BNB Breaks $1,200 as On-Chain Activity Grows and Institutional Interest Picks Up

BNB rallied more than 4% in the past 24 hours, climbing above $1,200 and hitting an intraday high of $1,223 as trading activity and institutional interest surged across the BNB ecosystem.

The BNB Chain has reclaimed its position as the most-used blockchain by active addresses, recording 52.5 million users in September—its highest level since August and overtaking Solana, according to TokenTerminal. Much of that growth came from Aster Protocol, which saw its total value locked soar 570% to $2.34 billion, per DeFiLlama data.

Retail speculation added fuel to the move, with reports of a trader turning a $3,000 memecoin bet into nearly $2 million after a post from Binance founder Changpeng Zhao stirred renewed market enthusiasm. Institutional investors also contributed to the momentum, as Jiuzi Holdings and Kazakhstan’s Alem Crypto Fund announced BNB additions to their treasuries.

Broader macro sentiment remains supportive, with traders anticipating a 25-basis-point rate cut from the Federal Reserve later this month. Meanwhile, a recent BNB Chain upgrade reducing gas fees to 0.05 Gwei has further enhanced activity on the network.

Technical Picture

BNB traded between $1,148 and $1,223 during the session before closing at $1,201, up 2.27% on the day. The breakout above $1,200 was accompanied by trading volume nearly five times the daily average, establishing strong resistance near $1,223.

Consistent buying between $1,148 and $1,158 suggests institutional accumulation, helping BNB maintain levels above $1,200 despite a late-session pullback. Overall momentum remains bullish, supported by strong fundamentals and sustained investor demand.