BNB is trading in a range today around 565 to 573u. The previous close was 579u, and it pulled back earlier today.

In the broader market, risk appetite has been returning over the past two days. BTC has risen above 65,000u, and the Nasdaq is also up, but BNB hasn’t kept up today—instead, it’s showing weaker performance.

There’s some data on a certain BNB Chain over the past two days: 24-hour fee revenue is $220k, and the project team’s net revenue is $22,200. It’s basically at a normal level—nothing particularly special.

On the price side, over the past 12 months it has fallen by nearly 18%. The 52-week high reached 1,373u, and now it’s down by nearly 60%. The magnitude of that drop is right there.

The BNB Chain automatic burn mechanism is still carried out on a quarterly basis. The amount burned is dynamically adjusted based on price and block volume, so this long-term deflationary logic hasn’t changed.

In the short term, the situation in the Middle East is still uncertain, and market sentiment remains cautious. BNB has been running behind the broader market over the past two days, which suggests that capital hasn’t fully returned to this coin yet#bnb $BNB