On July 28, BNB reached a new all-time high above $850. As of July 29, the cryptocurrency ranked 188th in the global market capitalization rankings on 8marketcap.
BNB has surpassed SoftBank, Strategy, and Interactive Brokers by total market value and is approaching Nike. According to CoinMarketCap, the coin has risen 9% over the past week and consolidated its position among the top five cryptocurrencies by market capitalization.
A recent report from Binance Research attributes part of this growth to strong institutional interest. Notable investments in BNB include:
Nano Labs, which purchased 128,000 BNB, increasing its reserves to $108 million while the asset price was $850;
Windtree Therapeutics, which signed a $60 million agreement to form token reserves;
Liminatus, which plans to invest up to $500 million in BNB.
In early July, the Bhutanese government, together with local digital bank DK Bank, launched the Binance Pay service for tourists. This allows users to pay for flights, hotels, excursions, and street food using Bitcoin, BNB, and other cryptocurrencies.
The surge in BNB’s value represents a significant milestone for the Binance ecosystem, underscoring the token’s increasing importance beyond its traditional use as an exchange token.
Tech analysts point out that the surge in institutional activity, as well as international adoption initiatives like those in Bhutan, could further propel BNB’s relevance in global finance.
Binance Research experts also highlighted growing interest in BNB on the spot market. Its wide adoption across centralized and decentralized platforms supports the asset’s value and market strength.
