The digital asset created and backed by crypto giant Binance is rising, fueled by memecoin trading and corporate treasuries.
BNB just shattered its all-time high, touching $1,316 while up 8.8% in 24 hours, with trading volume surpassing $3 billion.
This rally also comes from new institutional bets on the Altcoin.
CEA Industries says it now has a $611 million BNB Treasury with 480,000 tokens, while Kazakhstan’s Alem Crypto fund named BNB its first national reserve asset.
Out CEA Industries CEO, David Namdar,
“BNB’s all-time highs are clear validation that global markets are waking up to the inherent value, credibility, scale and utility of both the asset and the underlying ecosystem.
We view BNB not just as a token, but as the fulcrum of a massively integrated ecosystem. ”
Additionally, BNB’s Q3 DEX volume has increased 185% to $37.1 billion, powered by Aster’s Decentralized Exchange (DEX) Aggregator no less than $29 million in daily costs.
BNB was created as the native token of the BNB chain, powering transactions, offering and offering merchants who pay their fees with BNB a discount.
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Generated image: midjourney