Binance Coin (BNB) Price and Market Update
Binance Coin (BNB) trades just below $1,300 on Wednesday. This shows steady interest in the token from Binance’s centralized exchange. Most cryptocurrencies remain stable after sharp drops the day before. Bitcoin (BTC) also pulled back from its all-time high near $126,199.
Binance’s YZi Labs Launches $1 Billion Builder Fund
Binance’s venture capital arm, YZi Labs, announced a $1 billion builder fund on Wednesday. The fund aims to support project founders in the BNB ecosystem. It will focus on innovations in trading, real-world assets (RWAs), artificial intelligence (AI), decentralized finance (DeFi), payments, and wallets on the BNB Chain.
YZi Labs said, “We are committed to using the BNB Ecosystem as the backbone for Web3, AI, and biotech to improve life and access.”
The fund launch comes as the BNB Chain sees strong growth. It records 26 million daily transactions and leads in decentralized exchange (DEX) trading volume and daily active users.
BNB’s price hit a record $1,350 on Tuesday, reflecting this on-chain activity. BNB has also overtaken Ripple (XRP) to become the third-largest digital asset by market cap, now valued at $183 billion, according to CoinGecko.
Jamie Elkaleh, CMO at Bitget Wallet, said, “BNB’s rise shows the crypto market’s shift to ecosystem-driven growth, but also warns of possible overheating.”
BNB Technical Outlook: Bulls Eye Higher Support
BNB trades below $1,300 after correcting from its record high. The Relative Strength Index (RSI) is 76, indicating the market may be slightly overheated. This could lead to a further pullback. Traders should watch if the RSI drops below 70, signaling a more bullish trend.
Key price levels to watch are $1,237, tested as resistance on Monday, and $1,137, tested as support on Sunday.
The Moving Average Convergence Divergence (MACD) indicator has shown a buy signal since October 2. This supports a short-term bullish outlook. If risk appetite grows, BNB could recover above $1,300 and possibly rise past $1,350.
