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**Binance Coin (BNB) Price: Bullish Momentum Builds Despite Whale Sell-Offs**
The Binance Coin (BNB) price has been building bullish momentum, despite recent whale sell-offs. As the token reaches $720 after breaking the $700 resistance, it continues to underperform compared to other major cryptocurrencies. The development comes as institutional interest grows and network upgrades enhance performance.
Despite a significant increase in large wallet addresses reaching a near three-month low, BNB’s price has not been deterred. However, it is essential for investors to understand that this trend contrasts with the majority of major cryptocurrencies, where whale accumulation has led to substantial gains.
The recent surge in BNB can be attributed to various factors. First and foremost, the network upgrades have significantly improved transaction throughput and reduced block times to 0.75 seconds. This enhanced performance is expected to attract more decentralized applications (dApps) and real-world asset tokenization initiatives.
Moreover, institutional interest has increased with Windtree Therapeutics planning to raise $200 million for a BNB treasury, marking a potential first step towards institutional Wall Street exposure. A listing on a U.S. stock exchange could further legitimize the digital asset’s status as an institutional-grade investment vehicle.
Despite whale sell-offs and large holders reducing their positions, this momentum presents a lucrative opportunity for investors. The token currently trades at $735.94 with technical indicators showing strong bullish momentum. As BNB sits above critical moving averages, it is crucial to identify support levels ($643.71)
Source: coincentral.com
