BNB Price Forecast: Bulls eye $1,000 as rising TVL and stablecoin supply boost outlook
- BNB price rebounds on Tuesday after a brief pullback earlier in the week.
- On-chain data paints a bullish picture, with rising TVL and stablecoin supply both nearing record highs.
- The technical outlook suggests a rally, with bulls targeting the $1,000 mark.
BNB (BNB), formerly known as Binance Coin, is back in recovery mode, trading above $930 at the time of writing on Tuesday after a minor dip earlier this week. On-chain data fuel bullish sentiment, with BNB’s Total Value Locked (TVL) and stablecoin supply nearing record highs. Meanwhile, the technical indicators point to a potential rally toward the $1,000 mark.
On-chain metrics show a bullish bias
Arthemis Terminal data shows that BNB’s TVL increased to $7.74 billion on Sunday from $7.3 billion on September 2, nearing its record high levels of $7.8 billion. Rising TVL indicates growing activity and interest within BNB’s ecosystem, suggesting that more users are depositing or utilizing assets within BNB-based protocols.
-1758007397257-1758007397270.jpeg)
BNB TVL chart. Source: Artemis
Apart from rising TVL, Artemis terminal data show that BNB’s stablecoin total supply has risen since mid-July and currently stands at $11.2 billion. Such stablecoin activity and value increase on the BNB project indicate a bullish outlook, as they boost network usage and can attract more users to the ecosystem.
BNB stablecoin total supply chart. Source: Artemis
On the derivatives front, BNB’s futures’ Open Interest (OI) at exchanges stands at $1.66 billion on Tuesday, nearing its record highs. Rising OI represents new or additional money entering the market and new buying, which could fuel the current BNB price rally.
BNB open interest chart. Source: Coinglass
BNB Price Forecast: Will BNB hit $1,000 mark?
BNB price reached a new all-time high of $944.95 on Sunday, but failed to maintain the gains and declined slightly to start the week. At the time of writing on Tuesday, BNB recovers slightly, trading above $929.
If BNB continues its recovery and closes above its record high of $944.45, it could extend its gains toward its psychological level of $1,000.
The Relative Strength Index (RSI) on the daily chart reads 66, pointing upward and well below overbought conditions, indicating bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) showed a bullish crossover last week, which remains in effect, supporting the bullish thesis.
BNB/USDT daily chart
However, if BNB faces a correction, it could extend the decline toward its key psychological support at $900.
Related Articles
September Fed Watch: A Policy Pivot That Could Make or Break the Bull Stock Market
TradingKey - The Fed’s September FOMC meeting is widely seen as locking in the first rate cut of 2025. Yet strategists at Morgan Stanley, JPMorgan, and Oppenheimer warn that as investors shift focus to slowing growth, a more cautious tone may replace bullish stock sentiment.
Meta Connect 2025: An Inflection Point for AR Wearables?
TradingKey - Meta Connect 2025 kicks off this Wednesday, and expectations couldn’t be higher.
Effects of Interest Rate Cuts: Impact of Fed's September Meeting on Crypto Market
The Fed’s rate cut decision is a major bullish catalyst for crypto — but it comes with uncertainty. Investors should understand the economic rationale behind the move and adjust strategies accordingly. Staying flexible, informed, and disciplined is key to thriving in crypto’s fast-moving environment
September Global Central Bank Divergence: How Will U.S. Stocks and Forex Markets Move?
TradingKey - Despite the divergence in monetary policies among major global central banks in September (with the Federal Reserve cutting rates while the European Central Bank, Bank of England, and Bank of Japan maintain steady rates), we expect the policy directions of the Fed, ECB, and BoE to...
