Binance Coin Breaks $800 Barrier Driven by Institutional Investment

Binance Coin (BNB) has surged past the $800 mark, with a price increase of 1.46%, and its market capitalization is now exceeding $113 billion. This rapid growth in BNB’s value has attracted increased interest from institutional investors, who are now considering it as a treasury asset for their portfolios. 200,000 BNB tokens were purchased by the BNB Network Company, making them one of the largest holders globally. This investment was secured through a $500 million private placement led by 10x Capital and YZi Labs.