- •BNB Coin’s price surged 478% from 2023 lows, reaching $1,190 and positioning it as the fifth‑largest cryptocurrency globally.
- •The BSC network’s active transactions rose 65% in 30 days, supported by growing DeFi participation and higher network fees.
- •Binance’s plan to burn $2 billion worth of tokens aims to tighten supply, reinforcing confidence in BNB’s sustained bullish momentum.
Binance Coin (BNB) continued its upward trajectory this week, reaching an all‑time high of $1,190. The surge represents a 478% rise from its 2023 lows, propelling its market capitalization beyond $162 billion and securing its position as the fifth‑largest cryptocurrency globally.
The Binance Smart Chain (BSC) network has recorded a sharp increase in user activity. According to third‑party analytics, the platform handled more than 413.7 million transactions in the past 30 days, marking a 65% jump. Nansen data further indicates that active addresses climbed by 6.1% month‑over‑month to 36 million, underscoring strong ecosystem growth.
DeFi Expansion Boosts Network Value and Fees
The total value locked within the BSC ecosystem rose significantly, reaching $12.52 billion, up from under $5 billion earlier this year. Leading decentralized applications such as PancakeSwap, Lista DAO, Venus, and Aster remain central to this growth. Consequently, network fee revenue surged by 117% in the past month to $24.5 million, reflecting robust on‑chain activity.
The deflationary mechanism of Binance Coin continues to drive investor optimism. The network is set to burn approximately 1.4 million BNB tokens, valued at more than $2 billion, as part of its ongoing strategy to reduce the circulating supply from 139 million to 100 million. This approach has historically supported upward price pressure by limiting token availability.
Technical Indicators Point to Continued Strength
BNB has surpassed key resistance levels at $791 and $1,000, maintaining a strong position above its major moving averages. Both the Average Directional Index (ADX) and Average True Range (ATR) indicators signal a strengthening trend. Analysts note that continued momentum could push prices toward the $1,500 mark if bullish sentiment holds. However, any move below the $1,000 level could temper this outlook.