BNB: Losing its "safe haven" status among exchange tokens BNB fell 2.3% to $587 as traders increasingly focus on exchange flows and regulatory risk rather than token burns and utility. Key points: • Binance attracted 78% of net exchange inflows this month, increasing concentration risk. • A U.S. Treasury compliance inquiry added regulatory uncertainty. • Stablecoin inflows into Binance were strong, but much of the capital remained inactive rather than flowing into trading. • Spot market demand remains weak despite recent recovery attempts. Why it matters: BNB was once viewed as a defensive crypto asset thanks to fee discounts, ecosystem utility, and token burns. Now, price action is being driven more by liquidity flows and regulatory headlines than by its burn mechanism. Key levels: • Support: $565 • Resistance: $610 Outlook: BNB still benefits from Binance's large ecosystem, but investors are treating it more like a bet on Binance itself rather than a defensive asset. As long as regulatory concerns and weak spot demand persist, flow dynamics are likely to matter more than token burns. 📉📊