BNB Holds Strong at $640 – With Record User Activity, Is $674 the Next Target?

BNB isn''t backing down. The crypto just locked in a fierce defense at $640—while smashing all-time highs in active users. Now, traders are eyeing $674 as the next battleground.

Market momentum builds as network activity explodes

When user counts hit ATHs, price rallies usually follow. BNB''s ecosystem is buzzing—exchanges, DeFi, you name it—and that typically fuels upward pressure. But will institutional traders finally wake up and smell the opportunity, or are they too busy overcomplicating their ''hedge strategies''?

The $674 question

Technical indicators suggest the $640 support could springboard toward $674 if buying volume holds. Of course, in crypto-land, ''if'' is doing some heavy lifting here. One thing''s certain: retail isn''t waiting around for Wall Street''s permission.

This isn’t bots—it’s a breakout in real demand

According to AMBCrypto’s analysis, new on-chain data suggests the rebound wasn’t random. BNB’s Non-Sybil Users hit an all-time high of 1.7 million, per Artemis.

These are verified real users, excluding airdrop hunters and bots, making the surge far more meaningful.

Source: Artemis

As such, more real people are actively using BNB chain and not bots or aidrop hunters. Thus, there’s growing interest, demand, and utility for BNB as the network becomes stronger. 

Source: Artemis

Amid this growing number of actual users, BNB Active Addresses have also surged significantly, hitting a monthly high of 2 million. Among these active addresses are new wallets, which have also spiked to hit a month high of 595.7k. 

Such a significant surge in active addresses and new entrants reflects growing demand for the chain. Historically, a higher number of users pushes demand higher, which precedes increased prices. 

Futures say “bullish”—And the whales agree

Amid a growing user base, bullish sentiments are also expanding across all market participants.

Currently, it seems that users entering the market are mostly bullish and are also large entities. 

Source: CryptoQuant

BNB’s Futures Taker CVD (Cumulative Volume Delta) remains buyer-dominant over the past 90 days. That means taker orders in futures are mostly long-biased, confirming market conviction.

What’s more interesting: Futures Average Order Size shows large whale trades have returned. Green dots dominate recent charts, confirming that big players are stepping back in.

These participants are highly bullish as they are entering into the futures to take long positions, as longs account for 73% of the total contracts.

This implies that bullish sentiments are also dominant and investors anticipate prices to rise further. 

Source: CryptoQuant

With the adoption rate soaring while investors are bullish, these conditions set BNB in a favorable position for further gains.

When the number of users surged to such levels on the 6th of May, BNB broke out of consolidation and surged to $692.

Therefore, if the conditions witnessed persist, the altcoin will complete the trend reversal and eye $674.

However, if the number of users entering fails to boost BNB higher, the altcoin will retrace and retest the $639 support level.