BNB Reaches All-Time High of $907.33 With $1.67B Futures Volume
Binance Coin (BNB) reached a new all-time high of $906.12 on September 10, following a multi-day rally. The peak was mainly driven by trading volume on the Binance exchange.
- The price first set a high on August 14 at $864, followed by $882 on August 21, before reaching the current peak.
- As of September 11, BNB experienced a minor retracement, trading around $900.
- The BNB/USDT chart showed a rise from about $894 to an intraday high of $902.50.
Market Momentum and Futures Activity
- 24-hour futures trading volume for BNB reached $1.67 billion, while open interest stood at $1.65 billion.
- Short position liquidations amounted to $1.44 million versus $120,680 in long positions, indicating a potential short squeeze.
This rally coincides with the upcoming quarterly token burn, a significant event in BNB's economic model. The "Auto-Burn" system aims to reduce BNB's supply over time.
- The latest burn in July 2025 removed over 1.59 million BNB, valued at over $1 billion.
- The next burn, expected in October, aims to remove another 1.47 million BNB.
Strong early August performance has led analysts to predict ambitious future price targets for BNB, although it is currently consolidating around $900.