Binance Token BNB Hits Record $788 as Crypto Fork Coins Stage Comeback

Cryptocurrency Exchange's Native Token Surges Past Record Levels Amid Broader Market Rally

  • BNB reaches new all-time high of $788, surpassing June record of $710
  • Ethereum Classic rises 21% weekly to $38.37
  • Bitcoin SV gains 20% to reach $82.80
  • Bitcoin Cash increases 12% to $583
  • Market analysts warn of potential price normalization for older tokens

Binance‘s BNB token hit an all-time high of $788 Wednesday, leading a broader rally in established cryptocurrency assets. The surge represents an 8% increase from previous records, as Bitcoin and Ethereum hard fork tokens demonstrate renewed market strength.

- Advertisement -

BNB Utility and Performance

The BNB token, central to Binance’s ecosystem, serves multiple functions including:

  • Trading fee discounts
  • Transaction costs on Binance Smart Chain
  • Staking opportunities
  • Token sale participation
  • Payment processing
  • Lending and borrowing capabilities

Hard Fork Assets Show Strength

Legacy cryptocurrencies from previous network splits are experiencing significant price appreciation:

  • Ethereum Classic (ETC): $38.37, up 21% weekly
  • Bitcoin SV (BSV): $82.80, up 20% weekly
  • Bitcoin Cash (BCH): $583, up 12% weekly

These assets emerged from historical network divisions, where disagreements over technical parameters and governance led to separate blockchain implementations.

Market Analysis

Ryan McMillin, chief investment officer at Merkle Tree Capital, attributes the price action to retail investor behavior: "Not too surprising as these tokens already possess mindshare from previous cycles and benefit from being listed on major exchanges, which provides easy access for retail investors."

However, McMillin cautions investors about sustained growth: "I expect these tokens to mean revert over time as capital rotates into projects with stronger fundamentals and active ecosystems. You are more likely to be used as exit liquidity than catch another leg up."

The current market movement suggests a temporary surge rather than fundamental value appreciation, with prices expected to normalize toward historical averages as speculative interest subsides.

- Advertisement -

✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest

Uniswap (UNI) Rebounds Above $6 After Brief Uptrend Breakdown

Uniswap's UNI token dropped below its key uptrend line following a failed hold above the $6.00 support level.High trading volumes accompanied the decline, including...

Michael Saylor Invites Joe Rogan to Discuss Bitcoin on Podcast

Michael Saylor has shown interest in discussing Bitcoin on The Joe Rogan Experience podcast.The idea has generated excitement in the Bitcoin community, with some...

Congress Debates Stablecoin Bill Amid Rising Bank and Crypto Tensions

U.S. lawmakers are moving forward with the Senate Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, with debates set to resume after...

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

Must Read

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.Those who have opened a Bitcoin account on...