BNB updated its historical maximum after a sharp market recovery
On the morning of October 13, Binance Coin (BNB) jumped by 16% in a day, setting a new record — $1370. Currently, according to CoinGecko, the token is trading around $1300.
The increase occurred soon after a massive crash in the cryptocurrency market, wiping out more than $19 billion in market value in just one day. According to Coinglass, the spot trading volume of BNB in a day increased by 50% to $8.94 billion, while futures rose by 112% to $12.19 billion. Open interest increased by almost 30%, indicating a return of bullish sentiment among traders.
Former Binance CEO Changpeng Zhao explained the token's success with a strong community, active developers, and the deflationary model of BNB, dismissing rumors of market support from the team.
On the daily chart, BNB shows a V-shaped recovery and remains above support at $1286. If momentum is maintained, the coin could test levels of $1340–$1500, while the key support zone remains in the range of $1260–$1280.