Solana News Today: Binance Coin Surges Past $800 for First Time on 30% Monthly Gain and Institutional Buys

Binance Coin (BNB) reached a historic milestone on July 23, 2025, surging past $800 for the first time in its trading history. The price spike, which occurred during early Asian trading hours, marked a 16% weekly gain and a 30% monthly increase, propelling BNB’s market capitalization to approximately $111.5 billion—nearly equivalent to that of Nike Inc. The milestone was highlighted by Binance’s official tweet, with former CEO Changpeng Zhao crediting the ecosystem’s collective efforts for the achievement. BNB’s price had climbed 300% from its October 2023 low of $200, driven by a combination of strategic institutional activity and broader market dynamics.

The surge followed a major development in the crypto asset management sector: Nasdaq-listed Nano Labs established a $90 million BNB treasury, acquiring 120,000 tokens at an average cost of $707 per unit. This marked the first public company to allocate BNB as part of its treasury reserves. On July 22, the firm further expanded its holdings by purchasing 45,685 additional BNB tokens at an average price of $764 through over-the-counter trades. The move signaled growing institutional confidence in BNB’s long-term value, with Nano Labs describing the acquisition as a “major milestone in upgrading our BNB strategic reserve.”

BNB’s rally is part of a broader trend of institutional investors diversifying their crypto holdings beyond Bitcoin and Ethereum. A Chinese blockchain company, which had previously raised $500 million in convertible notes to fund BNB purchases, announced plans to acquire up to 10% of the token’s circulating supply. With 139 million BNB currently in circulation out of 200 million total, the token’s scarcity profile has been reinforced by routine buybacks and network upgrades aimed at reducing transaction fees and enhancing scalability. These measures have attracted enterprise adoption, particularly in cross-chain infrastructure and decentralized finance (DeFi) applications.

The BNB surge aligns with a wider “altseason” in the cryptocurrency market, where alternative tokens have outperformed traditional assets. Ethereum, for instance, rose 67% in a month, hitting $3,800, while Ripple’s XRP reached an all-time high of $3.65. Solana and Dogecoin also posted double-digit gains, reflecting renewed risk appetite among investors. Analysts attribute the momentum to a combination of reduced macroeconomic uncertainty and strategic developments in blockchain infrastructure. However, volatility remains a concern: Solana, despite a 24% weekly gain, remains 31% below its January peak, while Dogecoin’s 35% weekly surge contrasts with a 64% decline from its 2021 high.

BNB’s trajectory highlights the interplay between institutional demand and technical upgrades. The token’s market capitalization briefly surpassed Solana’s in the wake of the $800 milestone, underscoring BNB’s competitive positioning in the smart contract space. Yet, the crypto market’s inherent volatility means sustained growth will depend on maintaining network security, expanding use cases, and securing regulatory clarity. While some analysts have forecast BNB reaching $800 or higher in the coming months, these projections are contingent on continued adoption and favorable macroeconomic conditions. For now, the $800 level represents not just a price target but a symbolic threshold for BNB’s evolving role in the blockchain ecosystem.