BNB Token Surges 3% as Hedge Funds Target $100M Investment and Ecosystem Activity Grows

BNBUSDT has experienced notable price volatility over the past 24 hours, with the price rising 3.03% from a 24h open of $622.05 to a current level of $640.90. This upward movement is primarily attributed to heightened institutional interest, particularly following the announcement that hedge fund executives plan to raise $100 million for a Nasdaq-listed treasury vehicle dedicated to accumulating BNB, which has increased investor confidence and demand. Additional factors supporting the price include active ecosystem developments, such as Binance's ongoing integration of BNB into new crypto listings and the launch of promotional campaigns like the 'Traders League: Write & Earn,' which further drive engagement and utility. Market metrics show a 24-hour trading volume near $3 billion and a market capitalization of approximately $93.4 billion, reflecting strong liquidity and sustained trading activity.