BNB season returns with CZ push, new memes, and heavy trading

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BNB season continues, as the asset broke above a new all-time peak above $1,194. Binance boosted its influence after a month of active promotion from Changpeng ‘CZ’ Zhao. BNB reached another all-time peak at $1,219.04 on Monday, after a series of records over the weekend. The token rallied following a new all-time high for BTC, as Binance is once again the main hub for crypto activity. The token also proved its rally did not run out of steam, instead continuing above the $1,200 range. BNB is also the only blue-chip beyond BTC to reach new all-time highs in the past week. BNB reached a series of all-time highs above $1,200, extending the weekend’s rally. BNB rises on a mix of publicity and demand for on-chain activity and meme trading. | Source: CoinGecko. BNB open interest also reached a three-year peak at over $1.7B, following the general trend of derivative trading that is boosting older altcoins. Monday’s rally followed a short squeeze to liquidate short positions, with the potential to extend price action as high as $1,260. On the downside, BNB could liquidate long positions down to $1,140.  For the past 24 hours, BNB saw limited liquidations, but enough to push the price to new all-time peaks. During the breakout above $1,200, however, BNB caused $2.57M in short liquidations. BNB was the leader in terms of short liquidations, along with all other assets that broke out in the new week. The BNB rally broke out while other blue-chip tokens remained stagnant, including ETH and SOL.  BNB rises to records following the ‘CZ’ effect The expansion of BNB benefitted from the influence of Changpeng ‘CZ’ Zhao, who has been more active on social media. Zhao accelerated outreach to multiple crypto markets, boosting the adoption of BNB treasuries, as Cryptopolitan reported. Over the…