23.07.2025 07:58

Binance Coin (BNB) surged to a record-breaking high of $800 during early Asian trading on Wednesday. This remarkable achievement represents a significant milestone for the cryptocurrency, fueled by substantial recent gains. The asset experienced a phenomenal week, increasing by over 16%, and a staggering month-long climb of nearly 30%.

This impressive rally propelled BNB's market capitalization to a noteworthy $111.5 billion, a figure comparable to the valuation of Nike, a prominent player in the global sports apparel industry. The momentous occasion was celebrated by Changpeng Zhao, the former CEO of Binance, who publicly expressed gratitude to various stakeholders, including Bitcoin maximalists, Ethereum holders, meme traders, ETF applicants, treasury companies, regulators, and developers within the BNB ecosystem.

The price surge is particularly striking, representing a 300% increase from its October 2023 low of $200. This dramatic upward trend followed the announcement that Nasdaq-listed Nano Labs, a Web3 infrastructure provider, became the first publicly traded company to establish a BNB treasury. Nano Labs secured 120,000 BNB, valued at approximately $90 million at the time of acquisition, and further boosted their holdings through over-the-counter (OTC) transactions on Tuesday, purchasing an additional 45,685 BNB at an average price of $764 per token.

Nano Labs' significant investment follows a June announcement of a $500 million convertible notes deal intended to fund the acquisition of up to 10% of BNB's circulating supply. Currently, 139 million BNB tokens are in circulation, out of a total supply capped at 200 million. This strategic move by Nano Labs exemplifies a growing trend among cryptocurrency treasury companies to accumulate significant reserves of BNB, reflecting a strong belief in its long-term potential. The information presented is sourced from various internet resources.