#BNBBreaksATH $BTC #CryptoScamSurge #BNB reaches a new all time high
Market Overview
$BNB soared to a record high of $809.84 posting a 14% gain over the past week. Its market capitalization surpassed $110 billion pushing it past Solana to become the third largest cryptocurrency by market cap. Binance founder CZ marked the milestone as institutional interest in BNB continues to rise.
Key Drivers
Daily trading volume surged 42% to $3.2 billion while futures open interest climbed 19% to $1.23 billion both indicators of increased market activity. The Altcoin Season Index crossed 50 reflecting growing optimism across the broader crypto market. Recent Maxwell protocol upgrades also enhanced network performance further fueling BNB's ecosystem expansion.
Trading Implications
With the Relative Strength Index (RSI) hitting 87.54 BNB is entering overbought territory signaling a potential for short term pullbacks. Key support levels lie between $750 and $770 which may offer attractive entry points. Despite the technical overextension BNB remains fundamentally strong due to its deflationary tokenomics and ongoing Chain developments.
Investors may consider partial profit taking while maintaining exposure through diversified strategies within the $BNB ecosystem.
