Binance Coin Poised for Significant Bullish Move
Binance Coin (BNB) is on the verge of a major price surge.It recently hit $690, its highest since February 10, marking a 40% increase from its year’s low.
Third-party data reveals that Binance Smart Chain (BSC) protocols saw a 170% rise in the last week, reaching over $16.7 billion. This matches Ethereum’s (ETH) performance in the same period. Other chains like Arbitrum, base, and Sui processed $6.65 billion, $8 billion, and $3.9 billion, respectively.
Nansen data shows a surge in BNB’s network usage.active addresses rose by 46% to 7.67 million, transactions by 62% to 51.9 million, and weekly fees by 46% to $4.5 million. This growth outpaces solana, Tron (TRX), Near Protocol (NEAR), and Aptos (APT).
Investors are also staking more BNB. In the last 30 days, 126K BNB worth $83 million was added to staking pools, bringing the total staking market cap to over $20 billion.
Technically, BNB has been trading in an ascending channel for months, staying above the 100-week Exponential Moving Average. It’s forming a cup-and-handle pattern, a bullish continuation setup. If this plays out, BNB could rally toward $1,121.
