BNB Token Surges 2.29% Amid Binance Anniversary, $888K Giveaway, and Major Chain Upgrades

BNBUSDT has experienced a 2.29% price increase over the past 24 hours, currently trading at $738.22 with a 24-hour opening price of $721.69. The recent price movement can be attributed to positive sentiment surrounding Binance's 8th anniversary promotion, which offers participants a share of up to $888,888 in BNB, as well as technical developments on the BNB Chain, including an upcoming gas limit upgrade and recent improvements such as reduced block time, lower gas fees, and decreased Maximal Extractable Value (MEV). Additionally, a significant purchase of 74,315 BNB by Nano Labs in early July has contributed to increased market activity and optimism.

The BNB/USDT market has shown notable volatility, with a 24-hour trading range between $675.88 and $748.17 and trading volumes reported up to $3.05 billion. BNB's market capitalization is estimated between $90.32 billion and $110.61 billion, with a circulating supply of approximately 139.28 million to 150 million tokens. Over the past week, BNB has outperformed the broader crypto market, reflecting a 9.80% price increase compared to the global market's 6.90% rise.