Binance and Tether Experience Decline Top Cryptocurrencies Face Challenging Start to the Week

CoinJee.com reported:
BNB and TON fell more than 3% in the previous trading day. These assets have seen an increase in the current trading period.
Over the weekend, many major cryptocurrencies, including Bitcoin (BTC), Binance Coin (BNB), and TON Coin (TON), among others, closed higher.
However, this upward trend proved to be short-lived as the start of the new week brought a downturn, reversing the previous gains and putting these assets in a loss position.
Binance and Toncoin started the week in red.
According to data from CryptoRank, on July 7th, all top ten ranked cryptocurrency assets experienced losses, with BNB and TON having the largest declines among their peers.
BNB dropped by 3.79%, followed closely by TON with a decline of 3.69%.
Binance’s Development Trend
The recent price fluctuations of BNB within the daily timeframe indicate its high volatility.
Starting from July 3rd, BNB went through a series of declines, initially dropping by 4% to around $556.
The following day, the decline intensified, with a drop of over 7%, and on July 5th, the price of BNB dropped by another 3%.
By the end of these consecutive declines, the price of BNB had fallen to around $498.
Subsequently, with BNB’s price rising by over 5%, briefly pushing it back into the $500 price range, there seemed to be signs of recovery.
However, this growth was short-lived; as of July 7th, the start of the new week, BNB dropped by 6.73%, with the price falling to around $490.
At the time of writing this article, BNB’s trading price is approximately $500, a slight increase of 2%.
At the end of the trading day, whether this represents a true recovery or another false hope of a rebound will be determined.
Toncoin’s Development Trend
As pointed out by analysis from AMBCrypto, Toncoin’s price trend within the daily timeframe also exhibits significant volatility, reflecting what was observed in Binance Coin.
TON’s price started declining on July 3rd, dropping by 2.73% to around $7.8. The most significant decline occurred on July 4th, with a drop of over 9.7%, bringing the price down to $7.1.
Despite these declines, TON achieved a brief recovery on July 6th, rising by nearly 5% at the week’s close, with a trading price of around $7.5.
However, the start of the new week reversed these gains, with a drop of nearly 7%, bringing its price back to around $7.
As of the latest update, Toncoin’s trading price is approximately $7.1, with an increase of over 1%.