Binance Coin (BNB) has broken out of its multi-year range, establishing new support at $700 and heading towards a new target of $1100.
BNB Breakout and Its Significance
BNB closed above $700, marking an important signal for traders as it entered 'blue sky' territory with no historical resistance on the chart. This isn't just a temporary increase, but rather the result of sustained movement confirmed by multiple daily candles.
Financial Backing and Volume Surge
With strong capital inflow volumes, BNB has received additional support. On September 8, Binance reported $6.2 billion in stablecoin inflows, marking the largest single-day intake for 2025. This has had a significant impact on BNB's price movement.
Binance Infrastructure Expansion
Binance continues to expand its infrastructure. Binance Pay is now available on Zapper’s network of over 31,000 merchants, allowing users to spend crypto at real-world checkout points via scanning. This enhances BNB's relevance in the real world.
The recent breakout of BNB and confirmation of support at $700, along with increased volumes and the expansion of Binance's infrastructure, pave the way for the cryptocurrency to potentially reach $1100.
