Binance Coin (BNB) is quietly surpassing Ethereum (ETH) in terms of both price and structural momentum this year, establishing what some analysts are calling a ‘BNB Season.’ While Ethereum’s upward drive has waned post-deleveraging, BNB remains robust.

Underlying Fundamentals and Liquidity

On-chain analysis from Altcoin Vector reveals this trend: an initial drop in active addresses on the BNB network during the deleveraging phase, from over 1.6 million to about 800,000, was soon followed by a significant rebound as user engagement remained strong. BNB’s on-chain transfer volume continues to reflect healthy liquidity, large transactions, and vibrant ecosystem activity.

Despite the end of the ‘BNB Meme Season,’ speculative interest persists, as meme tokens like PALU and 币安人生 have delivered substantial returns, creating new millionaires even as some market players faced losses from catch-up trades.

Altcoin Vector underscores that BNB’s strength is driven by fundamentals such as liquidity and active participation, indicating potential for prolonged growth. When narrative and fundamental factors align, assets generally enter an upward phase; otherwise, they may consolidate.

BNB’s underlying structure has withstood broader market challenges and is positioned for future growth phases.

“BNB structure survived collapse. A potential new impulse phase is brewing. Not a speculative play, but a consistent tactical approach.”

Market Indicators Indicate Stability

Technical analysis from CryptoQuant shows BNB maintaining its position above its 45-day moving average, currently trading at around $1,138, which aligns with its average, while the 90-day average is at approximately $941. With small daily gains of about 2.7%, BNB demonstrates stabilization above crucial mid-term levels. Long-term averages are also trending up, signaling ongoing momentum since the start of the third quarter.

Historical trends suggest that every retest of the 45-day moving average has led to upward movements for BNB, with shorter averages sometimes recovering first, followed by price increases and trading volume surges. The current price structure resembles previous accumulation phases where traders build positions before significant breakouts occur.

The convergence of short-term averages signifies a phase of reduced volatility, often a precursor to major price shifts. Positive volume trends during recovery periods suggest that buyers are defending vital support zones.

Tags: BNB Price | Meme Coins