BNB extended its climb past $1,200, gaining over 4% in the past 24 hours as network activity surged and institutional demand strengthened. The token touched an intraday high of $1,223 before settling around $1,201, according to CoinDesk Research.
The rally aligns with BNB Chain reclaiming its position as the most-used blockchain by active addresses. In September, it logged 52.5 million active addresses—surpassing Solana for the first time since August, per TokenTerminal. A major driver has been the Aster Protocol, where total value locked (TVL) spiked 570% to $2.34 billion, according to DeFiLlama.
Retail speculation also fueled momentum, with one trader reportedly turning $3,000 into nearly $2 million after a post from Binance founder Changpeng Zhao reignited interest in BNB-linked assets.
Institutional support added further strength. Jiuzi Holdings and Kazakhstan’s Alem Crypto Fund both disclosed BNB holdings, signaling growing confidence in the ecosystem.
Broader sentiment has also improved on expectations of a 25-basis-point Fed rate cut later this month and a recent network upgrade that lowered BNB Chain’s minimum gas fees to 0.05 Gwei.
Technical View
BNB traded between $1,148 and $1,223 during the session, closing at $1,201—a 2.27% gain. The breakout above $1,200 was backed by a fivefold spike in trading volume, marking $1,223 as a key resistance level.
Support remains strong in the $1,148–$1,158 range, where consistent buying pressure indicates institutional accumulation. Despite a brief pullback near $1,215, BNB retained most of its gains, suggesting buyers remain in control and the broader uptrend is intact.
