BNB Token Surges 3.14% Amid Binance’s $888,888 Giveaway and Major Institutional Accumulation

BNBUSDT has experienced a 3.14% increase over the past 24 hours, rising from 669.95 to 691.00 USDT. This upward momentum is largely attributed to Binance’s 8th anniversary promotions, including the $888,888 BNB giveaway and the launch of Soft Staking on Binance Earn, which have boosted user engagement and demand for BNB. Additional factors include the announcement of a BNB Smart Chain trading competition and notable institutional activity, such as Nano Labs’ recent acquisition of 74,315 BNB tokens and expressed interest in controlling a significant portion of the circulating supply. These developments have contributed to increased trading activity and positive sentiment, driving BNB’s price higher.

Currently, BNB is trading at 691.00 USDT with a 24-hour trading volume between $2.02 billion and $2.36 billion, and a market capitalization of approximately $95.82 billion, reflecting robust investor interest and active market participation as the token hovers near the $700 resistance level.