BNB Hits Record High Surpassing $800, Market Cap Tops Solana

On July 23rd, the BNB token, the native currency of the leading cryptocurrency exchange Binance, reached a new all-time high, surpassing $800 and securing the 5th position in market capitalization, overtaking Solana. The market cap of BNB is presently $111.2 billion, whereas Solana's is approximately $108 billion. Binance's founder, Changpeng Zhao, shared a chart marking the new high, highlighting the rising altcoin season index and expressing optimism about further growth. According to Standard Chartered analysts, BNB could reach $2,775 by the end of 2028. Meanwhile, the overall crypto market capitalization increased by 0.2%, reaching $3.92 trillion. The fear and greed index rose to 74, indicating growing interest in cryptocurrencies. Despite this positive outlook, the market remains volatile, with the liquidation of positions involving 115,000 traders amounting to $305 million, which underscores the need for caution when investing in cryptocurrencies.