BNB (Binance Coin) has surged to a new record high of $877.94, climbing 5.10% in the past 24 hours and outperforming the broader crypto market’s 1.8% gain.
With a market capitalization of $122.2 billion and daily trading volume topping $3.57 billion, BNB is now firmly in the spotlight as institutional inflows and ecosystem growth fuel its rally.
Institutional Demand Fuels BNB Price Surge
Institutional investors are increasingly turning their attention to BNB. On August 18, Nasdaq-listed BNB Network Company (BNC) disclosed a $160 million purchase of BNB, raising its total holdings to 325,000 tokens valued at $283 million. This move makes BNC the largest publicly traded corporate holder of BNB.
The announcement comes on the heels of Windtree Therapeutics’ $60 million BNB purchase in July, signaling rising confidence in the asset among large investors. On-chain data further supports the trend, showing that exchange-held BNB balances have dropped to 22.6%, down from 28.4% in July, creating a tightening supply that is boosting upward price pressure. Market focus now shifts to BNC’s upcoming $500 million tranche.
Technical Breakout Beyond Resistance Levels
BNB’s rally accelerated after it broke through the $869 resistance level on August 19. The move was supported by its 7-day simple moving average of $840.57 and a bullish MACD crossover. Still, with the relative strength index (RSI-14) at 56.93, analysts caution that the token may be entering moderately overbought territory.
On the network side, the “Maxwell” upgrade, implemented on June 30, has reduced block times to just 0.75 seconds, spurring stronger developer activity. Since then, BNB Chain’s total value locked (TVL) has risen by 20% to $12.1 billion. Analysts now see the next key resistance at $905.75, the 127.2% Fibonacci extension level.
Ecosystem Growth Accelerates With Hackathon Activity
The ongoing #BNBHack event has become another growth catalyst, with over 180 project submissions covering artificial intelligence (AI) and decentralized physical infrastructure networks (DePIN). Sponsored challenges from NetMindAI and AITECHio have boosted developer participation, while BNB Chain processed 13.95 million transactions on August 19, up 14% from the previous week.
Industry experts highlight that consistent developer activity enhances the long-term utility of the network, reinforcing demand for BNB as its primary gas token.
Can BNB Break $900 Next?
BNB’s record-breaking rally reflects the convergence of institutional accumulation, bullish technicals, and ecosystem momentum. While short-term volatility remains a risk, many traders are watching whether the token can clear the $905 barrier and hold above $900 — a milestone that could set the stage for its next leg higher.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/bnb-explodes-to-new-ath-is-900-just-the-beginning/