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BNB rallies to new highs amid booming on-chain activity
BNB has extended a powerful rally, climbing more than 17% in the past week and touching a fresh intraday peak near $1,194. The surge has pushed Binance Coin (BNB) into the ranks of the month’s best-performing large-cap cryptocurrencies as broader market momentum — including Bitcoin breaking $125,000 and Ethereum trading above $4,600 — supports risk appetite across crypto markets.
On-chain growth driving demand
On-chain metrics point to accelerating adoption on the BNB Chain. Token Terminal data shows monthly active users have reached a new high of 60 million, while average daily active users surpass 4.3 million. Total on-chain transactions climbed to 134 million and trading volume across the network rose to $85.4 billion. These fundamental drivers are increasingly cited by investors and institutions considering BNB for treasury allocations.
Notably, a new minimum gas price of 0.05 Gwei announced by BNB Chain may attract further developer activity and trading volume, which in turn could sustain higher demand for the native token.
Institutional and corporate interest
BNB’s momentum has also been bolstered by institutional interest. Chinese electric vehicle firm Jiuzi Holdings reportedly included BNB in a $1 billion treasury plan, and Kazakhstan’s Alem Crypto Fund has named BNB as an inaugural portfolio asset. Such treasury allocations enhance BNB’s narrative as not only a utility token but a strategic reserve asset for corporates and funds.
Technical picture: overbought but bullish
At press time, crypto.news data shows Binance Coin trading around $1,192 after recent candles formed small bodies that indicate consolidation just below the key psychological resistance near $1,200. Technical indicators remain biased to the upside, yet the Relative Strength Index (RSI) sits at 71.43, signaling overbought conditions that warrant caution for short-term traders.
There is no confirmed bearish divergence on the daily charts, so while the RSI suggests a potential pullback, a trend reversal has not been established. Support levels to watch are $1,100, with stronger buying interest likely near $1,050 if a corrective move unfolds. Conversely, a daily close above $1,200 could open the path toward $1,250 and potentially a retest of all-time highs, provided market momentum and on-chain demand persist.
BNB price chart
Market takeaway
For investors and traders focused on cryptocurrencies, the current BNB setup highlights a blend of strong fundamentals and short-term technical caution. Increasing user activity, rising transaction throughput, and corporate treasury interest underpin the bullish thesis for Binance Coin, while the elevated RSI encourages disciplined risk management and attention to support zones.
Watch for confirmation of a breakout above $1,200 or signs of consolidation around $1,100 to gauge the next meaningful directional move for BNB in the broader crypto market.
Source: crypto
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