Cryptocurrency BNB has updated its historical maximum

On Thursday, August 14, the value of the cryptocurrency BNB BNB $834.56 BNB 1.79% Market capitalization $116.24 billion VOL. 24 hours $0.11 billion reached a new all-time high of $ 866.96. The capitalization of the Binance token reached $ 120 billion, which made it the fifth largest crypto asset. After the peak, the price was slightly adjusted and at the time of writing was $ 848.

The BNB Chain team attributes the growth to the technical improvement of the network after the Maxwell hard fork in June. The update reduced the block creation time to 0.75 seconds, and finalization takes 1.875 seconds. The daily number of transactions exceeds 12 million, and the maximum figure reached 17.6 million. Over the past six months, $ 165 billion worth of exchanges were made in the DeFi segment on the basis of BNB Chain.

The BNB Chain infrastructure continues to demonstrate high activity: the total value of blocked assets (TVL) exceeds $ 7.3 billion, and the number of daily active addresses is 2.4 million. The developers emphasize that BNB serves as the main currency in one of the fastest public blockchains.

An additional growth factor was the interest of institutional investors. In particular, at the end of July, Nano Labs acquired 128,000 BNB tokens worth $ 108 million. Windtree and Liminatus also announced plans to invest $ 60 million and $ 500 million, respectively.

Against the backdrop of the record-breaking rate, crypto analysts are voicing optimistic forecasts. Some of them expect the price to rise to $ 1000 in the near future, and some of them — even to $ 2000. In May, Standard Chartered analysts predicted that BNB’s value could reach $ 2775 by 2028.