• BNB was trading at around  $715.9 at press time.
• Rising on-chain activity and social sentiment reinforced BNB’s bullish outlook.

Binance Coin [BNB] continues its impressive growth, recently reaching an all-time high of $794.

The surge, driven by increased trading volume and heightened on-chain activity, reflects growing confidence in the ecosystem.

With strong technical indicators and bullish social sentiment, BNB shows potential for further upward momentum despite minor consolidation risks.

BNB: Price and trading activity on the rise

BNB, the native token of Binance, has seen remarkable growth throughout 2024, culminating in a series of upward trends toward the end of the year.

After breaking its all-time high just four days ago, the price hovered around $715.9 at press time. The rally has been accompanied by increased trading volume, signaling heightened investor interest, according to CryptoQuant.

The 30-day moving average for BNB trading volume has been climbing steadily since mid-2023, with recent values approaching historic highs.

This surge reflects sustained enthusiasm and growing confidence in Binance and its ecosystem.

Technical indicators like the RSI at 60.63 suggest the token is slightly overbought but with room for further growth. The MACD remains bullish, reinforcing optimism among traders.

On-chain volume and social sentiment

On-chain data reveals a sharp rise in Go to Source to See Full Article
Author: Adewale Olarinde