CoinDesk 2025-05-22 09:03:06

BNB Surges 5% on Binance Ecosystem Strength as Bitcoin Extends Gains

BNB's impressive 24-hour rally showcases the growing strength of the Binance ecosystem amid broader crypto market optimism. The token's upward momentum coincides with Bitcoin's approach toward new all-time highs and increased activity across the BNB Chain, which recently recorded over 8 million daily transactions and 2 million active wallet addresses. Technical indicators remain bullish for BNB, with strong support established at $682 and multiple tests of this level showing sustained buyer interest despite minor resistance around $684, according to CoinDesk Research's technical analysis data model. Technical Analysis Highlights Price action formed a clear uptrend with significant volume spikes at the 15:00 and 16:00 hours on May 21st (183K and 186K respectively). Strong volume support established around the $663-$670 zone. The asset encountered resistance near $689.35 during the 03:00 hour on May 22nd before a minor pullback. Support maintained at $679.08, suggesting continued bullish momentum. Notable volatility in the last hour with a significant price surge between 07:35-07:37, climbing from $680.85 to $683.78 (0.43% increase). Multiple tests of $682.00 level showing buyer interest, with resistance around $683.90. Volume peaked during the 07:37 period with over 7,190 units traded, confirming strength of upward movement. Final minutes showed consolidation around $682.28, suggesting temporary equilibrium after volatile trading. External References " Binance Coin BNB Breaks Bull Flag, Targets $750 Amid Maxwell Hardfork Buzz ", The Crypto Basic, published May 21, 2025. " Binance’s Spot-to-Futures Ratio Hits 1.5-Year Peak as Bitcoin Reclaims $109K ", NewsBTC, published May 22, 2025.