The crypto market has slowed down after Bitcoin’s record-breaking run in August, but one token refuses to slow down. Binance Coin (BNB) is showing unexpected strength, moving on its own path. According to on-chain analytics firm CryptoQuant, BNB could rally toward $1,000 soon, supported by strong liquidity and its unique token mechanics.
Binance (BNB) Outperforming Bitcoin
Over the past 30 days, Bitcoin climbed to $124,000 but has since dropped to around $112,000. September has historically been a weak month for crypto, and this year is no different.
But while Bitcoin slipped about 6%, BNB went the other way, rising nearly 10% over the same period.
Meanwhile, on-chain data highlights this growing independence as CryptoQuant reports a negative correlation between Bitcoin and BNB, with a coefficient of -0.27. In simple terms, when Bitcoin went down, BNB managed to move higher, showing its ability to stand apart from the broader market.
Why a $1,000 Target Looks Possible
CryptoQuant’s prediction for BNB comes down to three key factors behind BNB’s bullish setup: sidelined liquidity, seasonal market patterns, and its deflationary supply. Binance’s stablecoin reserves have grown sharply, jumping from $32 billion in August to $38 billion today, a 19% increase.
This fresh capital acts as “dry powder” that could drive the next big move for altcoins, with BNB leading the way.
Historically, Q4 has been a strong period for crypto markets. If Bitcoin regains momentum, BNB could amplify the rally and push closer to the $1,000 mark.
Some analysts even suggest a run toward $1,500 if market conditions align perfectly.
Auto-Burn Advantage
Another factor fueling optimism is BNB’s auto-burn mechanism, which reduces its supply every quarter. This built-in deflationary model, similar to Ethereum’s burn mechanism after EIP-1559, creates scarcity and supports long-term price growth.
However, unlike many other altcoins, BNB benefits from this consistent supply reduction.
As of now BNB price is trading around $901, reflecting a jump of 2% seen in the last 24 hours
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