BNB Price Targets $803 After Pasteur Hard Fork

Binance Coin (BNB) extended its gains on August 27, rising 2.59% to around $713 as traders reacted positively to the BNB Chain’s latest network upgrade. The rally comes two days after the Pasteur hard fork went live, while BNB derivatives activity has also climbed to its highest level in nearly three months.

BNB Chain activated the Pasteur hard fork on August 25, introducing BEP-682, BEP-695 and BEP-675. The upgrades are designed to strengthen cross-chain and governance security while increasing the number of transactions that can be processed within each block.

BEP-682 addresses cross-chain vulnerabilities by preventing a validator’s vote from being duplicated to falsely create a supermajority. BEP-695 removes governance rights from outdated keys, reducing the risk of malicious reuse. BEP-675, meanwhile, improves network capacity.

Following the upgrade, BNB Chain’s processing speed reportedly jumped 88%, from 1,237 transactions per second to 2,324 TPS. BNB has risen from roughly $688 on August 25 to $713, supported by stronger sentiment around the upgrade and Bitcoin’s advance toward $80,000.

Derivatives data also points to growing trader interest. CoinGlass data shows BNB open interest reaching $1.14 billion, its highest level since June 2. The increase follows BNB’s broader recovery from approximately $600 on August 18.

Funding rates remain positive, indicating a bullish bias among derivatives traders. Binance and OKX also recorded long-to-short account ratios of 2.40 and 2.27, respectively, showing that long positions currently outnumber shorts.

Technical indicators suggest BNB could extend its rally. A bull pennant has formed on the chart, with the token testing the pattern’s upper resistance. A confirmed breakout could put the August 22 high of $726 in focus. Sustained strength above that level may open the way toward the 161.8% Fibonacci target near $803.

The Relative Strength Index stands at 59, while rising on-balance volume suggests strengthening buying pressure. However, a broader crypto market reversal could invalidate the bullish setup and push BNB toward support around the 61.8% Fibonacci level at $678.