BNB price has surged to a new all-time high fueled by record-breaking user activity and treasury demand, but overbought signals hint that a pullback may be looming.
Summary
- BNB gained 17% in price in a week, reaching $1,194 and becoming one of the top-performing large-cap cryptos.
- Monthly active users on the BNB Chain recently hit 60 million, with daily active users surpassing 4.3 million and transactions reaching 134 million.
- The RSI at 71.43 signals overbought conditions as BNB eyes $1,200 resistance breakout.
BNB price has extended its bullish run, gaining over 17% in the past week and reaching a new high of $1,194 today. This move places the asset among the top-performing large-cap assets so far this month. The surge comes amid the overall strong positive market sentiment that has seen Bitcoin (BTC) soar to a new peak of $125,559 and Ethereum (ETH) cross the $4,600 mark.
The uptrend is also supported by growing activity on the BNB (BNB) Chain. Data from Token Terminal reveals that the number of monthly active users on the chain has hit a new all-time high of 60 million. Average daily active users have crossed 4.3 million, total transactions hit 134 million, and trading volume rose to $85.4 billion.
With the network also recently announcing a new minimum gas price of 0.05 Gwei, more developers and traders may join, potentially driving even higher transaction activity.
In addition to user activity, BNB is drawing interest as a treasury asset. Chinese EV firm Jiuzi Holdings has included BNB in its $1 billion treasury allocation plan, while Kazakhstan’s Alem Crypto Fund has reportedly made BNB its first official portfolio asset.
BNB price nears $1,200 as RSI enters overbought zone
At press time, crypto.news data shows the Binance Coin price trades at $1,192. The most recent candles show small-bodied formations, signaling consolidation just beneath the key psychological barrier at $1,200. This suggests that BNB may be gathering momentum for the next leg up or preparing for a short-term pullback.
Technical indicators show bullish momentum remains intact, but the RSI at 71.43 points to overbought conditions. While this signals caution, there is no bearish divergence yet, meaning a reversal is not confirmed.
Support now lies at $1,100, while stronger buying interest may emerge at $1,050 if a pullback occurs. A daily close above $1,200 could see the BNB price push toward $1,250 and potentially retest all-time highs, provided market momentum holds.
