Despite signs of 'fatigue' from the overall market, the 'BNB train' continues to run strongly on the growth track. In the past 24 hours, Binance Coin has only slightly decreased by 1.5%, currently trading around 877 USD. With persistent performance over time, this adjustment looks more like a stopover along the journey rather than a derailment.
In just one month, BNB has increased by 15%; over three months, the profit reached 30%; and since the beginning of the year, the growth has impressively reached 51%. Currently, this token is only 2% away from its historical peak of 899 USD – a close enough distance to spark hopes for a breakthrough, opening the door for the first time for BNB's value to touch the four-digit threshold.
Investors are intensifying accumulation
The momentum supporting this sustainable increase comes from the expansion of many investor groups within the 'HODL wave' – an index reflecting the percentage of circulating supply held over different time periods.
In just one month, from July 24 to August 23, all three main groups recorded significant increases: the number of wallets holding for 1–2 years rose from 6.55% to 7.52%; the 3–6 month holders surged from 1.62% to 7.30%; while the 1–3 month group also slightly increased from 2.29% to 2.306%.
These movements clearly reflect the trend: both long-term and medium-term investors are choosing to increase their positions as the price rises, rather than waiting for a correction. This influx of capital has become the fuel that keeps the 'BNB price train' rolling.
Futures contracts maintain growth momentum
Not only the spot market, but BNB futures contracts are also playing a crucial 'leverage' role for the upward trend. The open interest (OI) of BNB futures has steadily increased along with the price, reaching a three-month high of 1.27 billion USD on August 22 and currently still hovering around this level.
The increase in open interest shows that leveraged traders are continuously entering the market, increasing the likelihood of bursts in both directions: a strong breakout or an unexpected sell-off. If buying pressure prevails, a wave of short position liquidations could become a catalyst, pushing the price above the 899 USD mark and opening a new price discovery zone.
Conversely, a sudden 'long squeeze' scenario could create severe volatility and pull the price down. However, the current consensus between the spot and derivatives market still leans towards a bullish scenario.
Essentially, the open interest of futures contracts measures the total number of contracts that have not been settled, thus reflecting the scale of capital locked in the derivatives market.
BNB price developments: 898 USD – the gateway to four digits
BNB is currently challenging key resistance areas, which could shape the entire upcoming trend. After hitting the mark of 898 USD – coinciding with the Fibonacci extension level of 0.618, considered the strongest barrier in the upward trend – BNB's advance has temporarily been halted. Currently, this token is hovering just below the important resistance level of 882 USD.
The 898–899 USD range is both a historical peak and a decisive 'steel wall'. If BNB can close above this mark firmly, it will open the door for a new journey, with short-term targets at 922 USD and 952 USD respectively.
Once decisively surpassing 898 USD and entering the price discovery zone, BNB is likely to aim for its first four-digit milestone at 1,038 USD. If the cash and derivatives flows continue strongly, this scenario could even just be the starting point for a more sustained growth cycle, where the 1,000 USD mark is not the final destination, but merely a stop along the way.
On the contrary, if BNB loses the important support area at 812 USD, the short-term upward trend will be invalidated, forcing BNB's 'price train' to come to a temporary halt.
