- BNB Gains Momentum Amid Explosive User Growth: Binance Wallet pulled in over 4.3 million new users in just a week, commanding more than 90% of the weekly crypto swap market with $3 billion in volume, driven by token-gated airdrops and staking incentives.
- BNB Chain Activity Surges: The BNB Chain saw a 128% spike in DEX volumes, reaching $19 billion last week and securing 19% of the DEX market share, positioning it as a key player alongside Solana.
- Path to $900 in Sight: BNB is currently trading between $690 and $720, but if it can break through resistance and hold support at $640–$645, analysts believe the next target could be $900, a level not seen since the last bull market peak.
BNB’s making some noise again – and it’s not just the price action. With Binance Wallet usage exploding and on-chain activity spiking, the native token is starting to look like a serious contender for the next leg of the bull run. Over 4.3 million new users jumped on board in just a week, and Binance Wallet now commands over 90% of the weekly crypto swap market. That’s no small feat.
Binance Wallet Takes Over – $3 Billion in Weekly Swaps
The Binance Wallet’s become a major player, pulling in over $3 billion in swap volume last week alone. According to Dune Analytics, that’s more than 90% of the total weekly swap volume across the crypto market. Why the surge? Well, it’s not just luck.
Industry analyst Dovey Wan thinks it’s all about the airdrop game. Binance has turned the wallet into a token-gated airdrop club, offering exclusive listing opportunities and incentives that require users to hold or stake BNB. ‘The wallet became a token-gated airdrop club and yield tool,’ Wan said, pointing out how these incentives keep driving up demand for BNB.
BNB Chain – On Fire
Meanwhile, the broader BNB Chain is also heating up. Last week, decentralized exchange (DEX) volumes spiked 128%, hitting nearly $19 billion. That gave BNB Chain a 19% share of the DEX market – just behind Solana, which led with 28%.
As risk appetite grows, BNB’s deep integration within its own ecosystem could give it a leg up over other altcoins. If the incentives keep rolling in, BNB could start to mimic Solana’s explosive rally earlier this year, when SOL surged to $295 on the back of DeFi hype and transaction volume.
Technical Outlook – $900 in Sight?
On the charts, BNB is testing resistance between $690 and $720, but it’s found some decent support around $640-$645. That’s right in the middle of a multi-month ascending channel – and a solid base to push higher.
If BNB can break through $720, analysts think the next target is $900 – a level not seen since the last bull market peak. But for that to happen, on-chain metrics need to stay strong, and Binance has to keep the momentum going with product updates and community incentives.
Risks and Caution
Of course, it’s not all sunshine and rainbows. Broader market volatility, regulatory risks, or a slowdown in user growth could slam the brakes on BNB’s rally. For now, though, the setup looks promising – but keeping a close eye on those key support levels is crucial.
The Bottom Line
BNB’s positioned well for a breakout, with strong user growth, rising DEX volumes, and increasing on-chain activity all working in its favor. If it can clear that $720 resistance and hold support, the path to $900 could open up fast. But with crypto, anything can happen – so stay sharp and watch those charts.
