How Binance Coin Became the Bitcoin of Chic: $800, Seriously?!

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Ah, Binance Coin (BNB), the little engine that could—no, wait, the little engine that DID! In a stroke of sheer audacity, this audacious piece of digital currency has rocketed past the $800 mark, setting a new all-time high faster than a caffeinated squirrel. Early traders in Asia must be feeling like they just discovered an extra fry at the bottom of the bag. 🍟

It’s been a jolting ride for BNB, which has pranced about gleefully, racking up more than 16% in just a week, and an almost unbelievable 30% in the past month. If that doesn’t give you whiplash, I don’t know what will!

Now, this meteoric rise has managed to plump its market cap to a staggering $111.5 billion. That’s right, folks! Kind of like the GDP of a small country, or about the size of Nike—yes, the shoe people, not the ancient Greek god of victory, though I imagine the latter would be interested in investing too if they could. 🏆

BNB hits a new ATH of $800!

— Binance (@binance) July 23, 2025

BNB: The “It” Coin

Former Binance CEO Changpeng Zhao celebrated this milestone with an overly generous shoutout to anyone and everyone involved. “Thanks to all the ecosystem players, BTC maxis, ETH holders, meme traders, and even those poor souls still figuring out how to pronounce “blockchain” at parties.” It sounds like a real love fest—kumbaya, anyone? 🎉

Since its October 2023 lullaby low of $200, BNB has muscled its way up by 300%. Not bad, BNB, not bad at all! This upward spiral follows the revelation that Nasdaq-chic Nano Labs has decided to have a little BNB party of its own, starting a BNB treasury with a tongue-twisting 120,000 BNB worth roughly $90 million. All acquired while sipping lattes, I presume.

And they weren’t just picking up one token at a time either; on Tuesday they snagged an additional 45,685 BNB through what’s known as over-the-counter (OTC) transactions, buying it at an average price of $764 per token. Nothing like a good old-fashioned shopping spree, eh?

Their June announcement of a cool $500 million convertible notes deal to fund these purchases makes it sound like they’re on track to corner the BNB market—next up will be BNB Monopoly! 🎲

Currently, about 139 million BNB is circulating, giving it a significant amount of pocket money out of a total supply of 200 million. You could say it’s a BNB bubble just waiting to burst! But let’s not go there. 👀

Update from Nano Labs (Nasdaq: $NA)

We’ve significantly increased our $BNB holdings to 120,000 BNB (~$90M), acquired at an avg. cost of $707/token — It’s like we just scored the best deal on Black Friday!

We’re building for the future of Web3—hold onto your wallets!

— Nano Labs (@NanoLabsLtd) July 22, 2025

This trend is swiftly catching on as more crypto treasury companies venture beyond Bitcoin and Ethereum, like kids running out of the candy store with their pockets full of gummy bears. 🍭

Altcoins Are Alive and Kicking

BNB isn’t the only altcoin throwing a party. Analysts are whispering sweet nothings about “altseason.” Ethereum and XRP are also joining the cryptocurrency prom, sporting some spiffy gains over the past couple of weeks. Ethereum notched a 67% gain this month, hitting a luminous seven-month high of $3,800. Meanwhile, Ripple‘s XRP has leapt to an impressive $3.65. It’s like they all decided to compete for the title of “Most Popular Kid on the Blockchain.” 💃

Solana, bless its heart, performed decently with a 24% weekly bump, though it’s still 31% shy of its January peak—talk about a hangover! Dogecoin had its own mini-celebration with a 35% spike but remains marooned 64% from its lofty 2021 heights. Meanwhile, Cardano has gained 50% in a fortnight, yet it’s over 70% down from its glory days. Just goes to show, sometimes winning is all about perspective.

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2025-07-23 09:23