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Key Takeaways
BNB (
$691.18 ) hit a new all-time high above $800, outperforming Bitcoin (
$75,642.00 ) and reclaiming the fifth spot in market capitalization.
Institutional interest in BNB ( $691.18 ) is rising, with companies and funds adding BNB ( $691.18 ) to treasuries and projections targeting higher future prices.
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BNB ( $691.18 ) , formerly known as Binance Coin, surged 5% in the past 24 hours to reach a new all-time high above $800, according to data from CoinGecko. On Binance, the crypto asset hit a high of $804 on Tuesday evening.
The recent rally has pushed BNB ( $691.18 ) ’s market capitalization to $111 billion, overtaking Solana (SOL) as the fifth-largest crypto asset. SOL’s market cap currently hovers around $110 billion.
The native token of the Binance ecosystem, which last peaked at $750 in December 2024, has outperformed Bitcoin ( $75,642.00 ) with a 16% gain over the last seven days, compared to Bitcoin ( $75,642.00 ) ’s 2% increase.
The surge comes as publicly traded companies increasingly diversify their treasury strategies beyond Bitcoin ( $75,642.00 ) , with major altcoins like Ethereum (
$2,227.84 ) , XRP (
$1.19 ) , SOL, BNB ( $691.18 ) , and Litecoin (
$52.33 ) likewise gaining traction.
On Tuesday, Nasdaq-listed Nano Labs announced it had expanded its BNB ( $691.18 ) holdings to approximately 120,000 tokens, valued at around $90 million. The firm recently acquired an additional 45,684 BNB ( $691.18 ) through OTC deals.
Nano Labs also plans to continue accumulating the token, acquire controlling stakes in BNB ( $691.18 ) -focused entities, and invest in firms that treat BNB ( $691.18 ) as a core reserve asset.
Nasdaq-listed Nano Labs expanded its BNB ( $691.18 ) holdings to 120,000 tokens, valued at approximately $90 million. The company acquired an additional 45,684.9862 BNB ( $691.18 ) through OTC transactions at an average price of $764 per token, with a total average purchase cost of $707 per token.
Institutional momentum is building elsewhere, too. YZi Labs, the family office of Binance co-founder Changpeng Zhao, is supporting 10X Capital’s launch of a BNB ( $691.18 ) treasury firm targeting a US public listing. The venture, to be headed by David Namdar, aims to provide institutional investors with BNB ( $691.18 ) token exposure.
BNB ( $691.18 ) could soar 360% to $2,775 by 2028: Standard Chartered
Standard Chartered predicts that BNB ( $691.18 ) could reach $2,775 by the end of 2028.
According to Geoff Kendrick, head of digital assets research at the bank, BNB ( $691.18 ) has mirrored Bitcoin ( $75,642.00 ) and Ethereum ( $2,227.84 ) ’s combined performance in terms of returns and volatility since May 2021.
The analyst notes that BNB ( $691.18 ) ’s fundamentals remain closely tied to Binance’s continued dominance in the crypto space. He also suggests that BNB ( $691.18 ) could emerge as a benchmark digital asset in the coming years.
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