Binance Coin (BNB) is trading above $650 as some altcoins gain momentum, with Bitcoin above $108,600 and up nearly 3% in the past 24 hours. As top altcoins mirror the uptick, BNB price is up 1.7% and approaching the critical $700 resistance level. On the catalyst table is robust network activity and heightened decentralized finance (DeFi), which has BNB seeing a notable spike in daily volume. The BNB Chain is also recording significant numbers in decentralized exchange volumes as institutional adoption grows. BNB price: Bulls gain as $700 Over the past 24 hours, BNB’s price has risen by 1.7%, trading at $658 at the time of writing. The token’s price is in the red in a weekly frame, while it has gained 2.8% over the past month. However, BNB is looking to climb to $700, buoyed by increased network activity and positive market sentiment. The BNB Chain has seen a remarkable spike in DEX volume , processing over $4.29 billion in 24 hours and $35 billion this past week. In May, the volume hit over $100 billion. The jump in DEX volume highlights robust DeFi activity, with PancakeSwap leading the charge with $2.19 billion over the past 24 hours and more than $5 billion in the past seven days. Per CoinMarketCap, spot trading volume is up 18% to over $1.58 billion. Bulls may ride this surge in volume and open interest to go higher. In May, buyers managed to test bears above $690. The last time BNB traded above $700 was in January 2025. Meanwhile, its all-time high of $793 in December 2024. BNB price outlook: What next? Gains for BNB in recent weeks have come as the BNB Chain Foundation scooped up 17 BSC ecosystem assets. This follows the platform’s $100 million Incentive Program, which is in its second month. The BNB Chain Foundation’s 17 assets cut across ecosystem sectors such as artificial intelligence, decentralized finance, GameFi, and meme coins. Purchased tokens include PancakeSwap, Lista DAO, Video XBT, and Moolah. From technical indicators, charts suggest BNB is poised for further gains, though caution is warranted. The token is trading above its 50-day moving average, a bullish signal, but faces resistance at $670. BNB price chart by TradingView On the daily chart, the Relative Strength Index (RSI) remains in the neutral area near 51. This indicates buyers may have room for upward movement. However, the moving average convergence divergence suggests weakness remains following a recent bearish crossover. A flip positive will help buyers, but profit taking and overall market turbulence could derail this outlook. If BNB price breaks above $700, it could open up a retest of the ATH and potentially a run to $1,000. The post BNB price eyes $700 amid volume surge appeared first on Invezz
