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BNB hits $942 ATH as market cap surpasses UBS
BNB has set a new all-time high at $942.5. Binance CEO Changpeng “CZ” Zhao has urged banks to adopt Binance Coin after the token surpassed the market capitalization of Union Bank of Switzerland.
On Saturday, BNB extended its rally, gaining more than 8% over the week, with the native Binance token trading above $940 for much of the day, updating its ATH. Following this milestone, Zhao called on banks to integrate BNB into their operations, highlighting that its market capitalization of $129 billion has now overtaken that of UBS.
A combination of factors contributed to BNB’s success, including the recent Maxwell network upgrade, institutional accumulation, and its deflationary burn mechanism, all boosted by rising expectations of altseason. On August 11, Nasdaq-listed BNB Network Company acquired 200,000 BNB ($160 million), becoming the largest corporate holder.
Large-scale purchases, such as Windtree Therapeutics’ planned $520 million buy, further reduce circulating supply and signal institutional confidence, adding upward pressure alongside quarterly burns of 2 million tokens.
$1,300 next?
Currently, BNB Chain ranks third by active users (47 million monthly), while DEX trading volumes surged 49% following the Maxwell upgrade. VanEck’s May filing for a BNB ETF has added optimism, as ETF prospects remain highly attractive for institutional investors.
However, competition from Solana (58 million users) and regulatory risks tied to Binance-linked assets still act as limiting factors. In case of a broader crypto market correction, BNB must hold current support levels such as the 30-day EMA at $863.
Meanwhile, analyst Ali sees further growth potential, suggesting BNB is only halfway through its bullish breakout, with the next target set at $1,300.
As we wrote, BNB on top: Why Binance token keeps breaking records
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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