Binance Coin (BNB) is showing strong growth, reaching a new record of $804 thanks to Nano Labs' actions and increasing investor interest.
New Record Achievement for BNB
On July 23, Binance Coin hit a new all-time high of $804, demonstrating a daily gain of over 6%. This surge occurred shortly after Nano Labs announced the acquisition of an additional 45,684 BNB tokens, which adds to the previously acquired 74,315 tokens. The company now holds over 90 million BNB tokens, heightening speculation around further price increases.
Signals in BNB Derivatives Market
Data from CoinGlass shows a notable 24% increase in open interest in BNB derivatives over the past 24 hours, bringing the total to $1.27 billion. This marks the highest level of open interest since December 2024 and indicates increased trader activity and market participation. The data confirms positive investor sentiment, suggesting continued price acceleration.
Institutional Investments and Future Expectations
Nano Labs' consistent accumulation of BNB has drawn comparisons to MicroStrategy’s Bitcoin investment strategy. As institutional interest grows, expectations around BNB’s long-term valuation have shifted. Analysts note that surpassing the $1,000 level could prompt a larger wave of buyers to enter the market.
Drawing on current data and institutional investments, Binance Coin shows significant growth, creating favorable conditions for potential price increases.
