Binance Coin on May 29, 2025: Growth Driven by Strong Ecosystem

Binance Coin rises 3% to $705, fueled by ecosystem activity and ETF developments.

On May 29, 2025, Binance Coin (BNB) has risen approximately 3% to $705, drawing significant attention in the cryptocurrency market. This price increase occurs amid broader market volatility driven by Bitcoin fluctuations and macroeconomic factors, but BNB stands out due to robust Binance ecosystem activity and institutional demand. From a technical perspective, BNB exhibits strong bullish signals after breaking out of a symmetrical triangle pattern. The Relative Strength Index (RSI) on the daily chart is around 65, indicating solid bullish momentum without entering overbought territory. The key support level at $682 has been tested multiple times, reflecting sustained buyer interest. The primary resistance lies between $750 and $760, and breaking this could propel BNB toward $800. However, derivatives data suggests active sellers in this range, which may slow the upward move. A major driver of BNB’s growth is the heightened activity within the Binance ecosystem. The BNB Chain has seen a 73% surge in daily active addresses, rising from 1.19 million to 2.06 million. This growth reflects increased usage of decentralized applications (DApps) and decentralized exchanges (DEXs) on the chain. Daily DEX trading volume on the BNB Chain has also hit over $12 billion, the highest in 2025. Additionally, recent discussions around launching BNB-related exchange-traded funds (ETFs) have bolstered institutional demand. Reports indicate over $400 million in inflows to BNB-linked investment products in May, signaling growing institutional confidence. These inflows could further drive upward price pressure. However, macroeconomic factors, such as monetary policies and trade tensions, pose potential risks. Recent banking authority statements about limited rate cuts have tempered expectations for rapid growth in high-risk assets. Moreover, some market whales are taking profits, which could increase selling pressure at resistance levels. Analysts note BNB’s decreasing correlation with Bitcoin, dropping from 0.6 at the year’s start to 0.15 by late May. This relative independence could allow BNB to outperform during altcoin seasons. Some forecasts project prices reaching $1,200 by the end of 2025, particularly if ETFs are approved. Overall, BNB on May 29, 2025, is in a strong position. Traders should monitor key support and resistance levels and adopt risk management strategies, such as staggered buying near $682. While short-term resistance may slow growth, BNB’s mid-term outlook remains positive.