The number of BNB addresses is now at a new all-time high.
Spot and derivative traders coincided with potential BNB meetings in upcoming trading sessions.
Despite a 4.53% drop in the last 24 hours, Binance Coin (BNB) appears likely to resume bullish momentum. In particular, feelings between top traders and spot investors began to get bullish.
Recent chain market activities have suggested the possibility of a BNB price boom in future sessions due to clearly bullish outlook.
BNB adoption could quickly surge
The number of unique addresses in the BNB chain has increased significantly over the past 24 hours, reaching a new all-time high of 500 million addresses.
This milestone shows an increase in adoption that could have a positive impact on the native token, BNB, as the increase and use of transactions are likely to coincide with market gatherings.
Source: bscscan.com
However, while meetings are possible, a price surge may not be realized if broader market sentiment remains bearish as it is now.
Market sentiment and chain analysis
Ambcrypto analyzed market sentiment and determined the possibility of BNB price transfer in future trading sessions.
Spot traders have been buying BNBs for the past few weeks. During January 27th, $117.84 million worth of BNB was purchased during press time.
Source: Coinglass
This was determined through Coinglass Exchange Netflow data and became negative.
Negative Netflow suggests an increase in purchasing activity as it moves holds from the exchange to private wallets rather than keeping the exchange due to sold out.
The derivatives market shared similar bullish sentiment. Currently, Binance’s top derivative traders are the most optimistic, with a long-term ratio reading 2.369 and measuring the number of buyers and sellers.
This indicates more buyers than sellers, as values above 1 increase purchase activity.
BNB price transfer on chart
BNB prices have begun to adjust with bullish sentiment on the charts. Recently, we have recognised a violation of the support level.
The press conference was trading near $605.90 support. It serves as a catalyst for significant upward movement, clearing the reverse fluidity marked in blue and targeting $793.86.
Source: TradingView
Read Binance Coin (BNB) Price Forecast 2025–2026
Adding to the bullish outlook is the parabolic SAR (reverse to stop) indicator that uses dots to identify potential price trends and reversals. When dots are formed below the price, they show an upward trend.
The parabolic SAR forms below BNB press-time prices, indicating a fierce momentum and potential price surges for upcoming trading sessions, further increasing the chances of rallying.