BNB’s market capitalization crossed $119 billion, overtaking global companies like Nike and SoftBank. On Thursday, BNB marked its all-time high by surpassing $866. BNB now surpasses Ethereum in having over 1% of its supply held in public company treasuries. BNB’s (Binance Coin) market capitalization has soared above $119 billion, overtaking global companies like Nike and SoftBank. Ali Martinez, a well-known crypto analyst, says he feels bullish on BNB , pointing out that it has been one of the best-performing cryptocurrencies this year, hitting new record high prices. Martinez also mentioned that BNB’s recent success is due to big institutional adoption, with public companies, a sovereign fund, and even treasury arms holding positions valued at hundreds of millions of dollars. “Owning BNB is like owning a piece of Binance”, Martinez said in his X post. BNB reached a new all-time high, by rallying above $866, with some analysts now vying $900 as the next short-term target. Bullish technicals setting the stage for a potential push toward $2,000. Transaction volume on BNB Chain’s decentralized exchanges surged 66% last week to $31 billion, supporte… The post How BNB’s Utility, Institutional Backing, and Price Discovery are Fueling its Rally appeared first on Coin Edition .
