Ethereum News Today: BNB Surpasses Nike in Market Cap on 31.47% Surge to $861.2 Eyes $900 Target

Binance Coin (BNB) has surpassed Nike Inc. in market capitalization, reaching $119 billion compared to the sportswear giant’s $112 billion valuation as of July 28, 2025 [1]. This milestone follows a 31.47% surge in BNB’s price over the past 30 days, pushing the token to an all-time high of $861.2. The move has drawn attention to BNB’s sustained demand, driven by institutional and corporate investments, as well as strong on-chain metrics.

BNB’s recent performance has been supported by a 98% increase in 24-hour trading volume, generating over $3.85 billion in activity [1]. Analysts suggest the token could breach $900 before the weekend, a target reinforced by technical indicators showing a breakout above a two-year resistance level. On-chain data also reveals BNB’s dominance in key blockchain metrics: the BNB Chain recorded $5.06 billion in 24-hour decentralized exchange (DEX) volume, outpacing Ethereum’s $3.54 billion and Solana’s $2.217 billion [2].

Corporate adoption has further fueled BNB’s momentum. Biotech firm Windtree Therapeutics secured $520 million in funding to establish one of the largest BNB reserves, while China-based Web3 infrastructure provider Nano Labs Ltd. announced plans to acquire up to $1 billion in BNB through convertible notes and private investments [1]. Binance founder Changpeng Zhao (CZ), who controls 64% of BNB’s circulating supply, expressed gratitude for ecosystem contributors in a July 23 tweet, highlighting BTC maximalists, ETH holders, and institutional investors as key demand drivers [1].

Technical analysis of BNB’s 4-hour chart indicates robust bullish momentum. The token has cleared a key resistance at $837.75, trading near $843.71 with the next projected target at $900.02. Volume expansion and a relative strength index (RSI) of 67.22 suggest continued upward pressure, though short-term consolidation near $837–$840 is possible before advancing higher [3]. Analyst BitBull notes that institutional interest and Binance’s dominance as the top exchange position BNB to potentially reach $1,000 by Q4, with long-term cycle peaks estimated at $1,800–$2,000 [1].

BNB’s expansion phase is also reflected in the BNB Chain’s outperformance across application revenue and network activity. The chain generated $3.96 million in application revenue compared to Ethereum’s $2.39 million, underscoring its growing utility in decentralized finance and Web3 infrastructure [2].

The rapid valuation shift underscores the evolving dynamics between traditional equities and digital assets. While Nike’s market cap remains vulnerable to sector-specific risks, BNB’s growth hinges on continued institutional adoption and regulatory clarity. Investors are advised to monitor corporate treasury purchases, on-chain activity, and CZ’s strategic initiatives as key drivers for the token’s trajectory.

Sources:

[1] [BNB Overtakes Nike in Market Cap and Could Reach $900 Before Weekend – Here’s Why](https://cryptonews.com/news/bnb-overtakes-nike-in-market-cap-and-could-reach-900-before-weekend-heres-why/)

[2] [DeFiLlama](https://www.defillama.com/)

[3] [TradingView](https://www.tradingview.com/)