BNB price ascended to a new all-time high (ATH) on Sunday, clearing its previous peak of $809.84.
With this surge, nearly $180 million in total positions were wiped out as shorts dominated liquidations.
BNB Records New All-Time High Near $830
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Data on TradingView shows that BNB’s price reached a new ATH of $827.25 on Sunday, July 27. The BeInCrypto price index indicates that BNB is the biggest gainer among the top 20 cryptocurrencies. As of this writing, BNB was trading for $822.05, registering a modest pull-back.
It follows BNB’s price entry into an expansion phase over the weekend, when it broke above its 2-year resistance level and held strong above it.
Analysts ascribe the surge to rising BNB Chain network activity and companies expressing interest in a BNB treasury. BeInCrypto has reported two so far, comprising WindTree Therapeutics and Nano Labs, with more likely to join the trend.
“BNB Chain network activity is rising, Binance continues to be the #1 exchange, and companies are buying BNB for their Treasury. All this demand is certainly going to push BNB above $1,000 by Q4 and possibly $1,800-$2,000 by cycle top,” wrote one analyst.
Binance founder and former CEO Changpeng Zhao (CZ) recently hailed community and ecosystem support toward the network.
BNB is now the fourth-largest altcoin, excluding stablecoins, with a market capitalization of $114.61 billion.
Along with BNB’s surge to a new ATH, total crypto liquidations reached $178.04 million, with data on Coinglass showing 77,874 traders were blown out of the water in the last 24 hours. Notably, the largest single liquidation order happened on the Bybit exchange.
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Meanwhile, with BNB price ascending to a new ATH, short positions valued at $1.58 million were liquidated, against a modest $21,720 in long positions.
BNB’s breakout to an ATH is backed by strong market activity. Funding rates have flipped consistently positive, suggesting aggressive long positioning.
Open interest has surged past $1.3 billion, signaling rising trader conviction.
Meanwhile, daily trading volume spiked above $5 billion, its highest in months, confirming real momentum behind the rally rather than speculative noise.
source : https://beincrypto.com