Why is BNB Price Rallying So Much Today — And Will Its Bullish Momentum Continue Further?

BNB (BNB), the native token of the Binance Smart Chain network, has outperformed the broader crypto market in the last 24 hours, rising by nearly 15% to reach around $725.50 on Feb. 13.

Among the top catalysts driving BNB prices higher today include rumors about Binance selling its Bitcoin (BTC) and Ethereum (ETHETH) holdings to buy BNB and the launch of an Initial DEX Offering project on the BSC network.

Binance Treasury Activities Boost BNB Prices

The crypto market is buzzing with reports concerning Binance’s recent treasury activities, particularly concerning asset allocation.

Notably, there have been rumors and denials about selling off other cryptocurrencies like BTC and ETH to bolster BNB holdings. Despite concerns around such practices, BNB is rising, reflecting how the market interprets any move towards positively increasing BNB’s treasury value.

Fair bit of controversy around analysis that Binance sold billions of dollars of BTC and hundreds of millions of ETH while adding hundreds of millions of BNB — all on their treasury.

Their X account denies it, saying they’ve simply shifted where the coins live from an… pic.twitter.com/WCLGYFWwQ0

— Stats (@punk9059) February 13, 2025

The perception that Binance favors BNB may increase trust and investment in the token, contributing to its price rise. However, it’s crucial to note that official statements from Binance on X have clarified these actions as strategic asset management rather than sales.

Launch of MyShell IDO

One of the primary drivers behind today’s BNB price surge is the launch of the MyShell IDO on the Binance Wallet.

IDOs, or Initial DEX Offerings, have become popular for new projects to gain traction by offering tokens directly on decentralized exchanges. The MyShell IDO specifically required participants to hold BNB, increasing its demand directly.

2) Binance wants MyShell to “Bring the hype back to BNB.” After MyShell’s IDO announcement, BNB soar by 3%. It will go further.

3) That’s why Launchpool scenario + Binance listing is still more valid than ever. pic.twitter.com/53HVRaNkqE

— IKA (Myshell KOR CM) (@IKA_creator) February 13, 2025

This event attracted participants and brought attention to the BNB Chain’s capability to host significant launches, pushing BNB’s price up to around $720, reflecting the market’s positive reaction to new developments within the BNB ecosystem.

In addition to the MyShell IDO, BNB Chain has outlined an ambitious roadmap for 2025. It aims to achieve sub-second block times and process 100 million transactions daily. The integration of artificial intelligence and the development of smart wallets are also key focus areas.

Positive Movements in the BNB Ecosystem

The broader BNB Chain ecosystem has grown significantly, with tokens like $CAKE, $BAKE, $TST, $CAT, and $THE witnessing substantial price increases. This collective uptick indicates robust health within the ecosystem, where projects built on the BNB Chain are gaining traction.

PancakeSwap, one of the largest decentralized exchanges on the BNB Chain, has led in 24-hour trading volume, further signaling a strong market sentiment dubbed by some as the return of “BNB season.”

This ecosystem growth directly correlates with BNB’s value, as a thriving environment increases the utility and demand for BNB.

CZ Influences BNB Price Boom

Changpeng Zhao, or CZ, the founder of Binance, holds significant sway over market sentiment towards BNB.

Recent posts on X highlighted his focus on promoting the BNB Chain, showcasing interest in memecoins, and forecasting growth for tokens like CAKE. His statements often act as catalysts for market movements, as followers and investors interpret them as endorsements of BNB’s potential.

The leadership backing adds another layer of confidence among investors, contributing to BNB’s bullish trend. However, not everybody feels the same way.

“CZ is shilling some BSC garbage again, running the same playbook he’s been using for the last two months—pumping BNB into spot asks,” noted analyst Adam, adding:

“Every new project these days is either a memecoin rug or a VC bukkake that nukes -90% within hours of launch.” I was never really a Bitcoin maxi, but the longer I trade crypto, the more I appreciate that Satoshi just dipped instead of sticking around to ruin everything—something humans have a remarkable talent for.”

BNB Breaks Out from BARR Bottom—Can It Reach $970?

BNB has confirmed a Bump-and-Run Reversal (BARR) Bottom breakout, signaling a potential bullish continuation. The move comes after weeks of consolidation beneath a descending trendline, with BNB successfully surging above key resistance near $705.

The BARR Bottom pattern consists of three phases—Lead-in, Bump, and Run—with the latest breakout confirming the transition into the final stage.

BNB initially formed a steady downtrend, followed by a sharp decline in early February, which tested support near the 200-day EMA (~$624). However, buyers stepped in aggressively, driving prices back toward the descending trendline.

Now that BNB has cleared the trendline, technical projections suggest a potential upside toward $970, a target derived from the pattern’s measured move. Before reaching this level, the cryptocurrency may face minor resistance around $780-$800, an area previously acting as a local top in December.

Momentum indicators further reinforce the bullish outlook. The Relative Strength Index (RSI) has climbed to 63.5, reflecting increasing buying pressure but still leaving room for further upside before entering overbought territory.

Additionally, BNB has reclaimed the 50-day EMA ($660.7) and the 200-day EMA ($624.3), confirming trend reversal.