BNB rose over 6.6% in the last 24-hour window as a wave of corporate treasury purchases and a recently announced trade deal between the U.S. and the European Union (EU) drove trading activity upward.
The trade deal has seen equities in Europe climb in today’s trading session and boosted Wall Street futures as well. It averted a trade war, and imposes a 15% import tariff on most EU goods while seeing commitments from the bloc to invest in the U.S.
The deal comes after President Donald Trump announced trade deals with several other countries, including Japan and Indonesia.
Major firms, including pharmaceutical company Windtree Therapeutics and tech firm Nano Labs, allocated a combined $610 million toward their BNB treasuries, boosting demand.
While WindTree has committed $520 million toward BNB, Nano Labs recently moved in with a $90 million investment. Other companies, including Build and Build Corp, are also accumulating BNB.
The cryptocurrency’s price rose from $796.95 to now flirt with $850, with trading peaking at $860.86 during heightened activity earlier in the trading session.
The trading volume ballooned by nearly 170% as prices rose. More than 271,000 BNB tokens changed hands during a single hour, well above the 24-hour average. These large volume spikes suggest strategic positioning rather than retail speculation.
Though BNB pulled back slightly since, technical resistance remains near $860, where some profit-taking occurred.
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