Binance Coin (BNB) is showing impressive growth amid new initiatives by BNB Chain and the recovery of capital in DeFi.
Current Situation and BNB Growth
Currently, BNB is trading at $884.30, just $15.70 below its all-time high of $900, reached on August 14. Over the past week, the price has increased by 7.93%, and 15.02% this month. This clear growth is associated with increased network utility and renewed investor confidence in the Binance ecosystem.
BNB Chain Innovations and DeFi
BNB Chain is actively working to enhance its interoperability through the Rollup-as-a-Service (RaaS) initiative, improving scalability and lowering transaction costs for decentralized applications. Meanwhile, the BNB Chain DeFi system has seen a notable rebound in total value locked (TVL), driven by renewed stablecoin liquidity and yield opportunities.
Technical Analysis and Predictions
From a technical perspective, BNB continues to show strong buy signals supported by RSI, MACD, and moving averages. The current support is at $870, while resistance is noted around $900. A confirmed breakout could push BNB towards the psychological levels of $950–$1,000, with downside risks at $850.
BNB Coin is demonstrating solid results amid BNB Chain's extensive efforts to improve its technology and market DeFi offerings. Noted confidence from long-term holders due to the accumulation by major investors.
