Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Options traders remain cautious with purchases of puts with strikes from $550-$650.Binance's native BNB token is approaching an all-time high of $705 after surging by more than 10% from Sunday's low of $597.is currently trading at $663 having risen by 6.25% over the past 24-hours, outperforming the CoinDesk 20 Index which has marked a 0.23% gain over the same period.
However, with trading volume nears $3 billion over the past 24-hours, options traders are proceeding with caution by purchasing put options with a strike price of $550-$650.
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