Neither bitcoin nor ether: this is the famous crypto that just hit a new all-time high
The rise adds to the solid upward trend shown this year, although it was largely overshadowed by the spectacular increases of bitcoin, ether, and XRP
This Thursday, BNB, formerly known as Binance Coin, reached a new all-time high of USD 881 per token.
The rise adds to the solid upward trend shown this year, although it was largely overshadowed by the spectacular increases of bitcoin, ether, and XRP. In the last 60 days, BNB has accumulated a gain of 35%.
With this record, the market capitalization of BNB surpassed Solana's by about USD 19 billion, consolidating it as the fifth largest cryptocurrency by market value. The surge included a 29% increase in July that allowed it to displace Solana from fifth place.
Among them are Windtree Therapeutics, from the pharmaceutical sector, and Nano Labs, focused on technology, which together allocated about USD 610 million to the purchase of BNB in July.
The trend is part of a broader movement of corporate diversification towards crypto assets, initiated in 2020 by MicroStrategy under the leadership of Michael Saylor. The company now holds the largest reserve of bitcoins among publicly traded firms, and its stock has appreciated nearly 500% since then.
However, the results do not always replicate that success. In the case of Windtree, the bet on BNB initially caused a jump of more than 30% in its stock price, but the enthusiasm deflated and its shares fell 90% from the peak reached.
That drop dragged the company's price below the minimum threshold of one dollar required by Nasdaq, exposing it to the risk of being delisted from the stock exchange.
