bullish

Wednesday

DeFi

Coin

<p>As Bitcoin (BTC) buyers consolidate, aiming for a <a href="https://coinpedia.org/price-analysis/bitcoin-looks-weak-after-failed-attempt-to-clinch-100k-a-deeper-pullback-to-90000-could-be-fast-approaching/" target="_blank" rel="noreferrer noopener">rally toward $100K</a>, the spotlight is shifting to altcoins. Ripple's XRP, Binance Coin (BNB), and Tron (TRX) are leading the charge, with impressive gains across the board. Adding to the excitement, the TOTAL3 index, which tracks the altcoin market excluding Bitcoin and Ethereum, has hit a new all-time high (ATH) of $1.14 trillion.</p>   
<p>Could this be the start of the long-awaited altseason? With BNB smashing through key resistance levels and other major altcoins following suit, the crypto market is entering an important phase. </p>   
<h2 class="wp-block-heading" id="bnb-hits-record-high">BNB Hits Record High</h2>   
<p>In the last 24 hours, <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" target="_blank" rel="noreferrer noopener">Binance Coin (BNB)</a> surged over 15%, reaching an ATH of $771.60 before settling around $750 during Wednesday’s early Asian session. This breakout pushed BNB beyond its long-standing resistance range of $697 to $725, launching it into a price discovery phase in the ongoing bull cycle.</p>   
<h2 class="wp-block-heading" id="h-growing-binance-ecosystem-nbsp">Growing Binance Ecosystem&nbsp;</h2>   
<p>The Binance ecosystem has grown into a leading force in the Web3 space, hosting numerous DeFi projects. With a fully diluted valuation of about $107 billion, BNB’s daily trading volume doubled to $5.2 billion.</p>   
<p>The <a href="https://coinpedia.org/beginners-guide/binance-smart-chain-bsc/" target="_blank" rel="noreferrer noopener">Binance Smart Chain (BSC)</a> now holds a total value locked (TVL) of $5.57 billion, while the stablecoin market cap on BSC exceeds $6 billion. Additionally, Binance has seen a sharp rise in stablecoin inflows across multiple chains, further solidifying its market dominance.</p>   [post_titles_links postid="388937"]   
<h2 class="wp-block-heading" id="h-bnb-targets-1-000-can-it-hold-momentum">BNB Targets $1,000: Can It Hold Momentum?</h2>   
<p>After breaking through key resistance, BNB is set to challenge for its spot as the fourth-largest cryptocurrency by market cap. Technically, the next major target is $1,000—a key psychological level that could trigger a parabolic rally in the months ahead.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/ali_charts/status/1864087978563219507?s=46 
 </div>
</figure>   
<p>For this bullish trend to sustain, BNB must consistently close above the $725 resistance. Meanwhile, the weekly <a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noreferrer noopener">Relative Strength Index (RSI) </a>is nearing the crucial 70% mark, a level it hasn’t hit since early this year, indicating the potential for more upside.</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1733290979775">
  <strong class="schema-faq-question"><strong>What is driving the surge in BNB price?</strong></strong> 
  <p class="schema-faq-answer">BNB price is fueled by Binance ecosystem growth, rising DeFi activity, and strong inflows of stablecoins on Binance Exchange.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1733291020149">
  <strong class="schema-faq-question"><strong>How does Binance's ecosystem impact BNB price?</strong></strong> 
  <p class="schema-faq-answer">The Binance ecosystem's expansion, including $5.57B TVL on BSC and over 240M global users, strengthens BNB's adoption and price growth.</p> 
 </div> 
</div>   
<p><strong>The path to $1,000 might just be the beginning for BNB as altseason gains momentum.</strong></p>

BNB Price Hits New All-Time High as Altseason Starts: $1,000 Target Next?

Table of Contents

CoinPedia News

Other articles published on Dec 4, 2024

Vitalik Buterin Urges Web3 Wallet Developers to Prioritize Privacy and Security Features

Former Celsius CEO Alex Mashinsky Pleads Guilty to Fraud

Final Countdown for 2024’s Hottest Meme Coins BTFD Coin and 3 Others You Shouldn’t Ignore

PancakeSwap Launches SpringBoard: DeFi Token Surges Over 30%

How Many Dollars Will the XRP Price Rise to? Analysts Share Forecast For The Coming Months

Weekly Article Recap: 11/18-11/22

Join our free newsletter for daily crypto updates!