Binance Coin Surges 16.15% on $90M OTC Purchase, DEX Volume Exceeds $14B

Binance Coin (BNB) has surged past its previous price ceiling, reaching an all-time high of $804.17 before retracing slightly to trade at $799.65, 0.58% below the peak. This milestone marks a 6.31% increase over the past 24 hours and a 16.15% rise in the last week, propelling the token’s market capitalization to $111.36 billion. The 24-hour trading volume has also spiked to $3.25 billion, reflecting renewed institutional and retail interest in the asset.

The rally has been fueled by a $90 million over-the-counter (OTC) purchase of BNB by Nano Labs, which acquired the token at an average price of $707. This large-scale transaction, coupled with BNB Chain’s recent dominance in decentralized exchange (DEX) activity—exceeding $14 billion in daily volume—has underscored the token’s growing utility and adoption. The platform’s performance now surpasses the combined DEX volume of Ethereum and Solana, highlighting its expanding role in the blockchain ecosystem.

Technically, BNB’s price action has remained bullish despite a minor pullback. The 4-hour chart shows a structured uptrend, with the token bouncing off a critical support level at $751.95 and staying above the 20-period EMA. On-chain indicators such as the Relative Strength Index (RSI) at 69 suggest the asset is not yet overbought, leaving room for further upward momentum. Traders are closely monitoring key resistance levels at $820.63 and $860.22, with a sustained close above $804 potentially signaling a push toward the $850 psychological threshold.

Analysts note that the $750 level remains a critical support zone, reinforced by recent price consolidation and alignment with moving averages. A breakdown below this level could expose BNB to further downside, with the next major support at $734.28. However, the current trajectory, supported by strong on-chain activity and institutional participation, suggests buyers are maintaining control. Futures open interest has also surged to $1.05 billion in a short timeframe, indicating heightened speculative positioning among traders.

While some market participants forecast a potential rally to $860 in the near term, others propose a more ambitious $1,000 target, contingent on sustained adoption and macroeconomic conditions. These projections, however, remain speculative and depend on whether BNB can maintain its upward momentum beyond key resistance levels. The token’s ability to outperform peers like Solana temporarily—though such shifts in market capitalization rankings are often volatile—highlights its resilience in a competitive altcoin landscape.

Traders are advised to remain cautious as the market navigates this critical phase. The interplay between institutional demand and retail enthusiasm will likely shape BNB’s next move. For now, the token’s technical strength and growing utility position it as a focal point for both bullish and bearish speculation, with $860 emerging as a pivotal psychological target in the coming weeks.