BNB blasts past $850 to new ATH, what’s driving the rally?

The BNB has just pierced its previous ceiling, by winning a new summit of all time while the bullish momentum floods in the binance ecosystem.

According to Crypto.News data on July 28, BNB (Bnb) has climbed more than 7.7% in the last 24 hours, exchanging just under $ 857 at the time of the editorial staff. The rally adds to a strong monthly trend up, the token now increasing more than 12% last week, 20% in the last 30 days and almost 45% of one year.

BNB’s ATH rallying it among the first five of the day best performersBriefly touching $ 860 before retreating slightly. The rally has also illuminated a trading activity, the daily volume straight on almost 90% during the day, according to in CoinmarketCap.

The native token now commands a market capitalization of more than $ 119 billion, solidifying its position as a fifth largest cryptographic asset behind Bitcoin only (BTC), Ethereum (Ethn), XRP (Xrp), and usdt (USDT). But what motivates the rally?

Why bnb is booming

Race rises when investors’ confidence in binance -related products continues to bounce back. By Coigecko dataThe daily volume of Binance has increased by 58% today, reaching approximately $ 21 million. The data on the chain show that activity on Binance Smart Chain (BSC) also quickly resumes, with a total locked value (TVL) on the network reaching approximately $ 7.2 billion, its highest level since the start of 2022, according to Defilma data.

BNB also benefits from the aggressive Binance strategy that burns tokens. The most recent quarterly burns have eliminated more than 1.9 million BNB traffic, worth more than $ 1.5 billion at current prices. This deflationary pressure helps fuel price escape.

In addition to this, whales activity and institutional interest are reproducing. Earlier this month, Nano labs And Windtree Therapeutics The two unveiled cash on the BNB, aimed at holding the token as a long -term reserve asset.

Together, the two companies already have Millions acquired In BNB, adding a new momentum to the rally.

What is the next step for BNB, are $ 1,000 in sight?

The current rally has sparked a wave of excitement among investors, many of which now calling $ 1,000 as the next price target. Cryptoque author Joao Wedon echoes the feeling, saying that there is still ahead. In a post X, Wedson underlined the BNB market capitalization as a key metric, which currently represents 24% Ethereum.

According to the analyst, if BNB reduces this very modestly gap, the objective of $ 1,000 could actually be a conservative target. Wedson has also noted that the BNB / ETH summits often coincide with major turntables in the Bitcoin price, which suggests that BNB rupture could be an early signal of a wider market dynamic.

With thousands of tokens on the BSC and the liquidity rising through the Binance ecosystem, all eyes are now on the fact that BNB can stretch the rally in four figures.