Binance Coin (BNB) is showing bullish momentum as Active Addresses rose 6.7% and roughly $20 million flowed off exchanges into private wallets, supporting demand. On-chain volume and positive derivatives funding suggest short-term strength, with $855–$850 as immediate support before another push toward all-time highs.
Active Addresses up 6.7%: BNB led EVM chains, reaching 10.8 million active addresses last week.
~$20 million moved off exchanges into private wallets in the past 48 hours, improving liquidity dynamics.
Derivatives show positive funding (0.0099% OI-weighted), signalling bullish sentiment among longs.
BNB price: Active addresses +6.7% and $20M off-exchange inflows support a potential rally—read on for charts, on-chain data, and next levels.
What is driving BNB’s latest price action?
Binance Coin (BNB) is being driven by higher on-chain activity and improved liquidity flows, with Active Addresses up 6.7% and meaningful exchange outflows. These signals, paired with positive derivatives funding, indicate increased demand and a higher probability of a short-term rally toward previous highs.
How did active addresses and liquidity influence Binance Coin’s rally?
BNB Chain led EVM chains in Active Addresses last week, with 10.8 million addresses, a 6.7% weekly increase according to Nansen (plain text). Increased address activity correlated with a spike in trading volume, where one-day volume hit $1.988 billion and 30-day volume reached $58 billion per DeFiLlama (plain text).
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Over the past 48 hours, investors withdrew about $20 million of BNB from exchanges into private wallets, per CoinGlass (plain text). This reduced available exchange supply and supported price bids. Short, digestible data points are useful for quick decision-making.
The Open Interest Weighted Funding Rate remained positive at 0.0099%, meaning longs were paying shorts. Positive funding typically reflects bullish bias among leveraged traders and can precede upward price pressure. Traders should watch funding and open interest together for conviction.
Chart analysis shows immediate support in the $855–$850 range. A dip into this zone could act as a springboard for another rally. If bids thin, BNB may revisit the ascending support line that has preceded six prior rallies, framing a “decline-to-rally” base case.
This section preserves on-chain images and their positions for visual context.
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Source: https://en.coinotag.com/rising-active-addresses-and-20m-outflows-may-support-bnb-rally-toward-new-highs-charts-suggest/