Binance Coin (BNB), the fifth-largest cryptocurrency, continues to rise steadily, establishing a new all-time high and significantly increasing its market capitalization.
BNB's Market Capitalization Surge
BNB increased by 6.48% in the past 24 hours, reaching a new all-time high of $859. Its market cap currently stands at $118.29 billion after dropping from $119.3 billion. Over the past week, BNB's increase totaled 12.74%.
BNB's Price Dynamics and Company Impact
BNB briefly surpassed $860 and then retreated. It is currently trading at $849. This was the third historical peak reached in the last week, allowing Binance Coin to rise to 11th place in the global asset rankings, surpassing major companies like Nike and SoftBank.
Changpeng Zhao's Wealth Increase
Following the BNB surge, the net worth of its creator, Changpeng Zhao, widely known as CZ, has also increased significantly. His current net worth is estimated at $75 billion, but combined with his holdings of around 98 million BNB tokens, his total may reach $158 billion, surpassing Warren Buffett's wealth.
Overall, Binance Coin's growth not only confirms its influence in the cryptocurrency market but also contributes to the significant increase in the wealth of its founder.
