BNB Hits Record High Above $1,280 as Blockchain Activity Surges

Core Insights - BNB, the native token of the BNB Chain, has surged over 5% in the last 24 hours, reaching a new all-time high above $1,280, driven by increased institutional demand and activity on the blockchain [1][2] Group 1: Market Performance - BNB Chain has reported a record 58 million monthly active addresses, surpassing Solana's 38.3 million, indicating a significant rise in usage linked to the newly launched decentralized exchange Aster [2] - The total value locked in Aster has increased over 500% to $2.4 billion, reflecting strong growth in decentralized finance (DeFi) activity [2] - During the peak of the rally, trading volumes exceeded the 24-hour average, suggesting robust market strength behind the price movement [3] Group 2: Broader Market Context - The cryptocurrency market is experiencing overall optimism, with BNB outperforming the CoinDesk 20 index, which has only risen 0.3% in the last 24 hours [3] - The market rally coincides with a U.S. government shutdown, leading traders to anticipate a 25 basis point rate cut by the Federal Reserve, which could further benefit risk assets [4]