Binance Coin (BNB) is showing renewed bullish momentum after forming a golden cross, a strong technical indicator suggesting more gains ahead. This trend comes as activity on the BNB Smart Chain (BSC) explodes, pushing its decentralized exchange (DEX) volume past key rivals like Ethereum and Solana.
BNB Price Sees Steady Climb
On Sunday, BNB traded at $660, up 13% from its monthly low. While still below its recent high of $692, the uptrend appears strong. This growth is largely tied to rising adoption within the BSC ecosystem.
BSC DEX Volume Surpasses Ethereum and Solana
In the past 30 days, BSC’s DEX protocols processed over $100 billion in volume. By comparison, Ethereum and Solana saw $67 billion and $97 billion, respectively. This spike highlights the increasing traction of the BSC network.
Most of this volume came in the last week alone, when DEX activity surged by 133%, hitting $55 billion. Notably, PancakeSwap led the charge with $50 billion in weekly volume and $92 billion in monthly trades. It now boasts a cumulative volume of $1.62 billion.
Other major contributors include Uniswap, THENA, Dodo, and SquadSwap, which have all seen rising usage on BSC.
BSC Upgrades Fuel Adoption
Two recent BSC upgrades, Pascal and Lorentz, helped drive this momentum. Pascal deepened integration with the Ethereum network, while Lorentz reduced block time from 3 seconds to just 1.5 seconds.
Looking ahead, the upcoming Maxwell upgrade—scheduled for June—aims to boost BSC’s speed even further. Once live, it could give Binance Chain a performance edge over both Ethereum and Solana.
Technical Analysis: Bullish Indicators Stack Up
BNB’s price chart tells a promising story. It bottomed at $510 earlier this year and formed a triple-bottom pattern with a neckline at $645. Now, the token has created a golden cross, where the 50-day Weighted Moving Average crosses above the 200-day average—a classic bullish sign.
If BNB can break above the $690 resistance level, it could climb toward the next major target at $795, last seen in early December—20% above current levels.
Adding to the optimism, analysts have also spotted a cup and handle pattern on the weekly chart. This long-term formation supports a continued upward trend for BNB.
