Binance Coin (BNB) is experiencing a notable price increase, currently trading at $590.05 after a 1.21% gain in the last 24 hours. This rise places BNB as the fourth largest altcoin by market cap and puts it on track to reach the crucial $600 threshold. Experts believe this is driven by increasing interest in its practical applications within the Binance ecosystem and the burgeoning utility of the BNB Chain. 4.49% growth in trading volume to over $1.44 billion, suggests strong participation from retail and institutional investors alike. Technical analysis supports this trend with the RSI shifting from around 30 at the start of the month to 48, indicating a positive momentum.