Binance Coin (BNB) is experiencing significant bullish momentum, with its current price at $654.21 USD.
🔥 Key Developments
Technical Breakout: BNB has broken above a symmetrical triangle pattern, indicating a bullish trend with a target price of $732. This movement is supported by a double-bottom formation.
Network Activity Surge: A 90% reduction in Binance Chain gas fees has led to increased network activity, pushing the Total Value Locked (TVL) above $8 billion for the first time since 2024.
Short Position Liquidations: Over $3 million in BNB short positions were liquidated between May 8–9, signaling strong bullish pressure as the price surged past $600.
Price Predictions: Standard Chartered predicts that BNB could reach $1,275 by the end of 2025, more than doubling its curren
t value.