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Binance Coin (BNB) has gained strong momentum in recent days, recording a price increase of over 25% in the past week.
The rise comes as Binance Smart Chain (BSC) dominates decentralized exchange (DEX) trading volumes, total value locked (TVL) climbs, and speculations continue.
Many investors are now watching closely to see if BNB will reach the $700 level soon.
BNB Strengthens as Binance Smart Chain Leads in Trading Volume
According to Master of Crypto, BSC has become the top-ranked blockchain for 24-hour DEX trading volume.
The surge in trading activity indicates increased adoption of Binance’s ecosystem, as more users choose BSC for transactions.
PancakeSwap, the leading DEX in Binance Smart Chain, has also become the highest earning DEX in the market.
The overall revenues of the platform have improved due to the rising number of transactions and rising trading activities in the BSC network.
The total value locked on Binance Smart Chain rose by 7% this week, indicating an inflow of funds into its DeFi space.
More users are transferring their assets into BSC because the market trusts Binance’s blockchain even more now.
Another reason for the increase is the recent launch of no-fee Web3 trading by Binance Wallet.
This has promoted more traders and investors to engage in the activities within the blockchain network that offers fee-less transactions.
Crypto Raven, a crypto analyst, noted that BNB has been outperforming Bitcoin and other major altcoins.
The token has gained over 25% in just seven days, and market analysts believe it could continue its upward trend.
The $700 mark has now become a key resistance level that traders are watching.
Rumors of Deal with Trump Drive Market Excitement
It has also been speculated that the latest rally by BNB has been elicited by the anticipated deal between Binance US and the Trump family.
There were rumors that the Trump family was considering the possibility of acquiring a stake in Binance US.
Although there was no official announcement, these rumors did increase investors’ interest and led to the rise of the token’s price.
The speculation led to higher volumes in the entire Binance environment. CAKE from PancakeSwap had risen by 40% in one day and has more than 60% in a week.
As demand for BNB and other tokens rose, Binance Smart Chain’s DEX performed $1.64 billion in trades in a day more than Ethereum and Solana, which registered $1.07 billion and $1.01 billion in DEX volume, respectively.
Changpeng Zhao, the co-founder of Binance, refuted any interactions he had with Binance US and the Trump family, especially when releasing Binance.US.
However, the reactions in the market concerning the specific altcoins prove that speculation can affect the price of a cryptocurrency.
Although some analysts think that the hype around BNB has been overstated, there is evidence that the growing activity on BSC will impact the token price.
Charity Supports Flood Victims in Argentina
Beyond price movements, Binance has made headlines for its latest charitable initiative.
Binance Charity has announced a relief effort to assist flood victims in Bahia Blanca, Argentina.
Users affected by the disaster shall be given up to $100 in BNB tokens as vouchers by the organization.
The verified users who submitted proof of address before 18th March 2025 should get up to $100 BNB while the ones submitting between 18th March 2025 and 1st April 2025 should be eligible for receiving $25 BNB.
Binance Charity examined the effectiveness of decentralised donations using cryptocurrencies and noted that many traditional financial services are disrupted in disaster situations.
As such, through the employment of blockchain, the Company guarantees timely and critical delivery of the financial support to the target needy individuals or groups.
BNB Price Outlook: Can it Reach $700?
BNB currently stands at $620.82, and its trading volume has been above $2 billion in 24 hours.
The token gained by 1.96% within the past 24 hours and continues to show considerable strength within the week.
Analysts are speculating about whether BNB can further extend its price rise towards $700.
The growing TVL on BSC, the increasing numbers of DEX transactions, and sustained investors’ attention can also contribute to further growth.
