BNB, the native token of the BNB Chain ecosystem, surged to a new record peak of $827.25, decisively breaking past its previous all-time high of $793.86. This significant achievement followed the token overcoming a major two-year technical resistance level.
Robust network activity on the BNB Chain and increasing institutional adoption emerged as primary catalysts for the rally. Specifically, companies such as WindTree Therapeutics and Nano Labs have publicly disclosed acquisitions of BNB for treasury management purposes, signaling heightened institutional confidence.
Market metrics strongly supported the bullish momentum. Daily trading volume for BNB surpassed the $5 billion mark, while open interest in BNB futures contracts exceeded $1.3 billion, underlining intense demand.
The rapid price ascent triggered significant market volatility within derivatives markets. Approximately $180 million worth of leveraged positions were liquidated within a 24-hour span. Short sellers bore the majority of these losses, with Bybit exchange reporting 77,874 traders affected by the liquidations.
Market analysts project continued growth potential for BNB. Many forecast that the token could surpass the $1,000 barrier by the fourth quarter of this year, supported by sustained network development and positive market sentiment. Some ambitious projections even suggest potential targets reaching between $1,800 and $2,000.