BNB (Binance Coin) has just set a new historical peak at $804.70 on Wednesday morning, officially surpassing Solana in market cap and becoming the 5th cryptocurrency according to CoinGecko.

🌟 BNB Sets Historical Peak – Market Cap Breaks $110 Billion

After closing last week at an all-time high ($756.82), BNB continues its strong upward trend and reached a new peak at $804.70 during trading in Asia on Wednesday. With an increase of over 15% in just one week, BNB has pushed its market cap beyond $110 billion, surpassing Solana and several other notable altcoins.

📊 Derivatives Data for Strong Growth Signals

The data from the derivatives market continues to reinforce the upward trend:

  • Open Interest (OI) – An index that reflects the amount of open contracts in the market – has risen from $1.05 billion on Monday to $1.23 billion on Wednesday, the highest level since December 2024. This indicates that new money is flowing into the market and investor sentiment is leaning towards the buyers.

  • Funding Rate has turned positive, reaching 0.023%, indicating that buyers (longs) are paying fees to sellers (shorts) to maintain their positions – a typical sign of optimistic sentiment.

🔍 Technical Analysis: Is the Next Target $900?

  • After breaking the previous peak of $793.86 (set on December 4, 2024), the upward momentum has pushed BNB to a new high of $804.70.

  • If the upward momentum continues, the next resistance level will be the psychological mark of $900, which is considered the expected target of the bulls in the short term.

However, if the market corrects, the nearest support level is at $742 – this is also a key area to maintain the upward trend.

🔮 Overview & Outlook

The combination of:

  • Strong upward momentum in price,

  • Market cap surpasses historical milestones,

  • Extremely positive derivatives data,

…has helped BNB become the focal point of the altcoin market this week. In the context of the crypto market coming back to life with expectations of ETFs, decreasing interest rates, and strong capital inflow, BNB is being positioned as one of the leading assets in the new growth wave.

📌 Conclusion: If BNB maintains its price above $742 and continues to attract new money into the derivatives market, conquering the $900 mark is just a matter of time.