- Binance coin has overtaken XRP and USDT to become the third-largest cryptocurrency, hitting a new all-time high of $1,319.
- Technical and on-chain indicators suggest its price could rise further, potentially reaching $1,876.
Binance Coin (BNB) has achieved a major milestone, overtaking XRP and Tether (USDT) to claim the position of the third-largest cryptocurrency by market capitalization. This surge comes amid strong ecosystem growth and bullish technical indicators, suggesting the coin may continue its upward trajectory.
BNB Tops XRP and USDT
As of writing, BNB’s market capitalization stands at $183.98 billion, edging past XRP’s $177.95 billion and USDT’s $177.53 billion. The token’s price recently hit an all-time high of $1,319, highlighting its remarkable performance despite a lower circulating supply than USDT.
BNB’s ascent reflects not only its price surge but also the expanding influence of the Binance ecosystem. Projects backed by Binance, such as Aster (ASTER), and record-high decentralized exchange (DEX) volumes have contributed to heightened investor interest.
Technical Indicators Signal Continued Strength
From a technical perspective, BNB is showing strong bullish momentum. The coin recently broke above the upper trendline of a symmetrical triangle, confirming a robust uptrend. On shorter timeframes, the 50-day Exponential Moving Average (EMA) has crossed above the 200-day EMA, a classic bullish signal.
BNB currently trades above both EMAs, indicating strong support below the current price and suggesting that short-term pullbacks could present buying opportunities rather than threats.
On-Chain Metrics Support Upward Trend
Daily charts reveal consistent higher lows, with the Chaikin Money Flow (CMF) remaining above zero, pointing to sustained buying pressure. Additionally, the Parabolic Stop and Reverse (SAR) dots are positioned below the price, signaling that bulls remain in control and the rally could extend further.
Price Outlook: Could $1,800 Be Next?
If current trends persist, BNB’s price could potentially climb to $1,876. However, analysts caution that declining trading volumes or increased selling pressure could trigger a pullback, with support around $1,036 serving as a safety net.
BNB’s recent performance demonstrates both the strength of its ecosystem and the confidence of investors, making it a key contender among top cryptocurrencies. Market watchers will be closely monitoring whether BNB can sustain this rally or if short-term corrections will take hold.
ALSO READ:Binance Coin Smashes New All-Time High with $1,320 Target in Sight
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