BNB falls below $650: Binance Coin at its lowest since August

BNB fell below $650 overnight into Friday and is trading at its lowest level since August 20. According to CoinGecko, the token of the Binance exchange cost $632.52 at 6:48 a.m. Central European Time on November 13, the equivalent of about €572, which is 6.2 percent less than 24 hours earlier. The decline is not specific to BNB. The entire crypto market is retreating, and Bitcoin has lost the $70,000 mark. Investors should now keep a close eye on leveraged positions, on where their coins are held and on the records of their purchases.

For BNB holders, this means part of the recovery after the Binance hack is fading again. On October 29, before the attack, the daily close still stood at $759. Since then, the token has lost around 17 percent, considerably more than in the first night after the incident.

BNB price at $632: down 6 percent in 24 hours

According to CoinGecko data, the range over the past 24 hours runs from $675.26 to $630.87. Over seven days, the token is down 8.8 percent, and its market capitalisation stands at around $83 billion. BNB is now 54 percent below its all-time high of $1,369.99, reached on October 13, 2025.

Among the large coins, BNB is falling roughly as much as Bitcoin (down 6.8 percent) and Ether (down 6.1 percent). XRP lost 2.6 percent over the same period, Tron 1.9 percent. Binance Coin is therefore not among the assets decoupling from the market; it is moving with the broad sell-off.

What BNB actually is

BNB is the token of the Binance ecosystem. It serves as the fee currency of BNB Chain, provides discounts on trading fees at Binance and gives access to new tokens listed on the exchange. Because so much of its utility depends on a single company, the price reacts more sensitively to news about Binance than most other large coins.

Bitcoin below $70,000: $1.2 billion in crypto market liquidations

Bitcoin is setting the pace. The leading cryptocurrency fell to around $68,550 according to CoinGecko, a drop of 6.8 percent in 24 hours. According to a report by crypto.news, citing CoinGlass data, positions worth $1.23 billion were forcibly closed across the crypto market within 24 hours. Other analyses put the figure at more than $1.3 billion; the numbers depend on the time window, so the range is $1.2 billion to $1.3 billion. Traders who had bet on rising prices were hit hardest.

crypto.news cites several triggers at once. Nvidia chief executive Jensen Huang stepped down on November 12, weighing on technology stocks. Stronger US inflation data raised expectations of a further interest rate rise by the Federal Reserve in December. And there were reports of an attack by Iran's Revolutionary Guards on a US radar installation in Bahrain, which the US and Bahrain had not confirmed at that point. On top of that came outflows from US spot Bitcoin ETFs: according to Farside data, $299.8 million left the funds on November 11, of which $269.7 million came out of BlackRock's IBIT.

Sentiment reflects this. The Fear and Greed Index from alternative.me stands at 20 points on Friday, in the "Extreme Fear" zone, down from 28 on Thursday. How Bitcoin itself might develop and which levels matter there is covered in our article on the Bitcoin price below $70,000 from earlier this morning.

Why altcoins swing harder in the downdraft

When Bitcoin falls sharply, many traders first sell the positions that are quickest to turn into cash. With BNB, a large share of trading also runs through leveraged futures. Every liquidation there creates a sell order that pushes the price lower and can trigger the next liquidation.

Binance after the hack: reimbursement complete, proof of reserves pending

Besides the overall market, what matters for BNB is the situation at Binance itself. The exchange was the target of an attack on October 29 in which, according to the company, crypto assets worth around $6.3 billion were drained; cryptoticker.io reconstructed the sequence of events overnight into October 30 in its article on the BNB price after the Binance hack. No BNB was stolen at the time, yet the token still fell 6.3 percent within 35 minutes.

On Thursday, according to a report by Bitcoin Magazine, Binance announced that reimbursement of the affected assets had been completed. The exchange said it used more than $6.34 billion of its own funds for this, drawn from the SAFU emergency fund, part of the futures insurance fund and corporate assets. Binance intends to replenish the SAFU fund to around $1 billion. Withdrawals are reopening in stages, starting with Bitcoin on November 1; according to the report, Binance has not yet published a complete timetable.

The proof of reserves for 198 tokens

A proof of reserves is a statement in which an exchange shows that it backs customer balances at least one to one with its own holdings. Binance has published a new snapshot for this purpose, taken on November 12 at 0:00 UTC, covering 198 tokens, up from 10 tokens in the snapshot of October 31. According to Bitcoin Magazine, the full zero-knowledge proof, which lets customers recalculate the backing themselves, is expected to take around 40 to 50 hours of computing time. Until it is available, the backing is a claim by Binance rather than a verifiable fact.

For the BNB price, this is a double-edged date. If the proof confirms full backing, a worry that has weighed on the token since the end of October disappears. If it is delayed or reveals gaps, BNB will be hit more directly than any other coin.

