Key takeaways
BNB has hit a brand new all-time excessive of $1,258.
The coin has rallied by over 20% within the final seven days, outperforming the broader market.
BNB hits a brand new ATH as lively month-to-month addresses soar
BNB, the native coin of the Binance ecosystem, has hit a brand new all-time excessive of $1,256. The rally comes as BNB Chain continues to set new and spectacular information. BNB Chain month-to-month lively addresses surged to an all-time excessive of 60 million, up 200% for the reason that begin of the 12 months.
Along with that, BNB’s Complete Worth Locked (TVL) elevated from $7.58 billion on September 27 to $8.69 billion on Monday, its highest stage since Could 2022. The surge in its TVL signifies rising exercise throughout the BNB ecosystem
Lastly, information obtained from CoinGlass reveals that the futures’ Open Curiosity (OI) in BNB at exchanges hit a brand new all-time excessive of $2.57 billion on Monday. The surge in OI reveals that new cash is coming into the market, with consumers betting on BNB rallying larger within the close to time period.
Will BNB hit $1,500 quickly?
The BNB/USD 4-hour chart is bullish and environment friendly because the coin has been rallying in current weeks. The coin rebounded from a key help stage of $730.01 on August 3 to surpass $1k on September 21.
After retesting the low of $948.45 on September 26, BNB has added 24% to its worth and now trades above $1,250 per coin. If BNB continues its rally, it might hit the $1,300 mark within the close to time period. An prolonged rally would permit it to commerce above $1,500 for the primary time in its historical past.
The BNB/USD 4-hour RSI of 81 reveals that the coin is at the moment heading into the overbought area. The Transferring Common Convergence Divergence (MACD) confirmed a bullish crossover final week, indicating a bullish bias.
Nonetheless, BB might face a correction following its current rally. If that occurs, BNB might discover help at its current low of $1,134.
