Binance Coin (BNB) has reached a new all-time high of $1,224.69, driven by strong demand within the Binance ecosystem, increased activity on the BNB Chain, and a positive cryptocurrency market sentiment. Analysts view BNB's performance as a key indicator of the current market rally, with expectations of further price appreciation.
The BNB Chain has experienced a significant surge in user engagement, with monthly active addresses reaching an all-time high of 51.9 million. This growth is attributed to the vibrant ecosystem of decentralized applications (dApps), DeFi protocols, and gaming platforms. The network's recent Maxwell upgrade, which included a 50% reduction in gas fees and faster block times, has enhanced its competitiveness, leading to increased decentralized exchange (DEX) volume and stablecoin supply on the network.
Technically, BNB has maintained a consistent bullish structure. A breakout above the $1,175-$1,180 resistance zone has now turned this level into support, with potential price targets set between $1,250-$1,300, and some forecasts extending to $1,300-$1,400 in the coming weeks. The sustained upward movement, strong on-chain metrics, and growing institutional interest, including investments from Kazakhstan's Alem Crypto Fund and Jiuzi Holdings, solidify BNB's position as a strategic asset and a potential bellwether for the broader cryptocurrency market.