The digital asset created and backed by the crypto giant Binance is surging, 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 stems from new institutional bets on the altcoin.
CEA Industries says it now has a $611 million BNB treasury holding 480,000 tokens, while Kazakhstan’s Alem Crypto Fund named BNB its first national reserve asset.
Says CEA Industries CEO, David Namdar,
“BNB’s all-time highs are a clear validation that the global markets are waking up to the inherent value, credibility, scale, and utility of both the asset and underlying ecosystem.
We view BNB not just as a token, but as the fulcrum of a massively integrated ecosystem.”
In addition, BNB’s Q3 DEX volume has soared 185% to $37.1 billion, driven by the decentralized exchange (DEX) aggregator Aster’s whopping $29 million in daily fees.
BNB was created as the native token of the BNB Chain, powering transactions, staking and offering traders who pay their fees with BNB a discount.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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