BNB trading volume surged by more than 65% on July 31, with the token trading near the $589 to $590 range. Derivatives data shows open interest close to $950 million and long-to-short ratios above 1.9. Price was attempting to hold above the 50-day and 100-day exponential moving averages, with traders watching the psychological resistance level at $600. This volume increase reflects heightened market activity but does not confirm a recovery in Binance’s business operations. BNB’s next move will depend on whether this trading volume converts into sustained buying pressure or if current positions become overleveraged.
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