Binance Coin Extends Gains with Institutional and On-Chain Growth Driving Investor Optimism
Binance Coin (BNB) continued to outperform the broader crypto market this week, trading around $1,090 after a brief pullback from its recent highs. The move comes amid rising enthusiasm for real-world asset (RWA) tokenization on the BNB Chain and speculation that Coinbase may consider listing the asset — a move that could expand institutional accessibility and liquidity.
BNB Technical Analysis: Retesting Support After Breakout
On the daily chart, BNB has broken out of a months-long ascending channel, finding strong support near $1,020–$1,050, as shown by the highlighted green zone. Despite mild intraday volatility, the structure remains bullish, with buyers defending key levels following a steep surge that saw prices briefly touch $1,200 before cooling off.
The next resistance is seen near $1,220–$1,250, with an all-time high (ATH) target at $1,371.93, while support rests around $900, a historically significant accumulation zone.
A BITX senior market analyst commented, “BNB has shown consistent strength relative to peers. The token’s resilience above $1,000 underscores growing confidence tied to its expanding RWA narrative and institutional participation.”
Fundamental Drivers: RWA Growth and Listing Speculation
Recent reports indicate that China Merchants Bank International has tokenized a money market fund (MMF) on the BNB Chain — marking another milestone for blockchain-based financial infrastructure. This development strengthens BNB’s position in the RWA sector, an area increasingly targeted by traditional finance institutions exploring blockchain efficiencies.
At the same time, rumors of Coinbase evaluating a potential BNB listing have ignited speculation, given that such a move would introduce the token to millions of U.S.-based investors. Market watchers suggest that even the possibility of inclusion has boosted BNB’s perceived legitimacy in Western markets.
While short-term corrections are possible, BNB’s long-term setup remains robust, supported by sustained on-chain activity, developer engagement, and institutional tokenization initiatives.
“If price holds above $1,050, a retest of $1,300 looks plausible within weeks,” One of BITX analyst noted. “BNB’s strength lies in both its ecosystem utility and the real-world applications now converging on its network.”
For now, BNB’s blend of technical stability and fundamental expansion continues to make it one of the most closely watched assets in the digital market landscape.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.