BNB price just witnessed a major milestone after finding favor with the bulls this weekend. Binance coin just concluded the week at a new all-time high after it pushed above $1,000 for the first time in history.
BNB price finally crossed above the highly coveted 4-figure price tag on Saturday. The cryptocurrency pulled a 10% plus rally this week, building on the robust bullish momentum that it has maintained since June.
Binance coin rallied as high as $1,028 in the last 24 hours, concluding the week with the bulls on top. Moreover, that price tag also marked a new ATH.
This latest BNB price surge also pushed it into overbought territory according to the RSI indicator.
It was also worth noting that despite pushing into new highs, the RSI pushed into a lower high compared to its peak in March 2024.
Interestingly, the latter also saw a parabolic price move. BNB price rallied by over 10% during the week and was up by 19% so far this month.
Binance Coin Outperforms Solana Crypto
This latest BNB price tag was accompanied by a massive spike in dominance. More importantly, this dominance spike also allowed it to surpass Solana dominance.
For context, Solana dominance outpaced the Solana dominance. The latter hovered at 3.26% while BNB.D pushed to 3.58% after pulling a strong lead in the last 24 hours.
This dominance battle was an important observation because it highlighted the shifting liquidity flows.
A clear example of liquidity rotation at play. Previous market excitement in the second week of September favored Solana crypto.
Despite its recent performance, analysts were still curious as to how far the cryptocurrency could rally before the end of the current bull cycle.
The Binance crypto had its lowest price point so far this year, which was in February. Its latest rally means it has effectively doubled in value this year.
The price doubled in just over 8 months. This means it may potentially extend its upside if the same catalysts fueling its recent growth remain active.
This means it might be possible for the BNB price to push as high as $1,500 during the current cycle if it maintains the bullish favor.
What Were the Main Reasons Behind the Latest BNB Price Surge?
Binance coin managed to find favor with the bulls courtesy of an interesting cocktail of factors. For starters, its network activity has been quite robust since April.
For reference, transactions on the Binance Smart Chain averaged less than 5 million daily transactions before May.
That figure has ballooned to an average of more than $10 million in daily transactions since May.
The transaction activity was also accompanied by a massive spike in stablecoin liquidity. Stablecoin count on the BNB chain was less than $7 billion at the start of 2025.
However, it has since jumped to $11.5 billion as of 20 September. DEX volume also maintained aggressive growth since Q2, reflecting the robust address activity.
But beyond aggressive network activity, the Binance coin rally was a reflection of growing market confidence.
Ecosystem expansion and strategic collaborations with major finance industry players like Franklin Templeton also pushed the coin on a strong growth vector.
BNB’s upside this week was also accompanied by a spike in open interest, which peaked at $1.98 billion.
This was also a new ATH high for BNB’s open interest and it signaled potentially volatile pullbacks. In the meantime, the cryptocurrency just experienced its highest weekly shorts liquidations.