Binance Coin (BNB) Poised for Historic Rally as Institutional Interest Surges
Binance Coin (BNB) is currently trading in the $669-$670 range, showing resilience above the critical support level of $660 with a 1.3% daily gain. The token's recent technical breakout above its 200-day moving average indicates strong bullish momentum. Adding to the optimism, Nano Labs' potential $1 billion accumulation of BNB has bolstered institutional confidence in the cryptocurrency. Key resistance levels are identified at $671.50-$672.13, and a decisive breach of these levels could propel BNB toward the $680 mark. This development comes amid growing institutional interest, which could pave the way for a historic rally. The current time is July 11, 2025.
Binance Coin (BNB) Eyes Historic Rally Amid $1 Billion Institutional Interest
Binance Coin (BNB) is consolidating at $669-$670 with a 1.3% daily gain, demonstrating resilience above critical support at $660. The token's technical breakout above its 200-day moving average signals bullish momentum, with Nano Labs' potential $1 billion accumulation adding institutional credibility.
Key resistance levels loom at $671.50-$672.13—a decisive breach could propel BNB toward $680. The upcoming token burn event may further tighten supply-demand dynamics, creating favorable conditions for upward price action.
Bhutan Government Capitalizes on Bitcoin Rally with $23.7M Transfer to Binance
The Royal Government of Bhutan has strategically moved 213.501 BTC, valued at approximately $23.73 million, to Binance as Bitcoin prices hover near record highs. Blockchain analytics platform Arkham Intelligence tracked the transaction, which occurred on July 10 at 04:54:06 UTC.
This marks the second such transfer in as many weeks, following a 137.24 BTC ($14.77 million) movement to the same Binance deposit address. In total, Bhutan has shifted 350.74 BTC worth $38.5 million to the exchange over a 10-day period.
The timing appears deliberate, with bitcoin trading at $111,328 after recently setting a new all-time high of $112,000. The Himalayan kingdom has demonstrated a pattern of executing such transfers during price peaks, including a $63 million Bitcoin move in March 2025.
Bitcoin Hits Record High Amid Institutional Demand, Meme Coins Surge
Bitcoin shattered its all-time high, reaching $112,000 on Binance as ETF inflows surged and exchange reserves dwindled. The rally has ignited a frenzy in related meme coins, with BTC Bull Token (BTCBULL) skyrocketing 190% in 24 hours. Meanwhile, Bitcoin Hyper (HYPER) has attracted $2.2 million in presale funding as traders seek Leveraged exposure to BTC's momentum.
Institutional demand is reshaping Bitcoin's supply dynamics, with analysts projecting a potential climb to $140,000. Fox Business highlighted corporate buying pressure as a key driver, while Anthony Pompliano noted the shrinking circulating supply. The market narrative now centers on second-chance opportunities for those who missed BTC's initial surge.
Europe’s Financial Watchdog Scrutinizes Malta Over Expedited MiCA Authorization
Malta's financial regulator faces scrutiny from the European Securities and Markets Authority (ESMA) for fast-tracking a crypto firm's authorization under the Markets in Crypto Assets (MiCA) regime. The peer review highlights unresolved material issues at the time of approval, raising questions about due diligence.
While the firm remains unnamed, timing coincides with OKX's Malta pre-authorization and subsequent $500 million U.S. settlement. ESMA's report suggests the Malta Financial Services Authority missed opportunities to enforce compliance improvements during the authorization process.
The case underscores growing tensions between national regulators and EU oversight as MiCA implementation progresses. Crypto exchanges operating in Europe face increasing scrutiny as harmonized rules take effect across the trading bloc.
BNB Foundation Completes $1.02 Billion Token Burn in 32nd Quarterly Event
The BNB Foundation executed its 32nd quarterly token burn, removing 1.59 million BNB ($1.02 billion) from circulation via the BNB Smart Chain. The process combined standard burns with Pioneer Burn elements, leveraging an Auto-Burn mechanism to enhance ecosystem stability and long-term value.
BNB's price held steady NEAR $670 during the event, with market capitalization surpassing $93.5 billion. The burn aligns with BNB Chain's roadmap to reduce total supply to 100 million tokens, reinforcing scarcity and investor confidence.
Beyond tokenomics, BNB serves as the backbone for transactions across BSC, opBNB LAYER 2, and Greenfield blockchain. Recent network upgrades like Lorentz and Maxwell necessitated adjustments to the Auto-Burn formula while improving block generation speeds.
YZi Labs and 10X Capital Form BNB Treasury Company for U.S. IPO
YZi Labs, a venture firm with ties to former Binance CEO Changpeng Zhao, has partnered with 10X Capital to establish the BNB Treasury Company. The entity aims to list on a major U.S. stock exchange, offering American investors exposure to BNB—the fourth-largest cryptocurrency by market capitalization. The initiative focuses exclusively on the BNB Chain ecosystem.
David Namdar, a senior partner at 10X Capital and co-founder of Galaxy Digital, will help oversee the venture. While the target exchange and fundraising details remain undisclosed, the MOVE mirrors a growing trend of institutional crypto holdings, exemplified by MicroStrategy's bitcoin accumulation. Nasdaq-listed Nano Labs recently added $50 million in BNB, bringing its total crypto holdings to $160 million.
"BNB serves as both fuel and foundation for the BNB Chain's decentralized ecosystem," said Ella Zhang of YZi Labs. The firm sees broader investor access as a net positive but remains selective about partnerships. This development signals deepening institutional interest in crypto-native assets beyond bitcoin and ether.
