BNB Surges 7% to All-Time High of $855, Trading Volume Hits $3.54 Billion
Amid broader crypto market consolidation, Binance Coin (BNB) has surged over 7% in 24 hours, reaching a new all-time high of $855. Daily trading volume increased by 90% to over $3.54 billion, indicating strong bullish sentiment.
BNB Performance Highlights
- Top-performing cryptocurrency among the top ten with 12% gains in the past week.
- Recent breakout followed a pullback at $800.
- 24-hour liquidations exceeded $4.14 million, primarily from short positions.
- Futures open interest rose by 40% to $1.72 billion, suggesting continued bullish expectations.
- Analyst Crypto Rand anticipates the price may target $1,000 next.
If BNB surpasses $1,000 with strong volumes, analysts predict potential growth towards $2,000 and beyond. Corporate demand is also rising, with Windtree Therapeutics planning to acquire up to $700 million worth of BNB.
On-chain Metrics Indicate Strength
- BNB Smart Chain ranks second in transaction volume with over 387 million transactions in the past week.
- Active addresses increased by 40% to over 33.7 million.
- Stablecoin transaction volume reached $11.17 billion; DEX volume rose to $3.4 billion.
- Total value locked in BSC’s DeFi ecosystem increased by 22% to $10.2 billion.
- Bridged TVL climbed to over $19.2 billion.