Binance Coin (BNB) Reaches $800, Setting a New All-Time High

In a remarkable turn of events, Binance Coin (BNB) prices soared to an all-time high of $800 during early trading on Wednesday, marking a significant milestone for the exchange-based asset. Over the past week, BNB has surged more than 16%, and it boasts an impressive gain of nearly 30% within the last month. This upward trajectory has propelled its market capitalization to a staggering $111.5 billion, placing it in the same arena as well-known companies like Nike.

BNB hits a new ATH of $800 pic.twitter.com/ejxZR9j8Rr

— Binance (@binance) July 23, 2025

BNB Hits Milestone High

The excitement surrounding BNB’s rise was palpable, with former CEO Changpeng Zhao taking to social media to express gratitude to the diverse ecosystem supporting the token. “Appreciations to all the ecosystem players, BTC maxis, ETH holders, meme traders, ETF applicants, treasury companies, good regulators, and utility builders,” Zhao tweeted. This warm acknowledgment comes after a phenomenal increase of 300% in BNB’s price since it reached a low of $200 during the October 2023 bear market.

Driving this recent price surge is notable news from Nasdaq-listed Nano Labs. The company made headlines by creating a BNB treasury valued at $90 million, acquiring 120,000 BNB tokens. The infrastructure provider further ramped up its holdings by purchasing an additional 45,685 BNB tokens through over-the-counter (OTC) transactions at an average price of $764 each on Tuesday.

Nano Labs’ strategic moves are ambitious; they revealed plans for a $500 million convertible notes deal to fund ongoing BNB acquisitions, aspiring to secure up to 10% of the circulating supply. Currently, there are 139 million BNB tokens in circulation out of a maximum supply of 200 million.

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 — a major milestone in upgrading our BNB strategic reserve.

We’re building for the future of Web3.

… pic.twitter.com/sDGbFInOat

— Nano Labs (@NanoLabsLtd) July 22, 2025

The Rise of Crypto Treasuries

The aggressive accumulation of BNB is part of a larger trend where companies are diversifying their treasury holdings beyond Bitcoin and Ethereum to include various altcoins. Crypto treasury strategies are becoming increasingly mainstream as firms recognize the value in diversifying their digital assets.

Altcoins Are Moving

BNB is not the only altcoin experiencing remarkable gains; the entire altcoin market is buzzing with activity. Analysts are observing signs of an upcoming “altseason,” with Ethereum and XRP achieving significant price surges. Ethereum recently witnessed a 67% increase, climbing to a seven-month high of $3,800, while XRP reached an all-time high of $3.65 on July 18.

Solana has also made its mark, gaining 24% in just a week and crossing the $200 threshold, although it still remains down 31% from its January peak. Meanwhile, Dogecoin has surged 35% in a week, though it lingers 64% below its all-time high from 2021. Cardano, on the other hand, has seen a 50% increase in a fortnight but is still over 70% down from its peak four years ago.