Binance Coin (BNB) just set a new record at 899 USD, fueling discussions about the possibility of becoming the next cryptocurrency to exceed 1,000 USD.
Momentum from large organizations and strong on-chain activity is supporting BNB's price increase, though there are still some potential risks in corporate fund strategies.
MAIN CONTENT
BNB reached an all-time high of 899 USD, will it reach 1,000 USD?
Institutional cash flow and new application integrations create growth momentum but come with risks.
On-chain activity, open interest in derivatives, and technical indicators all reflect significant interest in BNB.
What does BNB hitting a historical peak of 899 USD mean?
BNB just hit an all-time high of 899 USD amid strong buying across the market, particularly on the Binance exchange.
This is the first time BNB has surpassed historical price thresholds, indicating a breakthrough in investor sentiment and the growing influence of the Binance ecosystem. The price of 899 USD positions BNB as a focal point, stimulating analysis waves about both the short-term and long-term prospects of this cryptocurrency.
Many experts believe that recent price increases are not simply driven by speculation but are also supported by abundant institutional capital, new application integrations, and continuously surpassing on-chain data peaks. This is the foundation for BNB to consolidate its leading position in the cryptocurrency market, paving the way for higher price milestones.
Is the possibility of BNB reaching 1,000 USD realistic?
Surpassing the 899 USD threshold, investors are actively debating the opportunity for BNB to become the next cryptocurrency to exceed 1,000 USD.
The momentum of increased capital supply from large organizations, combined with positive technical indicators and the trend of new cash flows into the Binance ecosystem, has opened up a favorable scenario for BNB in the short term. However, experts warn that the market remains volatile with the risk of strong profit-taking and sudden corrections.
According to data from BscScan and CoinGlass, key indicators such as the number of active addresses and open interest in derivatives have all reached new highs, indicating the consolidation of trust from professional investors. The integration of new products such as Ethena, RAKBANK in the UAE also expands scenarios for practical applications, adding long-term value to BNB.
Why are large corporate funds turning to BNB?
Nasdaq-listed and Hong Kong companies are buying BNB, reflecting a bet on the trend of accumulating digital assets on their balance sheets.
BNC Network Company previously attracted attention with a 160 million USD deal to hold BNB, similar to MicroStrategy's famous strategy of buying Bitcoin. Shortly after, China Renaissance from Hong Kong also invested 100 million USD in BNB aiming to establish a long-term partnership.
A comparison table of some recent large institutional trades with BNB:
Organization National Value Investment USD Target BNB Network Company USA (Nasdaq) 160 million Long-term accumulation China Renaissance Hong Kong 100 million Strategic partner Nano Labs – Not disclosed Asset diversification Windtree Therapeutics USA (Nasdaq) Planning 500 million Unclear (still has risks)
The influx of large funds into BNB provides liquidity and price stability for the market, while reducing the impact from retail profit-taking. However, the case of Windtree Therapeutics receiving a delisting warning and the uncertain 500 million USD plan also highlights the risks if the market rushes towards corporate speculation.
“The storage of digital assets by listed companies helps increase market credibility, but it can also lead to significant volatility if they change policies or face legal risks.”
– Chau Ngoc Hung, Director of Blockchain Research at Ho Chi Minh City University of Economics, Digital Finance Forum 2024
How does strong on-chain and derivative activity impact?
The number of active wallet addresses daily on the BNB Smart Chain is approaching 3 million, reflecting the real spread of this network.
In the past year, active addresses on the BNB Smart Chain have been continuously growing, while the price of BNB has risen alongside the open interest in derivatives exceeding 1.6 billion USD (according to CoinGlass). This movement indicates that the cash flow from professional investors is starting to control market trends.
High on-chain activity coupled with large derivative volumes creates a high liquidity environment for BNB, while also increasing its attractiveness to investment funds looking for competitive cost advantages or risk hedging. However, experts note that high open interest levels can also lead to strong price volatility when market sentiment suddenly reverses.
“We see the sustainable growth trend of active addresses as a positive sign, demonstrating the long-term growth potential of the BNB Smart Chain.”
– 2024 Comprehensive Blockchain Report, Chainalysis
Technical momentum: What do the indicators reflect about BNB's price trend?
At the time of recording, BNB was trading around 889 USD (approximately 889 USD), after peaking above 890 USD and showing slight correction signals.
The Relative Strength Index (RSI) is in the 61 range, indicating that the market is no longer overbought and is accumulating for a new upward cycle. At the same time, the On-Balance Volume (OBV) indicator continues to maintain steady cash inflow, despite short-term profit-taking signals.
The price of BNB has formed a correction zone just below 900 USD, indicating that selling pressure is currently not strong, and if buying power returns, BNB will likely test the nearest resistance zone at 900 USD, with technical support at 850 USD. This reinforces the outlook for BNB to continue its upward trend if institutional cash flow remains positive.
Frequently Asked Questions
Will BNB really surpass the 1,000 USD mark?
The ability to reach 1,000 USD depends on institutional cash flow, on-chain momentum, and the level of practical application integration; all forecasts must be based on trading data and multidimensional technical indicators.
How many large funds are investing in BNB?
Companies like BNB Network Company, China Renaissance, Nano Labs, and Windtree Therapeutics have all expanded their positions with a total committed capital now publicly over 260 million USD (according to international press data 2024).
How many active addresses are currently on the BNB Smart Chain?
According to BscScan, this number has recently approached 3 million, reflecting the strong growth of the BNB Blockchain.
Where is the upward momentum for BNB coming from?
Data shows that momentum comes from the interest of financial institutions, new application integrations, and technical efficiencies like strong increases in Open Interest.
What are the risks associated with a large-scale BNB purchase strategy?
Risks may arise from internal company policy changes, legal issues, or market pressure when prices suddenly reverse, especially when large organizations act simultaneously.
Source: https://tintucbitcoin.com/bnb-cham-900-usd-hop-dong-tang-manh/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news in the cryptocurrency market and not miss any important information!
