In the past week, BNB (Binance Coin) continued its strong upward trend, recording an increase of about +12–16% over the last 7 days, reaching a new peak of approximately 804 USD, the highest level ever. The price currently fluctuates around the 783 USD range, with a daily range of 765–808 USD.
A bright spot in the market is the significant increase in open interest in the derivatives market, which has risen by over 24% to approximately 1.23 billion USD, indicating that institutional money is actively entering the market. Technical indicators such as RSI are still in the overbought zone, suggesting a slight correction may occur before continuing to rise further.
Fundamental factors supporting BNB's upward momentum include:
The trading volume on the BNB Chain has increased significantly, focusing on DeFi and DEX trading.
Token burn activities and accumulation from funds like Nano Labs (which purchased over 120,000 BNB) contribute to reducing supply and supporting prices.
In summary, BNB is on the verge of breaking out with technical strength and institutional support. However, the market may experience a slight correction if the overbought trend persists before targeting higher levels such as 850–900 USD.
