BNB Gains 1.5% as Corporate Accumulation Eyes Larger Share of Supply

BNB rose nearly 1.5% in the last 24-hour period to test the $860 mark and is at near multisession highs after breaking key resistance zones in the upward move.

The move came on unusually strong buying pressure in the most recent hour of trading, according to CoinDesk Research's technical analysis model. Volume surged to 49,560 tokens, about 70% above the 24-hour average of 27,459.

The price broke through layered resistance at $851–$853 before a push above $854 kicked off the final leg to current levels. In a shorter 60-minute window, BNB added 0.5% as it rose from $854.75 to $859.

The gains in BNB came as broader crypto markets flashed green and after CEA Industries announced it expanded its total BNB stash to 388,888 tokens worth $330 million while targeting 1% of the supply by the end of the year. The broader crypto market, as measured by the CoinDesk 20 (CD20) index, rose 2.7% in the last 24 hours.

The rally comes as traditional markets saw a long-bond sell-off over rising concerns of swelling government debt. Safe havens including gold have benefited from the trend, bringing the tokenized gold market past $2.5 billion.

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