Binance Coin (BNB) has surged past a new all-time high of $1,280, fueled by a surge in blockchain activity and rising institutional interest. Record active addresses on the BNB Chain now stand at 58 million, showcasing significant adoption and engagement. This upward trend is further amplified by innovations like Crypto-as-a-Service contributing to the network’s growth.
Binance founder Changpeng Zhao (CZ) highlighted his own wealth tied to BNB skyrocketing to $89 billion, reflecting the network’s growing influence. The rise of BNB has spurred market cap gains, surpassing that of rivals like Solana and NEAR, as reflected by a $179 billion market cap.
The surge has triggered liquidations worth $400 million in just a day, primarily stemming from short positions against BNB. This trend is further amplified by parallel movements observed in Bitcoin and Ethereum, both reaching their own all-time highs. The potential for a Nasdaq listing further signals the ambition to integrate with traditional finance.
This growth mirrors historical trends from summer 2021 when meme coins experienced a surge in interest and participation.