BNB Reaches 850 USD, Surpassing SoftBank and Strategy in Market Capitalization

On July 28, BNB reached a new all-time high of over $850. As of July 29, this cryptocurrency ranks 188 on the global market capitalization chart on 8marketcap. BNB has surpassed SoftBank, Strategy, and Interactive Brokers in total market value and is approaching Nike. According to CoinMarketCap, this cryptocurrency has increased by 9% in the past week and is solidifying its position among the top five cryptocurrencies by market capitalization. A recent report from Binance Research suggests that part of this growth is due to strong interest from institutions. Notable investments in BNB include: Nano Labs has purchased 128,000 BNB, increasing reserves to 108 million dollars while the asset price is 850 dollars; Windtree Therapeutics, a company that has signed a 60 million dollar agreement to establish a symbolic reserve fund; Liminatus plans to invest up to 500 million dollars in BNB. In early July, the government of Bhutan, along with the local digital bank DK Bank, launched the Binance Pay service for travelers. This service allows users to pay for flights, hotels, tours, and street food using Bitcoin, BNB, and other cryptocurrencies. The surge in the value of BNB marks an important milestone for the Binance ecosystem, highlighting the increasing significance of this token beyond its traditional use as a trading token. Technology analysts point out that the increase in activity from institutions, as well as international adoption initiatives such as in Bhutan, could further enhance the significance of BNB in global finance. Experts from Binance Research also emphasize the growing interest in BNB in the spot market. The widespread adoption of this cryptocurrency on centralized and decentralized platforms supports the value and market strength of the asset.