Binance Coin (BNB) has surged this week, hitting a record high of $794. Over 12 months, it outperformed Ethereum and Bitcoin, with a 220% gain versus BTC’s 133% and ETH’s 71%. CZ responded to an X post on this, saying investors focus too much on short-term (24 or 8 hours) performance and miss long-term wins.
BNB’s momentum stems from solid fundamentals and technicals. The BSC ecosystem’s DeFi value locked nears $6 billion, making it the fourth-largest chain. BSC’s DEX protocols have spiked recently, handling $9.91 billion in 30 days and $1.17 trillion cumulatively.
Binance’s coin burning, like the latest 2.02 million-coin reduction, aims to cut the supply to 100 million. The BFUSD stablecoin launch added utility. Regulatory relief, after CZ’s US prison sentence end, also boosted BNB.
Technically, a cup and handle pattern on the weekly chart and its breakout above suggest a potential 70% rally to $1,170. The Murrey Math Lines tool shows a bullish outlook, with a target of $875 if it stays above the “weak, stop & reverse” level. But a fall below $625 (“strong pivot reverse”) would end the bullish scenario.
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