On August 14, BNB updated its price record at $870.14. The token's market capitalization reached $120 billion, securing its fifth place among the largest crypto assets.
At the time of writing, the price of the Binance coin has corrected to $833.28.
The BNB Chain team stated that the fundamental reason for the rally was the network's performance after the June hard fork Maxwell.
They provided the following figures:
-block creation time is 0.75 seconds, and finalization is 1.875 seconds;
-over 12 million transactions per day (peak - 17.6 million)
-$165 billion in DeFi swaps over six months.
"Such scale means that BNB is not just a token, but a currency based on one of the fastest and most reliable public blockchains in the world," the developers noted.
Representatives of BNB Chain also highlighted the leading positions of the blockchain in DeFi. Its TVL exceeds $7.3 billion, and the number of daily active addresses is 2.4 million.
Another driver is the growing institutional adoption. At the end of July, Nano Labs acquired 128,000 BNB, increasing reserves to $108 million. Windtree and Liminatus plan to spend $60 million and $500 million, respectively.
BNB Forecast
Members of the crypto community remain optimistic about the future prospects of BNB. An analyst under the nickname Galaxy emphasized that the token has broken through multi-year resistance. According to him, the same happened during the bull market in 2021 when the asset's price first exceeded $600.
Expert under the pseudonym Crypto Yoddha expects that in the near future the price of the token will reach $1000.
A similar opinion was expressed by crypto trader Crypto King:
"BNB is only 15% of a four-digit price. The rate has broken the historical maximum at $865 and is confidently holding above the support level. If the momentum continues, the next target is $1000. It seems worth preparing for a new powerful surge," he wrote.
Analyst under the nickname Crypto Patel believes that BNB could rise to $2000, as the asset "gains momentum and liquidity increases."
In May, analysts from Standard Chartered predicted BNB to rise to $2775 by 2028.
