BNB has reached $855, surpassing the market value of companies like Nike, Starbucks, and Robinhood. This token currently holds a market capitalization of over $118 billion, becoming the largest exchange token by value. Analysts believe the current momentum could push the price to a new all-time high.
Bull Market Drives BNB to Record Levels
BNB has recorded a 5.5% increase in the past 24 hours, trading around $855 and nearing the previous peak of $860. Technical data indicates that a significant resistance level is at $919, with an intermediate target of $1,036 if buying pressure remains strong. The Relative Strength Index (RSI) is currently at 69.80, indicating potential for further growth without entering overbought territory.
Spot market demand is driving the uptrend, as token inflows into low exchange volumes reduce selling activity. Short-term support is predicted at $802, and maintaining above this level could sustain the bullish outlook. CoinGecko commented on the recent price surge, speculating whether a new all-time high is imminent. Furthermore, Wise Crypto, a market analyst, noted that BNB has reclaimed the $850 level and compared its valuation to major global companies.
Institutional and Corporate Demand Boosts Confidence
Institutional interest is contributing to increasing market optimism, with corporate purchases playing an increasingly important role. CEA Industries recently acquired 200,000 BNB, becoming the largest corporate holder of the token. This transaction coincided with a surge in trading volume, tripling the daily average.
According to CoinMarketCap, the price rose from $813.90 during trading and broke through resistance levels at $839.57 and $853.67. However, selling pressure emerged near $855, leading to a brief correction. Market support remains solid around $834.40 despite profit-taking activity.
BNB's market dominance in the trading token space reaches 81%, far ahead of competitors like LEO and BGB. The open interest in BNB futures has risen to $1.18 billion, indicating traders are positioning for the next bullish trend.
