BNB traded at $1,200 on Wednesday, down 0.5% after sliding from a new all-time high that came after a market-wide liquidation event erased roughly $500 billion from the crypto market.

The token, which is the native token of the BNB Chain and can be used to pay of trading fees on Binance, rebounded from lows near $1,145 to highs around $1,237, suggesting buyers remain active despite ongoing macroeconomic uncertainty.

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