, as users quickly moved assets and rebalanced holdings after the event.
Activity on the Binance Chain has accelerated, with more users monitoring token stability and risk controls than ever before. While some USDe, BNSOL, and WBETH holders rushed to redeem or reposition, others took advantage of the temporary price drops.
BNB Transaction Count Source: Token Terminal
Binance has now added new reference index protections and a soft price floor for USDe to help protect users in the future. The company has also pledged to process all support cases manually for those not covered automatically, though customer service is reportedly overwhelmed with requests right now.
BNB Price Targets $1,416 As Next Major Resistance Level
BNB has once again pushed higher, defying wider uncertainty in the crypto market. BNB currently trades near $1,354 after hitting a weekly high of $1,360, marking a sustained recovery from the crash lows.
Technical analysis from the weekly chart shows that BNB is sitting well above its major moving averages. The 50-week SMA stands at $731.95, and the crucial 200-week SMA is at $456.42. The nearest support level for the coin price is the $730–$750 region, closely tied to the 50-week SMA. The longer-term support is around $456.
After bouncing off support near $730, BNB’s price has powered higher, breaking above key Fib retracement levels. This bullish step puts $1,297 (3.618 Fib level) and $1,416 (the major resistance area from extended Fibonacci projections) as the next key hurdles.
BNBUSD Analysis Source: Tradingview
Technical momentum remains hot. The RSI (Relative Strength Index) sits in overbought territory at 81.78, which warns that the price could see a short-term cool-down or sideways action before making its next big move.
Meanwhile, the MACD is deeply positive, with a strong divergence supporting the uptrend. The ADX at 43.1 confirms a powerful trend, but also signals that volatility may be ahead.
The BNB price has been making higher highs and higher lows since the bounce in late 2024 as well. Bulls are in control as long as BNB remains above $1,250–$1,280. Should profit-taking set in, downside is protected by a strong cluster of buyers near $1,200 and, if broken, a test for support at $1,050–$1,100 could follow before a new uptrend forms.
If positive momentum holds and higher risk appetite returns, a close above $1,360 opens the door to a potential move towards $1,416 in the coming weeks. Otherwise, traders will look for dips as fresh entry points, as long as the BNB price holds above the $1,200 support.
BNB remains one of the best-performing coins, outpacing most other large caps thanks in part to strong management response and improving ecosystem sentiment.
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