key takeaway

• BNB hit a brand new all-time excessive of $1,258.
• The coin has elevated over 20% over the previous seven days, outperforming the broader market.

BNB hits new ATH as lively month-to-month addresses skyrocket

BNB, the native coin of the Binance ecosystem, hit a brand new all-time excessive of $1,256. The rally comes because the BNB chain continues to set new spectacular data. BNB Chain month-to-month lively addresses have soared to an all-time excessive of 60 million, a rise of 200% for the reason that starting of the yr.

Along with that, BNB’s complete worth locked (TVL) elevated from $7.58 billion on September 27 to $86.9 billion on Monday. That is the very best stage since Could 2022. The surge in TVL signifies elevated exercise throughout the BNB ecosystem.

Lastly, knowledge obtained from Coinglass reveals that open curiosity (OI) in BNB futures on the change reached a brand new excessive of $2.57 billion on Monday. The surge in OI signifies that new cash is coming into the market, and consumers are betting on BNB to rally increased quickly.

Will BNB attain $1,500 quickly?

The BNB/USD 4-hour chart is bullish and environment friendly because the coin has been consolidating in current weeks. The coin rebounded from the main help stage at $730.01 on August third and rose above $1K on September twenty first.

After retesting the $948.45 low on September twenty sixth, BNB added 24% to its worth and is at present buying and selling above $1,250 per coin. If BNB continues its rally, it might attain the $1,300 mark within the quick time period. The prolonged rally permits us to exceed $1,500 for the primary time in our historical past.

The BNB/USD 4-hour RSI of 81 signifies that the coin is at present heading into overbought territory. The Transferring Common Convergence Divergence (MACD) confirmed a bullish crossover final week, indicating a bullish bias.

Nonetheless, BB could face a correction following current rallies. If that occurs, BNB might discover help on the current low of $1,134.