BNB surges past $1,250, fueling massive short liquidations

BNB, the native asset of Binance’s ecosystem, is setting more records after moving above $1,250. The token accelerated short liquidations as it moved fast into previously uncharted price levels. 

BNB is setting a new series of price records, climbing above $1,250. The recent price rally into uncharted territory, caused a new wave of short liquidations. BNB retained its upward momentum even as BTC moved down from its peaks, while other blue-chip assets stalled. 

The BNB ecosystem has expanded in 2025, as Binance once again became a key trading hub, while DEX activity using BNB also expanded. The token is often held or staked for additional benefits or access to airdrops. 

The recent rally expanded BNB trading volumes to over $4.74B, close to the higher range for the past year. BNB peaked at $1,261.53, afterward moving to just under $1,250. The token is still expected to continue to a higher price range, extending the altcoin season through the Binance ecosystem. 

BNB is potentially seen as an ‘up only’ token, similar to Hyperliquid’s HYPE. The community has suggested buybacks from Binance’s fees and earnings. BNB also gets a boost from regular token burns. The recent rally turned BNB into one of the most successful ICOs from the 2017 season in terms of total returns.

BNB rally accelerated short liquidations

The BNB rally, happening during early European hours and late Asian trading, makes it one of the few assets to undergo short liquidations.

BNB liquidated $8.26M in short positions, moving into available liquidity for the second day in a row. The recent rally does not stop as the liquidity is depleted, instead moving into previously uncharted levels. 

Based on the liquidation heatmap, new positions have been opened all the way to $1,300. If the current trend of liquidations continues, BNB may break out to a higher price range with relative ease. 

For now, BNB has not repeated the usual pattern of crypto assets, dipping to also liquidate long positions. In the case of a dip, the biggest accumulated liquidity is around the $1,185 price level. On Hyperliquid, BNB is one of the most bullish assets, with over 71% of whales taking long positions. 

BNB open interest is now at a peak $1.8B, with around 63% in long positions. The current rally has increased the attempts to short BNB, leading to liquidations. The renewed short positioning may actually serve to increase the conditions for another short squeeze. 

BNB ecosystem tokens also expand

The BNB rally coincided with the expansion of Giggle Fund (GIGGLE). The token saw increased buying from whales, which previously boosted Aster. 

GIGGLE is now at $99.27, up around 8% in the past week, after briefly spiking to $117.96. GIGGLE is one of the tokens to feel the effect of tweets by Changpeng ‘CZ’ Zhao, who remains active on social media. 

Zhao’s mentions also boosted meme tokens like Four (4) and PUP. The latest mention was PALU, which also went for a vertical rally after Zhao’s post. The token saw some whale purchases right before the rally. 

For now, the ASTER token rally has stalled, while previously the token also benefitted from the Binance community. ASTER is trading at around $1.97 after a recent recovery. 

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