BNB, the token that drives the BNB chain and used for Binance Fees on Binance, gathered over 4% in the last 24-hour period, pushed past $ 1,200 and touched at an intraday height of $ 1,223.
The move was driven by sharp volume tips, renewed institutional interest and increasing networking activity. Rally adapted to the BNB chain, which regains its place as the most widely used blockchain of active addresses.
In September, it logged 52.5 million active addresses and surpassed Solana for the first time since August, according to tokenter minal data. Behind the activity was a sharp increase in decentralized trade and lending on the aster protocol, which saw its total value locked Spring 570% to $ 2.34 billion per year. Defillama.
Signs of the retail momentum also appeared. A high-profile Memecoin trader reportedly turned a $ 3,000 efforts to nearly $ 2 million after a post by Binance founder Changpen Zhao triggered speculative interest rate.
The wave comes with a wider institutional commitment. Electric Vehicle Maker Jiuzi Holdings and Kazakhstan’s Alem Crypto Fund added both BNB to their Treasury.
It is also worth noting that BNB has benefited from the wider crypto market from the expectations that the Federal Reserve will reduce interest rates by 25 BPS later this month, and from a recent upgrade, where the BNB chain reduced its minimum gas fee to 0.05 GWEI.
Overview of Technical Analysis
BNB acted in a wide range over the session and moved between a low level of $ 1,148.12 and a high of $ 1,223.08, according to Coindesk Research’s technical analysis data model.
The price closed at $ 1,201.13, marking a gain of 2.27% over the 24-hour window. The most notable price action came when BNB pushed through $ 1,200 on an increase in trading volume, with a burst of activity that reached almost five times the daily average. This volume wave coincided with Intraday High, which now marks a key resistance zone around $ 1,223.
The support came out clearly in $ 1,148 to $ 1,158 series, where the purchase pressure consistently appeared throughout the session. Each dip in this zone attracted new demand, suggesting that institutional orders can be layered at these levels.
The broader trend remains upward, with price action that reflects stable accumulation and a willingness from buyers to absorb volatility.
However, a sharp turn signaled late in the session care. After testing the area $ 1,215, BNB quickly fell back to $ 1,201 and cut into previous winnings.
Elevated volume during this withdrawal suggests profits instead of selling panic, probably from larger holders who capitalize on resistance near the recent heights. Despite Retracement, BNB maintained most of its winnings and held over $ 1,200 mark, which kept the current rally intact.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
