Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Binance Coin (BNB) hit an all-time high of $900.71, smashing the July record and finally breaking through the resistance that had kept the token's price capped since 2021.
Of course, the euphoria followed on par with a quick change in people's expectations. Market talk skipped the usual steps and is now focused on $2,000 as the next important number for the world's biggest crypto exchange's native token.
Changpeng Zhao, Binance founder, decided to add fuel to the narrative, though through cryptic signals rather than explicit commentary.
As a proper riddler, he put eye emojis under posts predicting $2,000. Some may see that as tacit alignment, which is a way of making a prediction without saying it outright.
Price models, which CZ co-signed, show interim markers at $1,175 and $1,658 per BNB, with an extended case toward $2,140 if current structural integrity goes on.
Not only do these projections use technical charting, but they also acknowledge the token's role in Binance's infrastructure with BNB being the unit for transaction fees, which also underpins Binance Smart Chain. This operational anchor sets the rally apart from speculation that's driven solely by feelings like, for example, meme coins.
Bottom line
The market depth and liquidity data backs the recent growth. One of key proofs is that the trading volume on Binance went up during the breakout. That detail is important in determining whether the move holds or fades.
The new active reference point is $2,000. This is based on community charts, Zhao's signals and how Binance is functioning.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team