BNB Price Rally Amid Crypto Market Crash Draws Criticism, Here’s Why

Binance Coin (BNB), the native cryptocurrency of the BNB Chain, has outperformed the broader market in latest rally to all-time highs at $1,336. Interestingly, the BNB price has rallied, while the broader cryptocurrency market is facing significant selling pressure. This has drawn major criticism by market experts as they remain divided whether this is a super cycle or a bubble in the making.

Experts Take Jibe Over BNB Price Rally

With the BNB price hitting all-time highs despite the crypto market downturn, market experts have been taking jibes on this development. Commenting on the development, Crypto analyst Ted Pillows sarcastically described the move as “completely organic market behaviour.”

Pillows suggested that Binance may have influenced market activity, adding that “money keeps on flowing into the BNB ecosystem.” He further criticized the network, calling it a “scam chain with scam tokens and fake volume.” Moreover, Pillows also cautioned investors that although short-term profits may be possible, the rally “won’t last long.”

The rally has accelerated activity across the Binance Smart Chain (BSC) ecosystem, which saw over $6 billion in decentralized exchange (DEX) trading volume in the past 24 hours. At the same time, the “BNB Supercycle” narrative gained viral traction after Binance founder Changpeng “CZ” Zhao posted on X, “BSC stands for?” Responding to it, some users referred to it as the “BNB Super Cycle.”

Additionally, seasoned traders like Marty Party are raising red flags amid recent BNB price rally. Prominent commentator Marty Party drew comparisons to the 2022 FTX/FTT collapse, highlighting potential vulnerabilities in the BNB ecosystem.

“Binance’s personal blockchain asset BNB surpasses BlackRock in market capitalization and is unregulated, with no USD-backed stablecoin on it. This is the next FTT, yet nothing from regulators,” he wrote.

He further accused Binance of operating “beyond jurisdictional reach” while allegedly manipulating other assets on its network.

Founder Changpeng Zhao Sparks Meme Coin Frenzy on BNB Chain

Binance CEO Changpeng “CZ” Zhao hinted at the start of a meme coin season within the BNB ecosystem. His comments come as tokens, including GIGGLE and “4”, surged to new highs

CZ’s viral post praised the momentum of BNB-based meme coins, triggering heightened attention across decentralized exchanges. Following the announcement, trading volumes and token prices spiked across multiple projects.

Among the top performers, GIGGLE surged 33.5% in 24 hours to reach a new all-time high of $140, extending a remarkable 717% gain over the past week.

Some Experts Continue to Be Bullish on BNB Price Rally

Crypto analyst Lark Davis highlighted the ongoing momentum in Binance Coin (BNB),. He noted that the asset broke its multi-year trendline back in July and has continued its upward trajectory since.

BNB price has surged over 600% from the bear market low and is now firmly in price discovery mode. Davis pointed to key Fibonacci extension targets at $1,486 (2.618) and $1,983 (3.618), raising speculation about whether BNB could reach $2,000 before the end of the year

Amid this spectacular 50% upside over the past month, Binance Coin (BNB) has overtaken both XRP and USDT to claim the position of the third-largest cryptocurrency by market capitalization.