Binance Coin (BNB) – Whales Hedge Short, Eyeing Breakout Above $700

Binance Coin (BNB) is trading at $675.05, demonstrating strength near key technical levels despite increased short positions among large traders. This surge in activity, attributed to whale hedging strategies, is accompanied by a significant spike in on-chain engagement, signaling robust network activity. Market analysts suggest this could be a classic hedge rather than a bearish stance.