BNB Sets $1,111 All-Time High as Network Activity Grows and Treasuries Continue Buying – $2,000 Possible?

BNB surged to an all-time high of $1,111.90 on October 3, extending gains to 7.27% in 24 hours and triggering $268 million in short liquidations across crypto markets.

The rally pushed BNB’s market capitalization above $160 billion, solidifying its position as the world’s fourth-largest crypto while processing $3.74 billion in daily DEX volume according to DefiLlama data. This spike also solidifies BNB’s position among the top crypto tokens in terms of price performance in recent weeks.

The breakthrough comes as BNB Chain processes 2.3 million active addresses daily, with a total value locked of $8.23 billion across DeFi protocols, representing a 2.49% growth over the past 24 hours.

The network generated $1.01 million in chain fees and $3.4 million in application fees, while maintaining a stablecoin market capitalization of $13.47 billion.

Kazakhstan’s selection of BNB as the inaugural asset for its Alem Crypto Fund national reserve provided institutional validation, contributing to the accelerated ascent of BNB beyond the psychological $1,000 barrier.

Kazakhstan Reserve Launch Sparks Institutional Treasury Trend

Kazakhstan’s Ministry of Artificial Intelligence and Digital Development has established the Alem Crypto Fund in partnership with Binance Kazakhstan.

Deputy Prime Minister Zhaslan Madiyev stated that the fund aims to become “a reliable instrument for major investors and a key foundation for digital state reserves.”

The initiative builds on President Kassym-Jomart Tokayev’s directive to create state-backed crypto reserves through the National Bank’s Investment Corporation.

Earlier in Aug, B Strategy launched a $1 billion BNB-focused treasury company backed by YZi Labs, formerly Binance Labs, establishing what founders call the first US-listed BNB treasury vehicle.

Several Asia-based family offices, including those connected to Binance founder Changpeng Zhao, anchored the initial raise.

The move follows 10X Capital’s separate US-based BNB treasury company, led by Galaxy Digital co-founder David Namdar and former CalPERS CIO Russell Read, as they prepare for a major exchange listing.

BNB Network Company purchased 200,000 BNB worth $160 million, becoming the largest corporate holder.

Hong Kong-listed Nano Labs also acquired 74,315 BNB for $50 million in July at an average price of $672, outlining plans to accumulate up to $1 billion targeting 5-10% of the circulating supply.

Nasdaq-listed Windtree Therapeutics also plans to allocate 99% of its $520 million funding round toward BNB purchases.

Validator Proposal Targets 50% Fee Cut to Challenge Solana

Just last month, BNB Chain validators proposed slashing gas fees by 50% and accelerating block speeds to maintain competitiveness against Solana and Base.

The proposal would reduce the minimum gas price from 0.1 Gwei to 0.05 Gwei, while shortening block intervals from 750 milliseconds to 450 milliseconds.

Average transaction costs would drop to approximately $0.005 per transaction under the proposal, positioning BNB Smart Chain alongside the cheapest networks.

Changpeng Zhao endorsed the initiative shortly after the proposal emerged, as BNB reached its previous peak above $1,000 in September.

Previous fee reductions led to massive usage increases, with daily transactions surging 140% to exceed 12 million.

The rally notably occurred despite a security breach of the official BNB Chain X account on October 1, with Zhao warning users not to click suspicious links promoting a fake $BSC rewards program.

The account posted fraudulent messages claiming early rewards for voting on “upcoming BSC rewards date,” though teams quickly identified and contained the phishing attempt.

Technical Analysis Projects $1,200-$1,500 Near-Term Targets

BNB’s 4-hour chart displays a bullish flag pattern breaking to the upside, currently trading around $1,109 just below the projected $1,200 target.

The pattern shows consolidation within converging trendlines after the initial surge to all-time highs, with recent breakout suggesting continuation.

From a longer logarithmic view, the chart shows the complete journey from 2018 lows around $3 to current levels above $1,000, with Fibonacci extensions suggesting projected advances to $3,018, $4,280, and ultimately $6,155.

BNB has delivered returns exceeding 30,000% from its 2018 bottom, although moves from $1,000 to $6,000 require fundamentally different capital inflows than early-stage advances.

Technical patterns suggest a near-term continuation toward $1,200-$1,300 if momentum is sustained, with a potential extension to $1,500 on strong institutional buying.

The $950 – $1,000 zone represents critical support, with failure to hold this level triggering a retracement toward $850 – $900.

Aggressive multi-thousand-dollar targets ($2,000-$6,000) require extraordinary growth assumptions and capital inflows that may not materialize, particularly given the current market capitalization exceeding $160 billion.

The most probable scenario involves consolidation between $1,000 and $1,300 over the coming weeks, with a breakout above $1,300 opening the path toward $1,500-$1,600 before an extended correction.

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