Binance Coin (BNB) has reached a new all-time high, hitting $804.70 on July 23, 2025. This milestone comes as a result of a steady upward trend supported by increasing institutional interest and heightened activity on the BNB Chain network.

Institutional Buying Drives Momentum

According to CoinGlass, open interest in BNB futures has risen by 19%, reaching $1.23 billion, indicating growing engagement from traders and investors. One notable player was the Chinese company Nano Labs, which executed an over-the-counter purchase worth approximately $90 million at an average price of $707. This highlights rising institutional demand for BNB as a strategic long-term asset.

BNB Chain Activity Reaches New Highs

On-chain data also shows strong growth. Daily decentralized exchange (DEX) volume on BNB Chain exceeded $14.6 billion, while monthly volume surpassed $192 billion. These figures reflect not only trading interest but also the practical use of BNB in decentralized applications, DeFi protocols, gaming, and NFT markets.

Technical Indicators Show Signs of Overheating

From a technical perspective, BNB appears overbought. The Relative Strength Index (RSI) exceeds 87, which may indicate short-term overheating. At the same time, the MACD remains in bullish territory, suggesting that upward momentum is still intact and not yet exhausted.

Outlook and Risk Factors for the Near Future

The $800 level now serves as a key support zone. If the upward trend continues, the next target areas may lie around $850 and $900. Additionally, the Altseason Index, which measures the capital shift from Bitcoin to altcoins, remains above 50 points. This suggests that a new altcoin market phase may be underway, with BNB emerging as one of its early leaders.

Despite the optimistic outlook, there are still potential risks. Overbought technical indicators could lead to a local correction, and regulatory developments—particularly in the US and Europe—could introduce new volatility. Nonetheless, BNB's rise to $800 confirms its position as one of the crypto market's leading assets, backed by strong demand and a well-established ecosystem.

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