Ethereum News Today: BNB Hits All-Time High of $855.84 Posts 7.4% Surge as Market Cap Surpasses $118.5B

BNB surged to an all-time high of $855.84 on July 28, achieving a 7.4% increase within 24 hours and pushing its market capitalization beyond $118.5 billion. The digital asset’s price exceeded its previous peak of $808 set on July 23, marking the second consecutive week of significant gains [1]. Unlike earlier rallies, this surge did not trigger a decline in other major cryptocurrencies; XRP and ETH both recorded positive movements during the same period. XRP rose nearly 2% while ETH continued its upward trajectory, climbing 3.9% to surpass $3,934 [1].

The coordinated performance of BNB and ETH underscores a broader market shift. ETH’s sustained gains, now nearing $4,000 for the first time since December 2024, suggest a decoupling from traditional crypto market volatility. BNB’s rally, meanwhile, appears driven by long-term capital inflows rather than speculative trading, as evidenced by the lack of a corresponding spike in futures open interest [1]. Binance Research attributed the asset’s strength to its transition from a retail-focused token to an institutional-grade reserve, citing a five-year Sharpe ratio of 2.5 and lower maximum drawdowns compared to peers [1].

Investor optimism has intensified as BNB’s 30-day gains exceeded 30%. Social media discussions highlight potential resistance levels between $840 and $880, with some analysts forecasting a $1,000 target by August. However, these projections remain speculative and not tied to official guidance. The Binance Research report emphasized that BNB’s recent momentum stems from new capital entering the spot market, reinforcing its role as a stable, high-return asset [1].

The digital asset’s market position has also strengthened, solidifying its status as the fifth-largest cryptocurrency by market capitalization. Its performance contrasts with prior periods when price surges were often linked to leveraged trading or cross-chain capital rotation. This time, the rally reflects broader institutional confidence, as noted in the Binance analysis, which highlighted BNB’s ability to balance risk and reward over the long term [1].

As BNB approaches uncharted territory, the crypto community remains divided on whether the $1,000 milestone is achievable. While some traders view the current price range as a consolidation phase, others see technical indicators supporting further gains. The absence of significant downside pressure in the broader market, coupled with ETH’s sustained performance, suggests a favorable environment for BNB to test its next level of resistance.

Source: [1] [BNB Smashes New All-Time High, Eyes $1,000 Mark] [https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=bnb-smashes-new-all-time-high-eyes-1000-mark]