Binance Coin (BNB) Outperforms the Altcoin Market, Setting New All-Time Highs

Whereas a majority of altcoins have fallen by up to 98.5% from their record highs, Binance Coin (BNB) has been a major outlier.

Binance Coin (BNB) is one of the few crypto assets in the current cycle that is largely unimpacted and, quite remarkably, one of the only assets that has recorded a new all-time high. Whereas a majority of altcoins have fallen by up to 98.5% from their record highs, BNB has strength that exists independently of price performance.

The coin is highly integrated within the Binance platform, on which it is applied for trading fee reductions, transaction fees, and Binance Smart Chain activity. Its utility is still creating genuine demand, especially as traders who are using other altcoins on decentralized exchanges are increasingly exchanging them for Binance Coin in order to use it for trading fees on centralized exchanges. This broad application has established Binance Coin as a crucial piece of the overall crypto ecosystem.

Unlike most speculative altcoins, BNB has a firm foundation and expanding user population. Consequently, it is the strongest-performing altcoin on the market at present, second only to Bitcoin for resilience and investor support.

BNB Bulls Eye $625 and $640 Price Targets

As of writing, BNB is trading at a price of $608.10 with a 24-hour volume of $1.6B and a market capitalization of $ 86.2B. Binance Coin has appreciated by 1% within the last 24 hours and has gained 1.93% within the last week, with clear signs of upward momentum.

Binance Coin is on a tear on the green side! From a low of $593.97, it spiked to a new peak of $609.07, a sturdy 2.5% intraday increase. Supported by a 24-hour volume of 198K Binance Coin and a wall of green candles, the bulls have no doubt gained control.

Support at the present levels of $602 to $606 is standing firm, offering a good foundation for the next upward leg. With momentum building and resistance at $609.07 already being challenged, the way is established for higher levels.

Traders are eyeing the next bullish targets: $625 as the first take-profit zone (TP1) and $640 as the second (TP2). If the current buying pressure continues, a breakout toward these levels seems highly probable. BNB’s rally isn’t showing signs of slowing, strap in, the bulls are charging ahead.