Big Money Enters BNB, Pushing Crypto To $801 ATH—Details
BNB, the native cryptocurrency of BNB Chain, crossed the $800 level in early Asian trading on Wednesday to set a new all-time high of $801.
The surge came after a 5% increase over the last 24 hours and a 13% gain in the last week, taking BNB’s market capitalization to over $110 billion. Currently, it ranks as the fifth-largest cryptocurrency by market capitalization.
Spike In Volume And Derivatives Trading
Volume trading around BNB has increased strongly. According to Coinglass data, daily volume rose over 40% to over $3 billion. Derivatives volume surged 31% to $2.18 billion, while open interest in BNB futures increased 19% to $1.23 billion.
These represent an expanding tide of speculation and demand for the asset, perhaps fueled by…
