(MENAFN- DailyFX (IG)) ​​​Binance Coin trades near record high

​Binance and its native token BNB are riding a wave of momentum this week, with fresh catalysts reinforcing the bullish narrative that had already been building prior to recent highs.

​BNB recently smashed past $1,300.00 for the first time ever, reaching an all-time high of $1,355.10, buoyed by broader market strength and major inflows into the Binance ecosystem.

​One of the standout developments has been BNB's surge in mindshare: in just one week, investor interest has spiked over 250 percent, reflecting growing conviction that the BNB Chain is a core infrastructure play in the evolving blockchain landscape.

​Key to that narrative is Binance's announcement that YZi Labs (formerly Binance Labs) will commit $1 billion towards developer grants, incentives, and infrastructure growth across DeFi, AI, and real-world asset (RWA) projects on BNB Chain.

​That builder fund is more than just a headline - it signals Binance's intent to deepen protocol-level utility rather than just relying on speculative demand.

​At the same time, the BNB ecosystem is seeing upside from memecoin activity on the chain, rising DEX volumes, and increased usage of low-cost, high-throughput blockchains in a market looking for alternatives to congested networks.

​Looking back to September, Binance had already garnered attention for its institution-level credibility: the platform announced a strategic partnership with Franklin Templeton to issue digital asset products, which helped BNB break past previous highs.

​Earlier that month, the token had crossed the psychological $1,000.00 threshold amid rumours that Binance was nearing an agreement with US authorities to resolve compliance issues and possibly bring back its founder CZ in some capacity.

​Despite the rally, some caution remains. As BNB extends into uncharted price territory, momentum could be susceptible to overextension, profit-taking, or macro headwinds.

​The success of the $1 billion builder fund hinges on whether projects actually bring meaningful activity and value to the chain rather than just speculative hype.

​Moreover, Binance still must navigate regulatory environments globally - even though its recent legal challenges, including a dropped SEC lawsuit, have lessened some overhang.

​Still, the recent developments suggest that BNB is moving beyond just exchange-token status. Its trajectory is increasingly tied to real utility growth, ecosystem adoption, and capital inflow.

​If Binance can execute on infrastructure expansion while retaining network integrity, BNB's run may not just be a fleeting hype cycle, but a legitimate step toward becoming a core asset in the evolving Web3 stack.

​BNB bullish scenario:

​BNB has Tuesday's $1,355.10 record high in its sights, a rise above which would allow for a 161.8% Fibonacci extension target at $1463.40 to be next in focus, together with the psychological $1,500.00 region.

​Support below Thursday's $1,254.70 low can be spotted around the 3 October high at $1,192.70.

​BNB bearish scenario:

​Only a sharp bearish reversal and fall through the late September $933.40 low would void the current medium-term bullish outlook and may trigger a drop toward the mid-September low at $911.30.​​

BNB daily candlestick chart Source: TradingView Important to know

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