Bitcoin News Today: BNB Hits $855.84 All-Time High Surges 7.4% on $610M Institutional Inflows

BNB, the native token of Binance, has reached a new all-time high of $855.84 on July 28, surging 7.4% in the last 24 hours and pushing its market capitalization past $118.5 billion [1]. This follows a 19% rally earlier in the week, fueled by $610 million in institutional investments, which lifted the price to a prior peak of $809 [4]. Analysts note that a sustained breakout above $809 could position BNB for a potential $1,000 psychological threshold, with $743 identified as a critical support level [3]. The token has outperformed broader cryptocurrency markets, outpacing Bitcoin’s 0.84% gain to $119,246 and Solana’s 3.01% increase [2].

The recent momentum is attributed to growing institutional interest and bullish technical indicators. A 5% gain in 24 hours on July 24 and a weekly increase of nearly 12% to $851 underscore BNB’s strength [7]. Institutional buying has been a key driver, particularly during periods of heightened market volatility and regulatory scrutiny [4]. Meanwhile, broader risk-on sentiment in digital assets, including record highs in Ethereum’s price and CME futures open interest in July, has amplified market optimism [5].

However, challenges remain. Regulatory uncertainties persist, with analysts cautioning that sustained gains will depend on resolving global economic tensions. The recent U.S.-China tariff truce briefly boosted BNB to $825 [5], but long-term stability requires macroeconomic stability and continued institutional inflows. Coinpedia analysts suggest that clearing the $809 resistance could trigger further buying, with $855.84 already breached [3]. While such forecasts are speculative, technical indicators remain favorable, showing a 7.4% daily gain and a rapidly expanding market cap [1].

BNB’s trajectory highlights the growing influence of institutional capital in the crypto sector. Its performance reflects broader confidence in Binance’s ecosystem, with price analysis indicating bullish momentum above $780 [3]. As the market matures, BNB’s ability to maintain its current trajectory will depend on macroeconomic conditions and regulatory clarity, factors that could either accelerate or hinder its path to $1,000.

Source:

[1] Ethereum News Today: BNB Hits All-Time High of $855.84

https://www.ainvest.com/news/ethereum-news-today-bnb-hits-time-high-855-84-posts-7-4-surge-market-cap-surpasses-118-5b-2507/

[2] Bitcoin Price Climbs to $119246 While BNB and Solana Lead Gains

https://www.analyticsinsight.net/price-analysis/crypto-prices-today-bitcoin-price-climbs-to-119246-while-bnb-and-solana-lead-gains

[3] BNB Price Analysis: Will Binance Coin Break Past $1,000 Next?

https://coinpedia.org/price-analysis/bnb-price-analysis-will-binance-coin-break-past-1000-next/

[4] BNB Surges 19% on $610M Institutional Investments, Eyes $1,000 Target

https://www.ainvest.com/news/bnb-surges-19-610m-institutional-investments-eyes-1-000-target-volatility-2507/

[5] Bitcoin Jumps Amid Reports Of 90-Day US-China Tariff Truce

https://coingape.com/bitcoin-jumps-amid-reports-of-90-day-us-china-tariff-truce/

[7] Why Is Crypto Market Going Up Today? BNB Hits New ATH

https://coinpedia.org/news/why-is-crypto-market-going-up-today-bnb-hits-new-ath-xrp-and-eth-surge/