- VanEck’s spot BNB ETF filing has triggered a 42% surge in BNB’s trading volume, fueling speculation of a potential rally toward its all-time high of $790.
- With strong technical indicators, ongoing network upgrades, and growing institutional interest, BNB could be poised for a major breakout.
The cryptocurrency market is buzzing with excitement as asset management giant VanEck has officially filed for a spot BNB exchange-traded fund (ETF). This development has fueled a massive 42% surge in BNB’s trading volume, surpassing $2.12 billion, sparking speculation that BNB could soon retest its all-time high (ATH) of $790.
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BNB Price Shows Strength Amid Market Volatility
Despite recent market downturns, BNB has displayed remarkable resilience, maintaining a stronghold around the $610 mark. Unlike Bitcoin (BTC), Ethereum (ETH), and other major altcoins that faced double-digit losses in March, BNB remains relatively stable, down just 1% over the month. Analysts suggest that if BNB successfully completes its cup-and-handle formation at $662, a breakout toward its ATH could be imminent.
Burn Mechanism and Network Upgrades Support Price Growth
BNB’s deflationary tokenomics play a key role in maintaining its value. Over the past week, the network has burned approximately 951.85 BNB ($571,747.74), contributing to a total burn value of nearly $160 million. This mechanism continuously reduces supply, creating upward price pressure.
Further supporting the BNB ecosystem is the recent Pascal hard fork, which improved compatibility with Ethereum and enhanced transaction speeds. More network upgrades are scheduled for this quarter, potentially boosting BNB adoption. Additionally, BNB Chain’s rising popularity among meme coins has driven increased on-chain activity.
VanEck’s Spot BNB ETF: A Game-Changer?
On April 1, VanEck, a $115 billion asset management firm, filed for a spot BNB ETF in Delaware. If approved, this ETF could provide institutional investors with regulated exposure to BNB, significantly increasing demand. VanEck has already made successful inroads with Bitcoin and Ethereum ETFs, and its BNB filing suggests growing confidence in the asset.
What’s Next for BNB?
Technical indicators signal bullish momentum, with BNB trading above its 50-day moving average. However, the key resistance remains at $662. A decisive breakout above this level could trigger a strong rally toward its ATH of $790 and beyond. With institutional interest growing and market conditions aligning, BNB may be on the brink of a major price surge.
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