Solana News Today: BNB Surges to $801 on 4% Daily Gain, 14% Weekly Rally as Institutional Demand Boosts $110B Market Cap

BNB, the native token of Binance Chain, reached an unprecedented $801 during early Asian trading on July 23, 2025, marking a 4% daily gain and a 14% weekly increase. This surge propelled its market capitalization beyond $110 billion, solidifying its position as the fifth-largest cryptocurrency [1]. The rally was fueled by institutional accumulation, rising trading volumes, and sustained investor optimism, with daily trading activity surging 42% to over $3.2 billion. Futures and derivatives data from Coinglass further underscored the momentum, showing a 19.16% rise in BNB futures open interest to $1.23 billion and a 33.3% jump in derivatives volume to $2.18 billion [1].

A key institutional player, Nano Labs Ltd, a China-based Web3 infrastructure firm, revealed significant OTC purchases of 120,000 BNB tokens at an average price of $707, valuing its holdings at approximately $90 million. The company labeled BNB a “core strategic reserve asset,” signaling long-term confidence in its utility [1]. Analysts from CoinCodex highlighted that continued institutional support and momentum could push BNB toward $1,100 by November 2025, though they emphasized this as a projection rather than a certainty [1].

Technical indicators, however, suggested caution. BNB’s relative strength index (RSI) stood at 87.54, well above the overbought threshold of 70, while the token traded above the upper Bollinger Band. These metrics indicated heightened buying pressure but also raised the risk of a short-term correction. Despite this, BNB remained above its 20-day simple moving average (SMA) of $704, providing structural support for its rally. Immediate resistance levels were identified at $850 and $900, with potential support near $740 or the 20-day SMA in case of a pullback [1].

The broader market context reinforced the bullish sentiment. BNB’s performance outpaced competitors like Solana (SOL), driven by growing demand for blockchain infrastructure solutions and updated fee structures on major exchanges prioritizing BNB-based transactions. Crypto News noted that accelerated institutional accumulation and large-volume transactions from non-custodial wallets had broken through previous technical resistance levels, contributing to the surge [2]. Insidebitcoins.com added that BNB’s 5% single-day gain reflected renewed confidence in Binance’s ecosystem expansion, including layer-2 solutions and cross-chain interoperability projects [2].

While analysts acknowledged the risks of rapid price movements in the altcoin sector, they stressed that on-chain metrics—such as declining sell pressure and rising whale holdings—suggested structural strength. Crypto News advised investors to focus on fundamental developments rather than short-term speculation, cautioning that price targets beyond $801 remained speculative [2].

The breakout reignited debates about market timing, with some viewing it as a delayed reaction to Binance’s Q2 revenue growth and others seeing it as a timely entry for long-term holders. However, the absence of official forecasts from major exchanges or financial institutions meant the trajectory remained subject to macroeconomic factors, including regulatory trends and global data releases [2].

Sources:

[1] [Massive BNB Breakout to $801; Are You Late or Right On Time?](https://coinmarketcap.com/community/articles/6880c8e2495f675d8ee776cb/)

[2] [These Altcoins Are Poised for Outsize Gains This Summer](https://crypto.news/these-altcoins-are-poised-for-outsized-gains-this-summer-flare-aleo/), [BNB Price Soars 5% To New ATH As This ICO Surges Past...](https://insidebitcoins.com/sponsored/bnb-price-prediction-bnb-sets-new-ath-above-800-flips-sol-in-market-cap-as-this-crypto-wallet-token-ico-surges-past-14-1-million/)