The Binance Coin (BNB) has finally broken the $1,000 barrier, hitting the four-digit mark for the first time in history.
Summary
- BNB price hits $1,005, setting a new all-time high amid bullish momentum and favorable macroeconomic conditions.
- Binance founder Changpeng Zhao (CZ) celebrated the milestone as a true “community effort.”
- Institutional Interest in Binance Coin has skyrocketed with notable names like B Strategy, CEA Industries, and Nano Labs betting on long-term accumulation.
- Technical outlook remains bullish, suggesting a potential run to $1,300.
Binance Coin has soared above the $1,000 mark, hitting a new all-time high of $1,005, driven by a mix of institutional demand, macroeconomic shifts, and surging investor confidence. This milestone marks a major moment for the token, which has been on a relentless uptrend over the past few weeks.
The price rally comes in the wake of the Fed 25bps interest rate cut, which has injected new liquidity into risk markets, including cryptocurrencies. Coupled with renewed optimism in the crypto sector, BNB (BNB) has solidified its position among the top five cryptocurrencies by market cap.
Reacting to the surge, Binance founder Changpeng Zhao (CZ) shared a heartfelt message with the community on X, reflecting on BNB’s journey from its $0.10 to $1,000. He called the moment “something words cannot explain,” and went on to thank the community for their unwavering support.
“This is just the beginning. To the next 10000x together!,” CZ added.
Institutional tailwinds fuel BNB price boost
Institutional demand for Binance Coin has played a major role in this latest price pump. In August, Nasdaq-listed investment firm B Strategy announced plans to raise $1 billion for the asset’s accumulation via a dedicated treasury company, backed by YZi Labs. The new vehicle will hold BNB in its treasury and strategically invest in the broader BNB ecosystem.
CZ also recently noted that more than 50 Digital Asset Treasury (DAT) firms have expressed similar interest in the asset, signaling growing confidence from major players looking to gain regulated exposure to the asset. Meanwhile, several firms like CEA Industries, Nano Labs, and Windtree Therapeutics have already revealed their long-term positions.
In parallel, Binance Smart Chain’s Total Value Locked (TVL) has increased to $7.93 billion, reflecting increased DeFi activity and liquidity on the network, a key indicator of rising user engagement and real-world use cases.
Adding to the optimism, reports allege that the U.S. Department of Justice is close to lifting its compliance oversight on Binance, a move that could further bolster investor confidence and reduce regulatory overhang.
Technical analysis shows bulls in command
BNB trades at $998.04 by press time, according to market data from crypto.news. The altcoin has witnessed a little correction following its massive uptick past $1,005. However, the momentum remains bullish, with 24-hour gains of 4.46% and roughly 11.2% over the past seven days.
The Relative Strength Index (RSI) sits at 77.02, indicating overbought conditions, which may lead to short-term consolidation. However, a bullish MACD crossover and widening gap between the MACD and signal lines suggest strong upside potential.
Fuelled by institutional interest, BNB could break above $1,100 with the next psychological target at $1,300. On the downside, support lies at $950, $880, and $900.