Binance’s native token, BNB, has surged to a new all-time high of about $880, propelled by a convergence of institutional interest, technical momentum, and expanding blockchain activity.
BNB’s rally reflects growing institutional confidence. BNB Network Company (BNC) made a headline-worthy move by acquiring 325,000 tokens worth $283 million, making it one of the largest corporate holders of BNB. Earlier, Windtree Therapeutics launched a substantial BNB treasury strategy, further solidifying demand. These large purchases have significantly reduced BNB available on exchanges—from 28.5% in July to just 22.6%—creating a tighter supply and strengthening upward price pressure.
Technically, BNB cleared key resistance zones in the $840–$870 range, fueled by indicators like a positive MACD trend and an RSI nearing overbought territory. Analysts point to the next resistance level at approximately $905, opening the possibility for a continuation of this rally.
Beyond price action, activity on the BNB Chain is booming. The network has seen sharp increases in daily transactions and total value locked (TVL), bolstering the token’s utility and reinforcing its appeal. Meanwhile, token burns and broader DeFi adoption continue to enhance scarcity and investor confidence.
The rapid ascent has caught many bearish traders off guard—short positions across derivatives platforms faced steep liquidations, contributing further to the bullish thrust.
In Summary: BNB’s breakthrough to around $880 marks a pivotal moment backed by institutional accumulation, supply constraints, and expanding real-world use cases. Technical strength and active ecosystem growth suggest further upside may lie ahead, with $900–$905 as the next key target.
By Coinstelegram
about 3 hours ago
