BNB Rallies Over 4% Amid Chain Activity and Institutional Interest
BNB surged over 4% in the last 24 hours, reaching an intraday high of $1,223, driven by increased volume, institutional interest, and network activity.
BNB Chain reclaimed its position as the most-used blockchain with 52.5 million active addresses in September, surpassing Solana.
The Aster Protocol saw a significant increase in decentralized trading and lending, with its total value locked jumping 570% to $2.34 billion.
Institutional entities like Jiuzi Holdings and Kazakhstan’s Alem Crypto Fund added BNB to their treasuries, indicating broader engagement.
Expectations of a Federal Reserve rate cut and a reduction in BNB Chain's gas fees contributed to the positive market sentiment.
Technical Analysis Overview
BNB traded between $1,148.12 and $1,223.08, closing at $1,201.13 with a 2.27% gain over 24 hours.
A spike in trading volume five times the daily average helped push the price above $1,200, marking a resistance zone around $1,223.
Support was observed between $1,148 and $1,158, indicating potential institutional buying interest.
Despite a late-session reversal cutting into gains, BNB maintained most of its rise, suggesting profit-taking rather than panic selling.
