BNB Price Breaks Out, Targets $631 as RWA Growth Surges

The Binance Coin (BNB) price has broken out of an inverse head-and-shoulders pattern, indicating a bullish trend. According to analyst Umair Orakzai, this technical formation often precedes trend reversals.

With the breakout above the neckline, analysts expect further gains for BNB, potentially reaching $631 if support holds.

The growth in Real World Assets (RWAs) trading on Binance Smart Chain also supports the bullish outlook. In Q2, RWA trading reached $2.3 billion, with tokenized equities and DEX volumes experiencing significant increases.