Binance coin (BNB) recently reached a new all-time high of $810 and has become the 5th largest cryptocurrency in the world by market capitalization. As data from TradingView shows, the price has appreciated by 35% in just one month.

Binance coin skyrockets to all-time high and overtakes Solana

With this growth, BNB surpassed Solana, which fell to 6th place with a market cap of $100 billion, according to CoinMarketCap data. Bitcoin dominance is gradually weakening, and investor interest is shifting toward altcoins. However, Binance coin is not relying solely on market sentiment—its growth also has fundamental foundations.

The main factors driving growth include:

• BNB’s strategic role within the Binance ecosystem. Users leverage it for fee discounts, staking, participation in Launchpads, and more, which sustains consistent demand.
• Additionally, Binance regularly burns tokens, reducing supply and increasing scarcity. Millions of tokens have already been burned, positively impacting the price.

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Technical indicators suggest further growth

Technical analysis suggests that the rally may not be over yet. According to data from CoinGlass, open interest in BNB futures reached $1.23 billion, marking the highest level since December of last year.

BNB is currently in a long-term bullish flag that has been forming since March 2024. This technical pattern indicates consolidation within a broader upward trend. If the price continues along this path, it could potentially reach $900 in the current cycle.

However, no one can say for certain if this scenario will play out. After the recent peak of $810, the price has slightly corrected to $766, suggesting the market may need to cool down before another upward move. Nevertheless, BNB continues to prove it belongs among the most stable cryptocurrencies among high-cap projects.