Binance Coin Reaches New All-Time High, Surpasses $700 and $104 Billion Market Cap

Jun 4, 2024, 11:47 PM

Binance Coin (BNB) has reached a new all-time high (ATH), breaking through the $700 mark and achieving a market cap of over $104 billion. This milestone comes as BNB outperforms other major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The surge in BNB's value is notable given the recent legal issues faced by Binance CEO Changpeng Zhao (CZ), who began serving a four-month sentence. Despite these challenges, BNB has shown significant strength and resilience, becoming the first major altcoin this cycle to hit a new ATH. As of now, BNB is trading at $705, marking a significant achievement for the cryptocurrency. BNB's price discovery and 3-month triangle breakout have contributed to its relative strength. On Binance, BNB's ATH was previously $692.