A whale has deposited over $8.5 million on Binance Coin using a lending mechanism on Venus Protocol. This whale purchased 8,474 BNB worth approximately $5.90 million, then deposited them on Venus to borrow 2.60 million USDT, which was subsequently used to buy more BNB on Binance. BNB is currently trading above $700 but faces resistance in the $700-$720 zone. If this level is cleared, the next price targets are around $950 or higher. The BNB network also activated the Pasteur Hardfork on August 22, improving bridges and validator protections.
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