Binance Coin (BNB) continues to perform strongly, achieving a new all-time high of $800. This event is accompanied by significant changes in the cryptocurrency market.
Record BNB Prices
This week, the price of Binance Coin (BNB) rose above $800, marking a new all-time high for this asset. Over the past week, BNB has increased by more than 16% and nearly 30% in the past month. BNB's market capitalization has reached $111.5 billion, comparable to that of Nike.
Support from Nano Labs
An important contribution to BNB's price growth came from news that the Nasdaq-listed company Nano Labs created a treasury of 120,000 BNB, valued at around $90 million. Nano Labs also acquired an additional 45,685 BNB through OTC transactions at an average price of $764 per token. Their goal is to acquire 10% of the total BNB supply, highlighting the importance of this asset in their investment strategy.
Trends in Altcoin Market
BNB's success reflects a broader trend in the cryptocurrency market, where altcoins are witnessing growth. Many of them, including Ethereum and XRP, have also shown significant price increases. Ethereum has risen by 67% over the past month, reaching $3,800, while XRP surged to an all-time high of $3.65. Other altcoins like Solana and Dogecoin also recorded impressive weekly gains.
The record price of BNB highlights the growing interest in crypto assets and signifies positive changes in the altcoin market, which could indicate the onset of a new phase of altseason.
