BNB Analysis on May 24, 2025: Will the Bullish Rally Continue?

Analysis of BNB’s developments on May 24, 2025, focusing on ETFs, DeFi activity, and price trends.

On May 24, 2025, Binance Coin (BNB) remains a leading cryptocurrency in the market. Its price fluctuated between $670 and $690, reflecting the continuation of its recent bullish trend. Several factors, including ETF approval rumors, surging DeFi activity on the BNB Chain, and the Maxwell hard fork, have contributed to this growth. A major development is the speculation around the approval of a BNB ETF in the United States. Multiple applications, including one from VanEck, have fueled market optimism. These ETFs could boost institutional demand and push BNB’s price to new heights. Additionally, the BNB Chain has seen a significant surge in activity, with daily transactions reaching 8 million and active wallets hitting 2 million. These metrics highlight the widespread adoption and growth of the Binance ecosystem. The Maxwell hard fork, implemented in early May, reduced block times to under one second, enhancing network efficiency. This upgrade could lower transaction costs and strengthen BNB Chain’s competitiveness against Ethereum and Solana. From a technical perspective, BNB has formed an ascending triangle pattern on daily charts, signaling continued bullish momentum. Key support at $680 and resistance at $745 are critical levels to watch. Breaking the $745 resistance could drive prices toward $850 or even $1,000. However, risks such as global trade tensions and crypto market volatility could create selling pressure. Despite these risks, BNB’s deep connection to Binance, the world’s largest centralized exchange, and its deflationary tokenomics make it an attractive investment. Investors should monitor support and resistance levels and exercise caution, especially in uncertain economic conditions.