Binance Coin (BNB) has surpassed athletic giant Nike’s market capitalization after reaching a new all-time high of $861.2 per token.
Based on Companies Market Cap data, Nike maintains a $112 billion valuation, while BNB has achieved a valuation of $119 billion in the early morning hours of July 28.
This milestone follows BNB’s consistent upward trajectory over recent months, particularly a 31.47% gain across the past 30 days.
BNB’s Explosive Volume Surge Points to $900 Target Before Weekend
BNB is currently trading around $850, with an impressive 98% volume increase, generating over $3.85 billion in 24-hour trading activity. Market analysts anticipate it could hit the $900 threshold before the weekend arrives.
Source: Cryptonews
This target appears achievable given the sustained demand driving BNB’s performance. On July 25, biotech company Windtree Therapeutics secured funding of up to $520 million to build one of the largest corporate BNB reserves.
Earlier in July, China-based Web3 infrastructure provider Nano Labs Ltd. purchased $50 million worth of BNB, announcing ambitious plans to acquire up to $1 billion in BNB through convertible notes and private investment rounds.
Binance founder Changpeng Zhao expressed appreciation for developers building on the BNB chain and ecosystem supporters.
On July 23, he specifically acknowledged BTC maximalists, ETH holders, meme coin traders, ETF applicants, and treasury-focused public companies in his appreciation message. On-chain analytics confirm these groups represent BNB’s primary purchasing demographics.
With CZ controlling 64% of BNB’s circulating supply, his estimated net worth has climbed to approximately $75 billion following BNB’s breakthrough to its new all-time high on July 28.
Many observers believe that when a founder demonstrates a strong commitment to their project, working tirelessly to create value for token holders and investors, the utility token (BNB) possesses major upside potential.
BNB Chain Dominates Key Blockchain Metrics
To contextualize BNB’s potential, the BNB Chain remains the only blockchain consistently outperforming Ethereum and Solana across key on-chain measurements.
According to DeFiLlama data, the BNB Chain leads all blockchains in 24-hour DEX volume, with over $5.06 billion, surpassing Ethereum’s $3.54 billion and Solana’s $2.217 billion.
Source: DefilLama
The BNB Chain also exceeds Ethereum in application revenue generation, producing $3.96 million compared to Ethereum’s $2.39 million.
Now that the BNB token has entered its expansion phase, it has successfully broken above its 2-year resistance level this week and maintains strength above this key threshold.
Crypto analyst BitBull believes the demand BNB is experiencing from both retail and institutional investors will likely propel the token above $1,000 by Q4, with potential targets of $1,800-$2,000 at the cycle peak.
Technical Analysis: BNB $900 Target Within Reach
The 4-hour BNB/USDT chart displays robust bullish momentum with a confirmed breakout above the ascending channel that previously contained its upward movement.
Price action respected the channel’s boundaries until surging past the upper resistance, indicating a momentum-driven breakthrough.
This breakout occurred alongside increasing volume, validating the bullish strength behind the movement. The asset has cleared the key resistance at $837.75 and is currently trading around $843.71.
The next projected upside objective, identified as the “Next upside HVF,” sits at approximately $900.02, indicating additional appreciation potential.
Following the breakout, the price may temporarily revisit the $837–$840 area as newly established support before advancing higher.
The RSI indicator shows values retreating slightly from overbought territory, with current readings around 67.22.
This suggests that while the asset is cooling from short-term overbought conditions, overall momentum remains robust and bullish.
Should BNB maintain support above the breakout zone and avoid closing back within the channel, the uptrend will likely persist, keeping $900.02 as the immediate upside objective.
The post BNB Overtakes Nike in Market Cap and Could Reach $900 Before Weekend – Here’s Why appeared first on Cryptonews.
