$BNB BNB (BNB), formerly known as Binance Coin, continues to trade higher above $762 at the time of writing, on Monday, after closing at its highest weekly level in history and gaining more than 9% last week. Derivatives data supports a bullish thesis, as Open Interest (OI) reaches an annual high of $1.05 billion, reflecting renewed interest from investors. Technical analysis also suggests a continuation of the rally, with a target at its all-time high of $793.86 and potentially entering a price discovery mode.

Binance Coin's Open Interest reaches an annual high of $1.05 billion

CoinGlass data shows that the futures OI in BNB on exchanges rises to a new annual high of $1.05 billion on Monday from $829.50 million on Wednesday. A rising OI represents new or additional money entering the market and new purchases, which could fuel the current price rally of BNB.