Binance Coin (BNB), the native cryptocurrency of the world’s largest crypto exchange, Binance, has reached a new milestone by surging to an all-time high above $805. This impressive rally was noted and tweeted by CoinGecko on X, which comes amid growing institutional interest and increased adoption of the Binance coin.
BNB Surges Above $805
Institutional Accumulation is a key factor driving the Surge. Nano Labs, a Web3 infrastructure firm, recently disclosed that it had raised its BNB holdings to 120,000 tokens, valued at approximately $90 million. This significant investment demonstrates the growing confidence of institutional investors in the Binance coin’s long-term potential.
Furthermore, publicly traded companies are increasingly diversifying their treasury strategies beyond Bitcoin, with major altcoins like Ethereum, XRP, SOL, BNB, and Litecoin gaining traction. This trend has contributed to the rise in the price of Binance Coin.
BNB’s $111 billion market capitalization makes it the fifth-largest crypto asset. Trading activity increases with daily volume up 42% to $3.2 billion, futures open interest at $1.23 billion, and derivatives volume at $2.18 billion. This indicates growing investor interest and momentum, characterized by bullish technical indicators and a high Relative Strength Index (RSI).
BNB Future Projections
Standard Chartered predicts that the Binance coin could reach $2,775 by the end of 2028, citing the token’s strong fundamentals and growing institutional support.
Notably, BNB Chain’s technical advantages, such as low transaction fees and high network throughput, continue to attract new projects and developers. Over 440 million transactions were processed on the Binance-linked layer-1 in July alone, demonstrating growing on-chain activity.
As the cryptocurrency market continues to evolve, the Binance coin’s recent surge to an all-time high above $805 highlights its growing importance as a major digital asset. With institutional interest and treasury diversification driving the rally, the Binance-affiliated coin’s prospects look promising.
Recall that Bitcoin reached a new all-time high of $123,236 a few weeks ago, representing a 110.7% increase compared to the same period last year, when it traded at around $58,500.
Notably, the new all-time high tanked to a low just four days later, as the pioneer crypto asset had previously touched $118,000. This surge is driven by growing institutional interest, with over 4,700 BTC acquired as companies ramp up their holdings.