Binance Coin (BNB) is currently trading just 17% below its all-time high (ATH) of $793, significantly outperforming most major altcoins, many of which remain over 40% below their peaks. This notable price strength is supported by regular quarterly token burns that have permanently removed more than 60 million BNB tokens from circulation, reducing the circulating supply from an original 200 million to approximately 140 million tokens. Most of the circulating tokens are either staked or locked within Binance’s ecosystem, which contributes further to scarcity and price stability.
BNB’s strong performance is also underpinned by robust technical indicators and on-chain data. The coin set a new high in December 2024 and has maintained a consolidation pattern without significant drawdowns, indicating healthy price action. The Total Value Locked (TVL) on the BNB platform recently surpassed $6 billion, reaching a three-year high, and stablecoin supply on the BNB Chain hit a two-year peak, suggesting capital is accumulating on the sidelines waiting for deployment.
Additionally, Binance Chain has seen a surge in network activity, recording its most active week in over a year with 123 million transactions within seven days. Expectations are growing around the upcoming Maxwell hard fork, which promises improved transaction speeds and integration of AI components; this upgrade could potentially double transaction volumes and enhance network efficiency.
Technical analysts forecast multiple bullish price targets for BNB, ranging between $1,200 and $2,000 in the medium term, with some optimistic long-term targets near $4,280. Despite current short-term consolidation, the token’s controlled emissions, limited supply, and growing demand within the ecosystem provide strong fundamentals for future price appreciation.