BNB since October 29: from $759 to $632

CoinGecko's daily closing prices show how the decline has played out. On the day of the attack, BNB closed at $759.10, and on October 30 at $697.10. In the first week of November the price oscillated between roughly $698 and $719, so it had absorbed the shock for the time being. From November 6 it slipped below $690, and on November 12 it closed at $679.30.

Last night's drop is therefore the second big step down within two weeks. Unlike at the end of October, the pressure this time is coming from the overall market rather than from Binance. For holders, the difference matters: a decline driven by the market can reverse with the market, whereas a question of confidence in the exchange tends to linger.

200-day moving average and August low: the key BNB price levels

To identify the levels, we analysed 201 daily closing prices from CoinGecko between April 28 and November 13, 2026. The average of the past 200 days, the 200-day moving average, stands at around $658. BNB is now trading clearly below it for the first time since August. The 200-day line is a moving average that many traders read as the boundary between an uptrend and a downtrend. The 50-day average is considerably higher at around $735.

On the upside, the levels are clear. First comes the broken zone around $650 to $658, then roughly $692, the closing price seven days ago. Above that, at $735, begins the area of the 50-day average in which BNB traded before the hack.

On the downside, the first level is around $627, the closing price on August 20. Below that lies the zone around $600, where BNB closed for several days in mid-August. The low of the period analysed dates from July 1 at around $546, roughly 14 percent below the current price. The high was around $799 on September 22. Price levels are not a forecast; they show where buying or selling took place in the past.

Leverage and liquidation in BNB futures: how quickly a position goes

A liquidation is the forced closure of a leveraged position when the collateral posted no longer covers the losses. A simple calculation shows how fast this can happen. Anyone who bet on a rising BNB price on Thursday at around $675, the high of the past 24 hours, with ten times leverage loses their entire stake if the price falls 10 percent. That corresponds to a price of around $608. Because exchanges also require a maintenance margin, liquidation kicks in earlier in practice, in this example above $610.

The move from $675 to $632 already amounts to a good 6 percent. With twenty times leverage, the position would already have been closed. Anyone trading with leverage should therefore know the liquidation price of every position and only commit money they can afford to lose. How derivatives providers differ on fees, leverage limits and collateral is shown in our comparison of perp exchanges.

BNB burn: 1.65 million fewer tokens in October

Supply is not the reason for the decline. The BNB Foundation completed its 37th quarterly burn on October 19. According to the BNB Chain blog, 1,646,196.44 BNB were destroyed, worth around $1.2 billion at the price at the time. Afterwards, 131,512,085 BNB remained in circulation. The long-term target of the Auto-Burn mechanism is 100 million BNB, so around 31.5 million tokens are still to go.

A token burn is the permanent removal of tokens from supply by sending them to an address that nobody can access. With BNB, the amount depends on the price and on the number of blocks produced in the quarter. In addition, part of the fees of every block is burned under the BEP-95 mechanism. The burn tightens supply over years, but in the short term it does little against a sell-off across the market, as last night showed.

Buying BNB in the EU: MiCA licence and custody

Anyone looking to use the decline as an entry point should look at the provider first. Since the end of 2024, the EU's Markets in Crypto-Assets Regulation, MiCA for short, has been in force. Providers with a MiCA licence must hold customer funds separately and are subject to supervision in the EU. In our price comparison of October 27, Kraken, Bitvavo and Bitpanda offered BNB under a MiCA licence; details on purchase price, fees and withdrawal network are in our guide to buying BNB. Which platforms are licensed overall is listed in our comparison of regulated crypto exchanges.

It also matters where the coins are kept afterwards. After the Binance hack, many investors withdrew their holdings from exchanges and moved them to a wallet of their own. Anyone withdrawing BNB must choose the right network: BNB on BNB Smart Chain is a different format from older variants, and a transfer to an address on the wrong network can be lost. A test amount before the actual withdrawal costs little and protects against expensive mistakes.

Fees and spreads account for a noticeable share of the cost when buying in falling markets. Our overview of the best crypto exchanges sets out the pricing models of the major providers side by side.

BNB below $650: the proof of reserves becomes the next test

In the short term, BNB depends on the overall market. US producer prices for October are due on Friday, and the next Federal Reserve meeting follows on December 9 and 10. For the token itself, the zero-knowledge proof for the Binance proof of reserves is the most important date of the coming days. Three steps make sense now:

1. Check your leverage: Know the liquidation price of every open position and reduce leverage if it is close to the current price. You can compare the fees and collateral of derivatives providers in our overview of perp exchanges.
2. Sort out custody: Buy and store BNB with a MiCA-licensed provider or in a wallet of your own. The overview of regulated crypto exchanges shows who is licensed in the EU.
3. Keep your records: Note the purchase date and price of every tranche before you sell, since gains and losses are calculated from them. Crypto tax tools help with this.

(As of November 13, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)