BNB Long Positions Surge to $493 Million as Price Explodes

Binance Coin (BNB) is seeing a dramatic surge in price, fueled by significant long positions held by high-frequency traders known as SmartMoney. As of October 7th, these traders have amassed an astounding $493 million worth of BNB longs on the Binance platform, contributing to unrealized profits exceeding $96.46 million. This bullish sentiment is driving a price rally that has pushed BNB beyond its previous all-time highs, reaching levels above $1,200 and outpacing broader market movements.