BNB extended its rally above $1,200, gaining more than 4% in the past 24 hours as activity on the BNB Chain surged and institutional interest strengthened. The token hit an intraday high of $1,223 before settling around $1,201, according to CoinDesk Research data.

The latest move coincides with the BNB Chain reclaiming its position as the most-used blockchain by active addresses. In September, the network logged 52.5 million active addresses—surpassing Solana for the first time since August, TokenTerminal data shows. Much of the uptick came from a sharp rise in decentralized trading and lending on Aster Protocol, whose total value locked (TVL) soared 570% to $2.34 billion, per DeFiLlama.

Retail speculation also appears to be fueling the rally. One memecoin trader reportedly turned a $3,000 investment into nearly $2 million after a post from Binance founder Changpeng Zhao reignited social media buzz around the ecosystem.

Institutional participation added further support. Both Jiuzi Holdings, an electric vehicle manufacturer, and Kazakhstan’s Alem Crypto Fund disclosed adding BNB to their treasuries, signaling growing confidence among corporate investors.

Macroeconomic tailwinds are also at play. Market participants widely expect the Federal Reserve to cut interest rates by 25 basis points later this month—an outlook that has buoyed crypto assets across the board. BNB has also benefited from a recent network upgrade that reduced its minimum gas fee to 0.05 Gwei, improving transaction efficiency.

Technical Overview

BNB traded between $1,148 and $1,223 during the session, closing at $1,201—a 2.27% daily gain. The breakout above $1,200 was accompanied by a surge in trading volume, with activity spiking to nearly five times the daily average at its peak. That volume burst coincided with the intraday high, establishing a key resistance zone around $1,223.

Support remains firm between $1,148 and $1,158, where consistent buying pressure suggests institutional accumulation. Each dip into this range was met with renewed demand.

Despite a late-session pullback after testing resistance near $1,215, BNB held most of its gains and maintained levels above $1,200. The move suggests continued bullish momentum, supported by strong fundamentals and renewed investor confidence in the ecosystem.