BNB rose 1.93% to $693.45 in 24 hours, driven by Binance's dominance in the second quarter, technical momentum, and the overall market recovery.

Binance secured 35.4% of the global cryptocurrency volume in the second quarter.

Adoption of BNB Chain grew with interest in tokenized assets and corporate treasury.

Technical breakout above the resistance of $690.

1. Main catalyst: Binance's dominance in the second quarter.

Binance processed a spot volume of $3.6 trillion in the second quarter (35.4% market share), reinforcing the utility of BNB for discounts on fees and participation on the platform. Additionally, the exchange announced a token burn worth $1 billion on July 16, which reduces inflationary pressure on supply.

2. Technical context.

BNB surpassed the resistance zone between $690 and $695, identified by CoinDesk Research, with: - RSI(14) at 65.34 (neutral to bullish) - MACD histogram +3.31, indicating upward momentum - Price trading above the 7-day simple moving average (SMA) of $686 and the 30-day exponential moving average (EMA) of $665.

The volume in 24 hours was $1.96 billion (-6.38%), showing moderate conviction, but open interest in derivatives rose 17.8% month-over-month, suggesting leveraged bullish bets.

3. Market dynamics.

The 1.93% rally of Bitcoin to $119,000 boosted altcoins, while the Altcoin Season Index rose 17.86% weekly. The correlation of BNB with BTC over 30 days decreased to 0.72, indicating some decoupling as investors focus on specific exchange catalysts.

BNB's gains reflect Binance's operational resilience, the reduction in token supply, and technical momentum in a recovering market.

With the expansion of BNB Chain into tokenized assets, will institutional adoption overcome regulatory challenges? $BNB