A crypto whale borrowed more than $8.5 million on Venus Protocol to buy additional BNB, signaling bullish sentiment and expanding an existing leveraged position. The wallet previously withdrew 8,474 BNB worth $5.9 million from Binance, deposited the tokens into Venus and borrowed $2.6 million in USDT, which it transferred to Binance to purchase more BNB. BNB has since broken out of a long sideways trading range and is trading above $700, although resistance remains ahead.