The factors behind the record high of $BNB may include

1. Capital inflow and active derivatives

Last week, the open interest of BNB futures doubled, reaching 1.05 billion USD, indicating strong market sentiment for an upward bet.

2. Ecological functions and supply mechanisms

The periodic burn mechanism of BNB (token burn), upgrades to BNB Chain and application expansion, as well as the multiple uses of the token within the Binance ecosystem, all enhance long-term value support.

3. Institutional capital involvement

Large buy orders from some OTC platforms have also driven prices to break new highs, with further analysis mentioning that a certain institution purchased over 120,000 BNB in one go.