$BNB

BNB records its highest weekly close, aiming for a new all-time high

The price of BNB closes at a record weekly high of $756.82, marking a gain of 9.37% in the last week.

Derivatives data shows that BNB's Open Interest reaches its highest level of the year at $1.050 billion on Monday, indicating growing confidence among investors.

The technical outlook suggests a continuation of the rally, with a target beyond its all-time high of $793.86.

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 over 9% last week. Derivatives data supports a bullish thesis, as Open Interest (OI) reaches an annual high of $1.050 billion, reflecting renewed investor interest. 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 $1.050 billion

CoinGlass data shows that the OI of BNB futures on exchanges rises to a new annual high of $1.050 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.

BNB Price Forecast: BNB heads towards its all-time highs

The price of BNB on the weekly chart has risen over 9% and closed at its highest weekly level to date at $756.82. At the start of this week, on Monday, it continues to trade higher above $760.