BNB Reaches ATH, Can It Touch $1,000 Soon?

Coin (BNB) has recently recorded an impressive increase, reaching a price of $832, a peak not seen since 2021.

This increase was driven by a significant rise in the number of active addresses by 37% in the last month, surpassing the growth of Solana (SOL) and making BNB the fifth largest cryptocurrency. The big question for investors right now is whether BNB is ready to dominate the market and reach new all-time highs?

Institutional Demand Increases

The Maxwell update launched on June 30 has brought improvements in validator coordination, reduced block times, and higher throughput. This has transformed the user experience and is likely a driver behind the 37% increase in active addresses.

Data from Nansen shows that this is one of the largest increases among other major chains. Moreover, trust from institutions is also on the rise.

Windtree Therapeutics recently purchased BNB to hold in their cash reserves totaling $520 million, and NASDAQ-listed Nano Labs added about 128,000 tokens to their vault worth approximately $108 million.

BNB Reaches New All-Time High

In the last 48 hours, Binance Coin (BNB) successfully surpassed the resistance of $750 and pushed its value above $800. Currently, the coin is trading at $832 and is less than 3% away from reaching a new all-time high of $859.59 recorded about 12 hours ago.

With this, the next key point is at the $900 mark, after which the psychological target of $1,000 will be the focus. The RSI indicator is at 70.34 (overbought) and continues to rise, while the bullish trend on the MACD is confirmed as the blue line crosses the orange signal line.

Conclusion

With all indicators showing positive potential and strong institutional support, Binance Coin (BNB) has everything needed to reach and even exceed the price target of $1,000. #BNBBreaksATH #bnb