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Altcoins Rally- BNB Hits $800+ as Crypto Market Heats Up
Altcoins Rally– Binance Coin (BNB) smashed through the $800 mark in early Asian trading on Wednesday, hitting a fresh all-time high. The token has been on a remarkable run, soaring over 16% in the last week and nearly 30% in the past month.
Market Cap Matches Nike, Signaling Massive Growth
BNB’s market capitalization now stands at $111.5 billion, rivaling major global brands like Nike. Former Binance CEO Changpeng Zhao celebrated this milestone, acknowledging the ecosystem’s diverse players—from BTC maximalists and ETH holders to meme traders and regulators.
Treasury Moves Fuel the Rally
The price surge follows news that Nasdaq-listed Nano Labs became the first public company to establish a BNB treasury, holding 120,000 BNB—valued at approximately $90 million. Nano Labs further boosted their position by acquiring an additional 45,685 BNB through OTC trades at an average price of $764 per token.
In June, Nano Labs also announced a $500 million convertible note deal aimed at purchasing up to 10% of BNB’s circulating supply, which currently stands at 139 million out of 200 million total tokens.
Altcoins Join the Rally
BNB isn’t alone in this bullish altcoin wave. Ethereum surged 67% in the past month, reaching $3,800—a seven-month high. Ripple (XRP) hit a record $3.65 on July 18. Solana gained 24% last week, though still down from its January peak.
Other altcoins like Dogecoin jumped 35% in a week, despite being well below its 2021 highs. Cardano rallied 50% in two weeks but remains over 70% below its peak from four years ago.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
