Massive Accumulation Spur BNB To All-Time High as Market Cap Tapped $163 Billion

Key Points

1. BNB price soared to a new all-time high of $858 before correcting slightly to $827, making it one of the top-performing digital assets in the last 24 hours.

2. Institutional investors, including 10X Capital and Nano Labs, significantly increased their BNB holdings, with 10X Capital securing up to $1.2 billion to acquire BNB.

3. Nano Labs disclosed purchasing 8,000 BNB, bringing its total holdings to 128,000 BNB, valued at $105.8 million at market price.

4. Analysts projected sustained growth for BNB, leveraging Binance's expansion into new jurisdictions, with the asset gaining over 30% in July.

5. The trend highlights growing institutional interest in BNB and other altcoins, though Ethereum remains the largest altcoin due to its DeFi ecosystem.