BNB, the native coin of the Binance exchange, is becoming a “shining star” in the cryptocurrency “sky.”
In the past 24 hours, BNB has surged more than 11%, soaring past $700 and setting a new all-time high (ATH). The previous peak for the native coin of the BNB Chain ecosystem was $690, reached in May 2021.
Regarding trading volume, approximately $3.3 billion worth of BNB has changed hands in the past 24 hours. The coin currently holds a market capitalization of $107.2 billion.
Commenting on this milestone, expert “Sheldon The Sniper” expressed confidence in BNB, viewing it as one of the market-dominating altcoins. He projected that the price target of $1,000 is within reach if the current trend continues.
Analyst Kaleo also offered his perspective:
“While all attention is focused on BTC, ETH, and SOL, BNB is quietly entering a new price phase. Don’t forget that BNB was one of the market-leading coins in the previous bull run. History doesn’t always repeat itself, but it often rhymes.”
As usual, BNB’s upward momentum is often reinforced by Binance Launchpool and Launchpad. This platform encourages users to hold and stake BNB to farm new coins before they are listed on Binance. The frequent launchpool events and listings have significantly helped the world’s largest crypto exchange not only retain users but also support the price of its native coin.
However, at present, BNB has unexpectedly hit a new peak without any recent launchpad or launchpool events. The most recent was the Launchpool Notcoin, a game that attracted users by offering free profits through the Tap-to-Earn mechanism directly on the Telegram messaging app.The movement of BNB has caused the entire BNB Chain ecosystem to start “stirring.”At the same time, Bitcoin has risen nearly 3% over the past 24 hours and is trading around $71,225, thanks to a massive $887 million inflow into the Spot ETF yesterday. This positive news has also turned most altcoins in the market green.
