BNB Climbs Past $1,200 Mark as Chain Metrics Improve and Big Money Returns

BNB climbed past $1,200 in the last 24 hours, gaining more than 4% as trading volumes surged and institutional interest strengthened. The token hit an intraday high of $1,223 before closing around $1,201, according to CoinDesk Research.

The rally followed a surge in BNB Chain network usage, which saw 52.5 million active addresses in September—its highest level in months and enough to surpass Solana, TokenTerminal data shows. A key driver was the Aster Protocol, whose total value locked jumped 570% to $2.34 billion, per DeFiLlama.

Retail traders also joined the action, with reports of one investor turning $3,000 into nearly $2 million after a social post from Binance founder Changpeng Zhao reignited speculation around the BNB ecosystem.

Institutional investors added fuel to the rally. Electric vehicle company Jiuzi Holdings and Kazakhstan’s Alem Crypto Fund disclosed new BNB holdings, signaling broader confidence in the asset.

The bullish move also coincided with expectations of a 25-basis-point Federal Reserve rate cut later this month and a recent BNB Chain upgrade that lowered gas fees to 0.05 Gwei, improving network efficiency.

Technical View

BNB traded between $1,148 and $1,223 during the session, posting a 2.27% daily gain. The breakout above $1,200 was accompanied by volume spikes nearly five times higher than average, setting a key resistance zone around $1,223.

Strong buying support remains between $1,148 and $1,158, where consistent bids suggest accumulation from institutional players. Despite a brief pullback after testing $1,215, BNB held above $1,200—signaling continued bullish momentum and a healthy uptrend.