Binance Coin Surges 0.45% to $648 as Institutional Reserves Top $1 Billion

Binance Coin (BNB) has seen a significant surge in price, reaching $648 on June 26, with a modest 0.45% daily increase. This upward movement is supported by rising institutional reserves, which have totaled over $1 billion in altcoin treasuries. The price increase corresponds to the current trends in the altcoin treasury sector, which had a positive impact on the market trends of the BNB.

Nasdaq-listed Web3 firm Nano Labs recently revealed plans to establish a $1 billion Binance Coin treasury. This move was followed by news from executives associated with Coral Capital Holdings, who are raising an additional $100 million for a separate BNB reserve. These announcements have contributed to a strong wave of interest from institutional players seeking greater exposure to BNB.

The weighted sentiment of the BNB surged heavily on June 23-24, as far as the market data revealed. That is, despite it weakening a bit later on, the feeling is still high and supports the current push of the token. This optimism among the traders tends to be accompanied by price rallies, particularly when it is supported by important technical indicators.

On June 16, BNB initiated a golden cross since the 50-day simple moving average crossed over the 200-day moving average. This trend is normally an indication that a bullish trend will begin. The token went down right after the crossover, but immediately after the drop, it returned to growth once again and has regained the 200-day moving average as a support level.

Current price behavior resembles that of October 2024, when a golden cross led to a temporary drop before a sharp surge brought BNB to an all-time high of $793. A similar setup appears to be unfolding, with the token now facing resistance at the 50-day average level near $655.

Market momentum indicator has also been on the return leg and is approaching a critical point as measured using the Relative Strength Index (RSI). The measure also reflects the same position it held in November 2024, before a massive drive. If momentum continues to build, it may support another breakout above current levels.

As BNB price continues to respond positively to the rise in altcoin treasury interest, market structure and sentiment indicate a strong foundation for further gains. The alignment of market sentiment and RSI momentum suggests that BNB may be poised for an extended bullish breakout, mirroring the pattern that preceded its all-time high rally in October 2024.