BNB surged above $1,200 on Monday, rising more than 4% in 24 hours as on-chain activity and institutional demand accelerated. The token reached an intraday high of $1,223 before closing near $1,201, according to CoinDesk Research data.
The rally comes as the BNB Chain reclaimed its title as the most active blockchain by user count. In September, it recorded 52.5 million active addresses—surpassing Solana for the first time since August, per TokenTerminal. The spike was driven largely by soaring decentralized trading and lending on Aster Protocol, whose total value locked jumped 570% to $2.34 billion, according to DeFiLlama.
Retail enthusiasm also played a role. One high-profile trader reportedly turned a $3,000 memecoin bet into nearly $2 million after a post from Binance founder Changpeng Zhao sparked renewed speculation across BNB-linked tokens.
Institutional adoption added further momentum, with electric vehicle firm Jiuzi Holdings and Kazakhstan’s Alem Crypto Fund revealing new BNB allocations to their treasuries.
Broader macro trends are contributing as well. Expectations that the Federal Reserve will cut interest rates by 25 basis points this month have supported crypto markets, while a recent BNB Chain upgrade—reducing minimum gas fees to 0.05 Gwei—has improved network efficiency.
Technical Analysis
BNB traded between $1,148 and $1,223 during the session, ending up 2.27% on the day. The push above $1,200 coincided with a sharp spike in trading volume, reaching nearly five times its daily average. Resistance remains near $1,223, while consistent buying interest around $1,150–$1,160 suggests strong support and possible institutional accumulation.
Despite a late-session pullback from $1,215, profit-taking appeared measured, and BNB held most of its gains above $1,200—keeping the current uptrend intact.
