The post BNB Hits New All-Time High $1108 – Key Reason Behind The Jump appeared first on Coinpedia Fintech News
Binance’s native token, BNB, has dominated crypto headlines this week, as BNB surged past $1,108 for the first time in history. The token, which powers the world’s largest exchange by trading volume, is now trading around $1,097.
This milestone marks a significant rally for BNB, propelled by growing network activity and technical factors that are fueling strong market momentum.
Growing BNB Smart Chain Ecosystem
One of the biggest reasons behind BNB’s price jump is the robust growth in the BNB Smart Chain (BSC) ecosystem. In the past month, BSC processed over 403 million transactions, up 58%, making it one of the busiest blockchains worldwide.
The network now has over 37 million active addresses, while fees doubled to $21 million, showing rising user activity.
However, On-chain data reveal that Stablecoins on BNB Chain also reached a record $14 billion, boosting BNB’s role as the network’s main fuel. On top of that, trading activity on BNB-based decentralized exchanges (DEXs) crossed $90 billion in September, with $3.38 billion handled in just one day.
Heavy Liquidations Follow BNB’s Surge
But the jump came with heavy losses for traders. Coinglass data shows nearly $400 million was liquidated in the past 24 hours, with $268 million from shorts betting against BNB and $127 million from longs caught by the volatility.
BNB Technical Breakout Eyeing $1480
BNB has turned major resistance levels into support, including the 50-week and 100-week EMAs, adding strength to its bullish trend. The RSI sits at 64.68, showing the token is not yet overbought and still has room to climb.
Currently holding above $1,000, BNB is targeting $1,130–$1,480 based on Fibonacci levels and bullish chart patterns.
Experts believe the price could reach $1,480 in the coming weeks, a 38% jump from current levels, as long as it maintains key support around $1,050–$1,033 to avoid slipping back toward $1,000.
The post BNB Hits New All-Time High $1108 – Key Reason Behind The Jump appeared first on Coinpedia Fintech News
Binance’s native token, BNB, has dominated crypto headlines this week, as BNB surged past $1,108 for the first time in history. The token, which powers the world’s largest exchange by trading volume, is now trading around $1,097. This milestone marks a significant rally for BNB, propelled by growing network activity and technical factors that are …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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