Key Takeaways
BNB’s Active Addresses climbed 6.7%, while $20 million inflows supported demand. Derivatives stayed bullish, though charts showed $855–$850 as key support before another rally toward ATHs.
In the past 24 hours, Binance Coin [BNB] slipped 2.02% to $862 despite maintaining strong performance in the month, where it recorded a 13.04% gain.
Analysis showed the surge in Active Addresses was matched by growing market interest, as capital deployment has remained high. AMBCrypto analyzed whether this momentum could push BNB to a new high.
Activity and volume flash bullish
BNB Chain led EVM chains in Active Addresses last week, according to Nansen.
At press time, Active Addresses reached 10.8 million, a 6.7% weekly rise. This gave BNB a 4.1 million lead over Base with 6.7 million. Ethereum trailed at 2.7 million during the same period.
Source: Nansen
This activity has been reflected in trading volumes. BNB Chain saw a major surge, hitting $1.988 billion in daily volume, while its 30-day performance reached $58 billion according to DeFiLlama.
The positive on-chain activity has also translated into other areas of the market.
Liquidity inflows support rally
Naturally, activity strength spilled into liquidity flows.
Over the past 48 hours, investors withdrew ~$20 million BNB from exchanges into private wallets.
Source: CoinGlass
Derivative traders also joined the rally.
The Open Interest Weighted Funding Rate remained in positive territory, with a 0.0099% reading.
This indicated that long traders were paying funding fees to short traders, reflecting bullish sentiment as the market favored longs.
AMBCrypto assessed the potential effect of these bullish trends across the different markets on BNB’s price through short-term analysis.
All-time high still in play
Chart patterns suggest that despite the bullish outlook, BNB could see a short-term pullback before targeting new highs.
The first support lies in the $855–$850 range. A dip into this zone could act as a springboard for another rally and potentially a new all-time high.
Source: Trading View
However, if bids thin, BNB might drop to the ascending support line that has triggered six prior rallies. For now, the chart implies a “decline-to-rally” setup as the base case.
