Binance Coin (BNB) staged a strong recovery on Monday, October 13, rebounding 16% in the last 24 hours to a new all-time high of $1,370 just after a massive market crash. At the time of writing, BNB was trading around $1,310, as per CoinMarketCap data.
The boom follows one of the most severe flash crashes in the history of the crypto market, which wiped out more than $19 billion of the overall market value in a single day.
However, BNB was incredibly resilient even during the massive decline, performing better than the majority of leading altcoins. While dipping to a low of $1,024, BNB rapidly recovered to its daily range, reflecting renewed confidence among traders and investors.
Trading activity and market confidence
According to Coinglass, spot trading volume increased 50% to $8.94 billion, and futures volume increased 112% to $12.19 billion in the last 24 hours at BNB. The open interest was also raised by almost 30% to $2.48 billion.
This combination of rising volume and open interest indicates that traders are returning to positions rather than just closing short-term bets, signaling a bullish sentiment in the market.
Following rumors that Binance might have stepped in to stabilize the prices, the CEO Changpeng Zhao said that he was not involved in the recent BNB trades, nor any other entity. He attributed the power of BNB to its community, builders, and deflationary tokenomics as opposed to artificial market support.
Technical outlook
BNB shows a good V-shaped recovery on the charts, and it is trading above the mid-Bollinger Band support of $1,286. BNB could test resistance near $1,340, with a potential upside toward $1,450–$1,500 if momentum continues. Key support lies between $1,260 and $1,280.
Traders should remain cautious, as crypto markets can swing rapidly despite recent gains. BNB may face volatility, and losses are possible if momentum fades.
Also Read: Bitcoin and Ethereum Price Surge After Historic Single-Day Crash
