$BNB BNB Smashes ATH—Flips Solana in Market Cap Showdown! 🏆📈
BNB reached an all-time high of $804.70 on Wednesday.
BNB's market worth exceeds $110 billion, surpassing Solana.
Due to BNB's enormous open interest and funding rate jump, derivatives statistics are positive.
Bulls seek toward $900 as the technical view implies a surge.
BNB (BNB), previously Binance Coin, achieved a new all-time high of $804.70 on Wednesday after ending at its highest-ever weekly close last week. This increase raised BNB's market valuation past $110 billion, surpassing prominent cryptocurrencies like Solana. The optimistic argument is supported by BNB Open Interest (OI) and funding rate spikes in derivatives data. Technically, bulls are aiming $900, indicating a rally continuation.
BNB reached a fresh all-time high of $804.70 in Asian trade on Wednesday after rising more than 15% in the last week. BNB's market valuation has risen past $110 billion, surpassing Solana and ranking fifth in the crypto market, according to CoinGecko.
BNB's derivatives data predicts a further surge. CoinGlass data reveals that exchange BNB futures OI increases to a new annual high of $1.23 billion on Wednesday from $1.05 billion on Monday, levels not seen since early December. Rising OI indicates fresh money entering the market and purchasing, which might accelerate the BNB price surge.
A favorable financing rate surge boosts the BNB's optimism. The graph below shows that longs are paying shorts as the measure has shifted to a positive rate and spiked to 0.023% on Wednesday. BNB has surged dramatically as financing rates rise.
BNB Price Forecast: Bulls Want $900
BNB concluded last week at $756.82, up more than 9%. This week, it broke the all-time high of $793.86 on December 4 and reached a record $804.70 on Wednesday.
BNB might challenge its psychological $900 level if it keeps rising.
BNB may fall below $742, its weekly support, if it pulls back.
