BNB, the native token of the BNB Chain ecosystem, has been significantly changed over the past three days, from $345 to $381.
With bullish sentiment on BNB and Binance still strong, some analysts** believe the coin could hit $400 by the end of the month if the momentum continues.
BNB** 10% since Monday, pushing the coin to its highest level since November 2022.
This latest spike builds on the strong upward momentum that BNB has shown throughout February, as positive investor sentiment continues to boost the coin.
Trading volume is also increasing, with a 51% increase in the last 24 hours.
With this surge, BNB has cemented itself as the sixth most traded cryptocurrency in the world and the fourth largest by market capitalization.
With BNB breaking above the key resistance levels of $330 and $350, the technical outlook also looks poised for further**.
BNB appears to have broken the $380 level cleanly – suggesting that it could continue** to the $400 mark.
The token has yet to reach $400 since May 2022, so it would be a significant development for BNB to reach this milestone.
Binance Coin's recent surge can be attributed to some positive developments in the coin and Binance itself.
On top of that, BNB Chain announced yesterday that it has surpassed 1 million active users, indicating the continued growth and adoption of the blockchain.
This level of adoption is all the more impressive given the ongoing legal troubles Binance faces.
In any case, the expanding user base is likely to increase the demand for native BNB tokens.
In addition, Binance continues to enhance the capabilities of BNB Chain with new solutions such as the high-throughput OPBNB Layer-2.
Technological improvements such as these allow BNB Chain to scale to meet user needs, underpinning the value of BNB.
With bullish sentiment still strong, and BNB driven by these positive fundamentals**, many investors and analysts believe that the coin could reach $400 by the end of the month.
For BNB to reach $400, it only needs to be 4% smaller than the token's current level.
Considering that BNB was **8% yesterday alone, $400 seems within reach if this momentum continues.