BNB, the native cryptocurrency powering the BNB Chain, achieved a remarkable milestone in early Asian trading hours on 23 de julio, hitting an all-time high of $801. This significant surge follows a robust week for the digital asset, which saw a 4% increase over the last 24 hours and an impressive 14% gain throughout the past week.
The token, currently ranked as the fifth-largest cryptocurrency by market capitalization, now boasts a valuation exceeding $110 mil millones. This price action has been mirrored by a substantial uptick in trading activity, with daily volume surging by 42% to over $3.200 millones. Data from Coinglass further highlights heightened market engagement, showing a 19,16% climb in BNB futures open interest to $1.230 millones, alongside a 33,3% jump in derivatives volume to $2.180 millones. These figures collectively indicate a growing speculative appetite and renewed optimism for BNB’s continued growth.
A key driver behind BNB’s latest breakout appears to be a notable increase in institutional investment. On 22 de julio, Nano Labs Ltd, a Chinese Web3 infrastructure company, publicly announced it had significantly expanded its BNB holdings to 120.000 tokens, a position valued at approximately $90 millones. The company revealed these acquisitions were made through over-the-counter purchases at an average price of $707 per BNB, underscoring its strategic view of BNB as a core reserve asset. Nano Labs has also signaled intentions to further bolster its BNB reserves through ongoing acquisitions and potential investments in entities focused on BNB holdings.
Looking ahead, analysts from CoinCodex project that BNB could reach $1.100 by noviembre de 2025, provided that current market momentum persists and institutional support remains strong.
However, a closer look at technical indicators suggests that while BNB is on a powerful uptrend, it may be approaching “overheated” levels. The token is currently trading above the upper Bollinger Band on the daily chart, a common sign of significant bullish momentum but also high volatility. The Relative Strength Index (RSI), a popular momentum oscillator, sits at 87,54, well above the typical overbought threshold of 70, signaling that buyers are firmly in control but also raising the possibility of a short-term price correction.
Despite these cautionary signals, BNB maintains a strong uptrend structure, holding firmly above its 20-day simple moving average, currently at $704. The accompanying increase in trading volume further confirms the strength of this move. Should the current momentum endure, BNB may target the psychological $850 mark, with $900 identified as the next significant resistance level. Conversely, if the RSI cools off or a price pullback occurs, BNB is expected to find support near $740 or its 20-day SMA around $705.
