BNB just broke through its previous ceiling, notching a new all-time high as bullish momentum floods into the Binance ecosystem.
Summary
- Binance Coin (BNB) has hit a new all-time high.
- Momentum is building across the Binance ecosystem.
- Institutional players like Nano Labs and Windtree are now holding BNB as treasury assets.
According to crypto.news data on July 28, BNB (BNB) has soared over 7.7% in the past 24 hours, trading slightly under $857 at the time of writing. The rally adds to a strong monthly uptrend, with the token now up more than 12% in the past week, 20% in the last 30 days, and nearly 45% year-to-date.
BNB’s ATH rally places it among the day’s top five best performers, briefly touching $860 before pulling back slightly. The rally also lit up trading activity, with daily volume spiking nearly 90% on the day, according to CoinMarketCap.
The native token now commands a market cap of over $119 billion, solidifying its position as the fifth-largest crypto asset behind only Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and USDT (USDT). But what’s driving the rally?
Why BNB is surging
The upward run comes as investor confidence in Binance-linked products continues to rebound. Per Coingecko data, Binance’s daily trading volume is up 58% today, hitting roughly $21 million. On-chain data shows activity on Binance Smart Chain (BSC) is also picking up fast, with total value locked (TVL) on the network rising to approximately $7.2 billion, its highest level since early 2022, according to DeFiLlama data.
BNB is also benefiting from Binance’s aggressive token-burning strategy. The most recent quarterly burn removed over 1.9 million BNB from circulation, worth more than $1.5 billion at current prices. This deflationary pressure is helping fuel the price breakout.
On top of that, whale activity and institutional interest are picking up. Earlier this month, Nano Labs and Windtree Therapeutics both unveiled BNB-focused treasury strategies, aiming to hold the token as a long-term reserve asset.
Together, the two firms have already acquired millions in BNB, adding fresh momentum to the rally.
What’s next for BNB, is $1,000 in sight?
The ongoing rally has triggered a wave of excitement among investors, with many now calling $1,000 as the next price target. Cryptoquant author Joao Wedson echoed the sentiment, saying there’s still plenty of upside ahead. In an X post, Wedson pointed to BNB’s market cap as a key metric, which is currently 24% of Ethereum’s.
Per the analyst, if BNB closes that gap even modestly, the $1,000 target might actually be a conservative target. Wedson also noted that BNB/ETH tops often coincide with major turning points in Bitcoin’s price, suggesting that BNB’s breakout could be an early signal of broader market momentum.
With thousands of tokens on BSC and liquidity rising across the Binance ecosystem, all eyes are now on whether BNB can stretch the rally into four digits.
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