Key Insights:
- Binance Coin holds firm near $770 as it trades 4.9% below its weekly high of $809, which now serves as resistance.
- Institutional holdings in BNB surged to $1.52 billion, driven by major treasury allocations from Windtree and Nano Labs.
- The BNB Chain continues to lead in active addresses, supporting positive price momentum despite broader market declines.
Binance Coin (BNB) closed trading on July 25 with a modest 1% gain, stabilizing near the $770 level. Earlier this week, BNB reached a new all-time high of $809. Although the price has pulled back by nearly 5% from that peak, it continues to trade within a rising channel.
The $809 mark has become a key resistance level. Market analysts observe that if BNB manages to break through this level, the path toward $1,000 could reopen. However, increased selling pressure since the peak has limited upward momentum, despite buyer dominance still reflected in the Directional Movement Index.
Growing Treasury Holdings Boost Market Confidence
One of the most notable developments has been the rapid growth in BNB treasury holdings. On July 24, Windtree disclosed a $520 million allocation into BNB, accounting for nearly all of its funding. This move followed Nano Labs’ $90 million BNB purchase, bringing total recent institutional inflows to $610 million. These investments have pushed the overall treasury value to $1.52 billion.
Source: TradingView
While upward movement has slowed, BNB has continued to receive support near $743. This level may act as a buffer if sellers increase their activity. A decline below the 50-day simple moving average could potentially shift trader sentiment, but for now, bullish sentiment remains intact.
On-Chain Activity and Broader Market Positioning
Despite broader market weakness, BNB stands out due to active participation on its blockchain. The BNB Chain hosts the highest number of addresses, largely driven by stablecoin activity. This sustained engagement contributes to BNB’s positioning as a standout asset in the digital market space.
