Why Everyone’s Buying BNB – Record High Explained

• BNB reached a new all-time high, and major companies like BNC are buying hundreds of millions worth of tokens for their treasuries.

• A potential BNB ETF approval could bring more institutional money while the token burns over $4 billion annually to reduce supply.

• Technical charts show bullish patterns, and BNB could hit $1,000 soon, but falling below $792 would signal trouble.

Binance Coin (BNB) reached a new all-time high this week, extending its impressive three-day winning streak. The cryptocurrency has broken through key resistance levels, signaling strong bullish momentum that could propel prices toward the $1,000 target.

The rally comes as institutional investors increasingly view BNB as a strategic treasury asset. Corporate adoption has emerged as a primary driver behind the token’s recent price appreciation.

Corporate Treasury Accumulation Drives Demand

Several major companies have announced substantial BNB acquisition plans, creating significant buying pressure in the market. BNC, a Nasdaq-listed company, has already purchased 200,000 BNB tokens valued at approximately $171 million. The firm plans to accelerate its accumulation strategy after raising $1.75 billion in funding this year.

WindTree Therapeutics plans to acquire $700 million worth of BNB tokens. Meanwhile, Liminatus has committed to purchasing $500 million in BNB holdings. These large-scale acquisitions mirror the corporate treasury trend that has driven Bitcoin and Ethereum to record highs.

The treasury adoption strategy has proven successful across the cryptocurrency sector. Over 100 companies now hold Bitcoin in their corporate reserves. Similar trends are emerging for Ethereum, with firms like SharpLink and BitMine building significant positions.

ETF Approval Could Amplify Institutional Interest

Traders anticipate potential approval of the VanEck BNB ETF later this year. The Securities and Exchange Commission has approved Bitcoin and Ethereum ETFs, setting a precedent for other major cryptocurrencies.

BNB’s strong fundamentals support the case for institutional investment products. The token operates on a deflationary model, burning over $4 billion worth of tokens annually. This mechanism aims to reduce the total supply to 100 million tokens over time.

The Binance Smart Chain ecosystem demonstrates robust activity metrics. Daily trading volume exceeds $3.5 billion, providing substantial liquidity for large transactions. The network’s stablecoin supply has reached $11.5 billion, while decentralized exchange protocols process billions in daily volume.

Chart analysis reveals bullish patterns supporting continued price appreciation. BNB has successfully invalidated a double-top formation at $860, typically a bearish reversal signal. Breaking above this level indicates strong buying momentum.

Binance Coin price daily chart analysis

The price action has formed a cup-and-handle pattern, often signaling further upward movement. Technical projections suggest a potential target of $1,090 based on this formation. However, a decline below $792 support would negate the bullish outlook.