FXStreet has reported that Binance Coin (BNB) has reached a new all-time high, surpassing $1,200, with potential for further gains to $1,300. This development was detailed in a recent report.
According to FXStreet, BNB's recent surge follows a 17% weekly increase and is accompanied by signs of increased network use and supportive technical indicators often monitored by traders. The report highlights the achievement of a fresh all-time high above $1,200 on Monday, along with a daily Relative Strength Index (RSI) reading above 70 and a Moving Average Convergence Divergence (MACD) bullish crossover. These factors are frequently seen by trend-followers as confirming momentum. Additionally, the report notes a record pace in monthly active addresses on the BNB Chain and an uptick in ecosystem engagement, both of which can bolster positive sentiment when prices are already on the rise.
BNB Chain's on-chain activity is described as robust. Monthly active addresses have reached 60 million—approximately double year-to-date—according to the referenced BNB Chain update. FXStreet further states that the total value locked (TVL) across BNB-based protocols increased from about $7.58 billion on September 27 to roughly $8.69 billion on Monday, marking the highest level since May 2022. This suggests more assets are being deposited or utilized within the ecosystem. Such growth in active addresses and TVL is often interpreted as an indication of improving network health alongside price increases.
Derivative market positioning also appears favorable. Data from CoinGlass indicate that BNB futures open interest hit a record near $2.57 billion on Monday, signaling fresh capital entering positions and an expansion in risk appetite that can amplify prevailing trends. Elevated open interest—when not accompanied by significant long liquidations—can act as a tailwind for continuation setups, particularly when spot flows and on-chain usage are rising simultaneously. This scenario aligns with FXStreet’s upside technical targets discussed in their report.
Binance, the exchange behind the BNB ecosystem, was founded in 2017 by Changpeng Zhao and Yi He and operates globally without a single declared headquarters; Richard Teng serves as CEO. The firm remains the largest spot cryptocurrency exchange by volume and supports products spanning spot trading, derivatives, and wallets while backing BNB Chain’s developer and user communities. Its scale positions it as a central liquidity source for BNB and related assets, with extensive retail and institutional reach across regions.