BNB Price Holds Near $707 as Binance Withdrawals Resume in Phases

TLDR:

• BNB price held near $707 as Binance withdrawals resumed in phases. Bitcoin was the first network confirmed open after the hack.
• The first reopening phase covers 15 networks, including Ethereum, Solana and BNB Smart Chain. Each route requires security checks.
• THORChain co-founder Chad Barraford said node data is public. His response did not confirm whether operators would block transactions.
• Analyst projected a seven-day level of $668.06, with targeted $750 for November. Both figures represent forecasts.

BNB price traded near $707 on Nov. 1 as Binance began reopening withdrawals following its $6.3 billion hack. Bitcoin withdrawals were live, while other listed assets were scheduled to return gradually. The exchange had set its first restart window between 06:00 and 09:00 UTC on Sunday.

The rollout covers selected assets across 15 networks, including Ethereum, BNB Smart Chain and Solana. Access depends on security checks for each supported route. Meanwhile, the BNB price remained below several resistance levels despite a modest daily gain. The recovery leaves traders watching whether improved access to funds can support a move above $710.

Binance Withdrawals Restart with Checks Across 15 Networks

Binance withdrawals are returning by asset and network, rather than through a single reopening for every customer. Bitcoin was the first network confirmed open. Ethereum and Solana were included in the announced first phase, alongside BNB Smart Chain, Tron, XRP Ledger, Zcash and Dogecoin.

The remaining networks are TON, Polygon, Avalanche C-Chain, Arbitrum, Base, Optimism and Sui. Stablecoin support varies across those chains. For example, the Ethereum and Solana routes include USDT and USDC, while Tron supports USDT alongside TRX. 

Each withdrawal route must pass security and stability checks before reopening. Binance warned that heavy traffic could cause temporary delays or longer processing times. Customers can check the withdrawal page for their chosen asset and network to see whether that route is available. 

Yi He said other wallets remained under repeated security audits and checks of their protective systems. She identified market capitalization, locked funds and user numbers as priorities. The formal recovery notice also cited withdrawal demand recorded during the previous week. 

Binance reported that it had replaced approximately 95% of affected assets, up from 90% in its previous update. It identified lower liquidity as the obstacle to buying the remaining tokens quickly. The exchange reiterated that it would absorb the financial losses from the breach. 

Separately, the FBI urged THORNode operators and DeFi services to block transactions linked to the Binance hack. THORChain co-founder Chad Barraford said node operators hold no nonpublic information. He said investigators can retrieve the public data without subpoenas. His post did not state whether operators would block transactions. 

BNB Price Faces Resistance as Moving Averages Limit Gains

Market data shows BNB at $706.55, up 0.79%, with a daily range of 702.28–706.79. The BNB price remained below $710, a nearby level highlighted in the earlier market analysis. A sustained move above it would be an initial sign of improving short-term strength.

An earlier technical review placed the 20-day moving average at $731.04 and the 50-day average at $749.09. Its 200-day average stood at $655.18. Those readings left the BNB price below shorter-term averages while still above the longer-term reference.

The same review identified resistance at $734.03 through the Ichimoku Kijun line. Together, the 731–749 area represented several hurdles above the current market. A small daily advance had not cleared those levels or confirmed a lasting reversal.