Is Binance (BNB) the Top Cryptocurrency to Purchase Right Now?

Binance stands as a fundamental pillar in the cryptocurrency world. As the trading network maintains its supremacy, BNB, its native coin, will persist in leveraging market sentiment, flourishing in times of volatility irrespective of the larger trading market scenario. Crypto traders are likely to continue stacking leveraged positions even if Bitcoin USD falls beneath $100,000. This undeniable truth sets BNB crypto on a potential trajectory as a price breakout coin in the years ahead. As we approach late September, could the BNB crypto token represent the prime crypto investment at this moment?

Compelling proof underlines Changpeng Zhao and his remarkable innovation, BNB. Just a handful of years ago, it was valued at mere cents. Fast forward, and despite the significant expansion of Binance and the broader crypto landscape, BNB breached the $1,000 mark for the first time in September.

On Coingecko, BNB closely follows the similarly revitalized XRP. However, unlike ETH, Cardano, Solana, Dogecoin, or even leading meme coins on Solana, BNB crypto is seeing positive movement in the past 24 hours and week, up +3% and +5%, respectively. Its stability even surpasses that of USDT.

(Source: Coingecko)

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BNB Price Evaluation: Can $1,000 Endure? Is it Time to Invest?

The current digital currency dump likely arises from investors eager to secure profits following the extended rally over the past eight months.

Despite this rapid retreat, BNB ▼-1.58% remains steadfast, maintained above the crucial psychological threshold of $1,000.

The daily chart of BNB crypto exemplifies this resilience: As the Bitcoin price slipped yesterday, BNB USD not only reversed losses from September 22 but surged higher.

If purchasers expand these advances and BNB USDT remains above $970, which marks the low of this week, there’s a strong possibility it could exceed $1,100, ushering BNB crypto into new all-time records.

Information from Coinglass indicates a minor dip in investor optimism, but the general sentiment skews neutral to optimistic. The long/short ratio is 1.7 across accounts and 1.2 among top traders, according to Binance data. Ratios exceeding 1 signify an increase in buyers compared to sellers in the BNB market.

(Source: Coinglass)

That being said, traders are adopting a prudent approach: Trading volume on Binance has decreased -16% over the last 24 hours, now at $2.2Bn. This trend is observed across other major platforms like OKX, Bybit, and Hyperliquid.

While the reduced volume raises concerns, a positive movement is surfacing. Spot exchange inflows have increased in the past 12 hours, indicating authentic interest from long-term investors rather than mere speculators.

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Is BNB the Top Crypto Investment Today? Aster, DeFi Fueling Demand

The separation from Bitcoin signifies a crucial milestone for BNB crypto and the Binance ecosystem. Most importantly, it highlights Binance’s evolution from a basic exchange to a formidable network hosting notable Decentralized finance protocols.

BNB assumes a vital role beyond the exchange: It operates as the fuel for the BNB Chain, a low-fee and highly scalable blockchain that competes with Solana and ETH. On Binance, holders benefit from trading fee reductions; on the chain, it is utilized for transaction fees, staking, and yields attractive returns.

As of September 24, DeFi protocols within BNB Chain manage over $7.8Bn in total value locked, a significant rise from around $3Bn in late 2023 to exceeding $8Bn on September 21, marking an almost +300% growth.

(Source: DefiLlama)

Throughout the same timeframe, BNB surged from below $250 to over $1,000, achieving a +400% increase.

Mirroring the optimistic trend of 2020–2021, BNB’s advantage today stems not from meme-based coins but rather from Decentralized finance.

At the center of this Decentralized finance boom are perpetual DEXes flourishing on the BNB Chain. Unphased by critics, developers have used the Hyperliquid model to introduce Aster.

Backed by YZi Labs, a company associated with Binance founder Changpeng Zhao, Aster has generated over $584Bn in cumulative perpetual volume.

(Source: Aster)

This remarkable growth is significant for a platform whose token debuted only about a week ago, on September 17.

While Zhao’s base level boosted the DEX’s total value locked, ASTER prices have skyrocketed since, climbing over +1,900% within just a week.

The influence of Aster on BNB crypto has been both swift and substantial.

Crucially, every transaction conducted on Aster increases BNB demand, accelerating coin burns that reinforce its deflationary properties. Should this trend persist, alongside the anticipated rise of perpetual DEXes, BNB could firmly establish itself as the top crypto investment today.

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