Binance Coin cracked the top five cryptocurrencies by market cap this past weekend, vaulting past both Polkadot and ChainLink. The token hit $32.00, a level not seen since August 2019. The move came
Binance Coin cracked the top five cryptocurrencies by market cap this past weekend, vaulting past both Polkadot and ChainLink. The token hit $32.00, a level not seen since August 2019.
The move came after a dramatic surge. BNB bottomed near $18.00 just days before the weekend rally. From there it climbed 42 percent in seven days. Trading swung upward from $25.00 lows as buyers pushed to break through key resistance levels. If that holds, traders see potential for BNB to reach its previous all-time high near $40.00.
The ranking shift reflects real market movement. CoinMarketCap shows BNB at a $4.54 billion market cap, putting it ahead of Polkadot's $4.44 billion. ChainLink dropped to seventh place with $4.13 billion.
The price momentum traces back to Binance ecosystem activity. Launchpool and Bella Protocol (BEL) launched on the exchange in recent days. Binance Smart Chain, the new DeFi platform, became the main attraction. Transaction volume on the chain exploded. Bscscan data shows daily transaction counts jumped from around 30,000 on Saturday to over 139,000 on Sunday. Changpeng Zhao, Binance's CEO, noted on Twitter that those transactions hit 14 percent of Ethereum's daily volume at the time.
Burgerswap handled the bulk of that activity. Investors staked nearly $400 million in BNB tokens on the platform. Cream Finance and BakerySwap also accounted for sizable transaction volumes on the chain.
On the technical side, BNB broke through its 50-day and 200-day moving averages with volume backing the move. On the four-hour chart, the MACD indicator shows bullish momentum. The relative strength index hasn't climbed into overbought territory.
For bulls to push higher, the token needs a weekly close above $35.00 to target that $40.00 level. If sentiment turns, support exists at the 100-day and 200-day moving averages near $23.18 and $23.89. At the time of writing, BNB traded at $32.07 as the four-hour uptrend continued.
