BNB Soars to New ATH as Windtree’s $520M Mega-Deal Fuels Binance Coin Rally

Binance Coin just ripped past all-time highs—again. Here's why traders are piling in.

Windtree's half-billion-dollar acquisition play sends shockwaves through crypto markets.

When traditional finance scrambles to catch up, you know the bulls are running. Just don't ask how they'll explain this volatility to their compliance departments.

Windtree plans to set up a BNB corporate treasury

 Windtree Therapeutics, a NASDAQ-listed company, announced $520 million commitment to acquire BNB tokens on Thursday. The announcement fueled a renewed bullish run in the CEX token over the last four days, resulting in a new all-time high of $855 on Monday. 

Windtree plans to create an equity credit line of up to $500 million to purchase BNB alongside an additional $20 million stock purchase agreement with Build and Build Corp. However, the equity credit line still requires approval from stockholders. 

BNB targets $907 amid record-high open interest

Binance Coin edges lower from the $855 level at press time on Monday while battling to avoid losing the Sunday gains. BNB remains in a price-discovery mode with the Relative Strength Index (RSI) at 85 on the daily chart signaling an overbought condition. The RSI trends sideways, indicating persistent buying pressure; however, investors must exercise caution as overbought conditions often forecast a quick correction. 

Investors are likely to flock towards BNB as it gains trend momentum, indicated by the rising Moving Average Convergence Divergence (MACD) and its signal line. A rising trend of the green histogram bars from the zero line reflects the bullish nature of the increasing trend momentum. 

A continuation of the uptrend in BNB could target the $907 level, aligning with the R3 pivot level and projecting double-digit gains ahead.

BNB/USDT daily price chart.

The BNB Open Interest (OI) hits an all-time high of $1.58 billion, up from $1.20 billion on Sunday. The $380 million capital inflow in BNB derivatives reflects increased interest from traders.

BNB Open Interest. Source: Coinglass

On the flip side, a reversal in BNB could retest the R2 pivot level at $802.