BNB, the native token of the BNB Chain network, has set a new all-time high – on July 23, during early Asian trading hours, it surged to $801. This significant milestone comes after a 4% gain in the past 24 hours and a 14% rise over the past week. BNB is now the fifth-largest cryptocurrency by market capitalization, which has exceeded $110 billion.
📈 Trading activity around BNB has exploded – daily volume increased by 42% to over $3.2 billion, indicating strong investor interest.
📊 Speculation and Institutions: A Dual Growth Engine
According to Coinglass data:
🔹 Open interest in BNB futures rose by 19.16% (totaling $1.23 billion)
🔹 Derivatives volume jumped by 33.3% (reaching $2.18 billion)
These figures point not only to heightened trading activity but also to increased speculative behavior and optimism about continued growth.
🔥 A major catalyst came from the institutional sector – Chinese Web3 firm Nano Labs Ltd announced it had accumulated 120,000 BNB worth approximately $90 million via over-the-counter transactions, with an average purchase price of $707 per BNB. The company stated it considers BNB a key strategic reserve asset and intends to continue building reserves through further acquisitions and investments focused on BNB.
📐 Technical View: Strong Bullish Momentum With Potential Overheating
While the market sentiment remains bullish, technical indicators call for caution:
🔹 BNB is trading above the upper Bollinger Band, indicating high volatility
🔹 RSI is at 87.54, well into overbought territory
🔹 BNB is holding firmly above the 20-day Simple Moving Average (SMA), currently at $704
This pattern confirms a strong bullish trend, but also suggests a short-term correction may be imminent if buyers lose steam.
🔮 What’s Next? Targets and Risks
🔹 If the momentum continues, BNB could aim for $850, with $900 as the next major resistance
🔹 In case of a pullback, support may be found near $740 or around the 20-day SMA at $705
According to CoinCodex analysts, BNB could reach $1,100 by November 2025, if institutional support and bullish momentum persist.
#bnb , #BNBChain , #CryptoNews , #CryptoMarket , #Web3
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“