As Bitcoin (BTC) buyers consolidate, aiming for a rally toward $100K, 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.
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.
In the last 24 hours, Binance Coin (BNB) 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.
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.
The Binance Smart Chain (BSC) 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.
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.
For this bullish trend to sustain, BNB must consistently close above the $725 resistance. Meanwhile, the weekly Relative Strength Index (RSI) is nearing the crucial 70% mark, a level it hasn’t hit since early this year, indicating the potential for more upside.
BNB price is fueled by Binance ecosystem growth, rising DeFi activity, and strong inflows of stablecoins on Binance Exchange.
The Binance ecosystem’s expansion, including $5.57B TVL on BSC and over 240M global users, strengthens BNB’s adoption and price growth.
The path to $1,000 might just be the beginning for BNB as altseason gains momentum.
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